Shares in Invitation Home Inc. (NYSE:INVH) Acquired by Amalgamated Bank

Reuters

Single-family rental giants Invitation Homes (INVH) and Starwood Waypoint Homes (SFR) on Thursday agreed to merge into what would be the largest company of its kind in the U.S. They issued an outperform rating and a $38.00 target price on the stock. The company provided earnings per share (EPS) guidance of $0.96-1.04 for the period, compared to the Thomson Reuters consensus estimate of $0.99. Colony Starwood Homes's dividend payout ratio is now -187.23%.

Invitation Homes Inc said it would buy smaller rival Starwood Waypoint Homes in an all-stock deal that would create the biggest single-family rental company in the United States. Private-equity firm Blackstone, which owns 70 percent of Invitation Homes, will own 41 percent of the merged entity.

Invitation Home (NYSE:INVH) last posted its quarterly earnings data on Thursday, May 11th.

Colony Starwood Homes (NYSE SFR) traded up 0.43% during mid-day trading on Monday, reaching $35.22. Zelman & Associates upgraded shares of Invitation Home from a "hold" rating to a "buy" rating in a report on Friday, June 23rd. Including today's unusual volume, Starwood Waypoint Homes's stock is performing at 16.70% on the year. Schwab Charles Investment Management Inc. owned about 0.07% of Invitation Home as of its most recent filing with the SEC. The firm had revenue of $238.80 million during the quarter, compared to analyst estimates of $238.10 million.


- Invitation Homes has agreed to buy smaller rival Starwood Waypoint Homes in an all-stock deal that the two companies said on August 10 would create the largest single-family home-rental company in the United States. FBR & Co reissued a buy rating on shares of Invitation Home in a research report on Saturday, May 13th.

WARNING: "Colony Starwood Homes (NYSE:SFR) Receives New Coverage from Analysts at Citigroup Inc." was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. The company now has a consensus rating of Buy and an average price target of $36.62. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & worldwide copyright & trademark laws. The legal version of this report can be accessed at https://www.thestockobserver.com/2017/08/10/amalgamated-bank-buys-shares-of-11721-invitation-home-inc-nyseinvh-updated-updated.html. The stock was sold at an average price of $34.69, for a total transaction of $135,194,561.80.

The companies described the deal as a 100% stock-for-stock merger of equals. For the week, the stock is performing -2.58%.

Invitation Homes Inc is a real estate investment trust. The combined company will operate under the name "Invitation Homes". It is focused on acquiring single-family rental (SFR) homes through a variety of channels, renovating these homes to the extent necessary and leasing them to qualified residents.

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