Invitation Homes, a single-family rental company under the Blackstone Group, went public Tuesday and earned more than $1.5 billion in its initial public offering, as HousingWire reports.
The company said a week ago that it planned to offer 77 million shares at between $18 and $21 apiece. Invitation Homes, which uses the symbol INVH on the New York Stock Exchange, is the largest single-family rental operator in the country with more than 48,000 homes.
The company has properties in 13 markets, including Atlanta, Phoenix, Seattle, and Tampa, the company noted in its prospectus. Overall, Invitation Homes’ portfolio of homes is 95% occupied, the company said.
Advertisement
Related Stories
Economics
Housing Share of GDP in Q1 2024 Rises Above 16%
The increase marks the first time GDP has surpassed 16% since 2022
Economics
Shelter Costs Drive Inflation Higher Than Expected in January
January Consumer Price Index data show inflation increased more than anticipated as shelter costs continue to rise despite Federal Reserve policy tightening
Economics
Weighing the Effects of the Fed's and Treasury's Latest Announcements
The upshot of the Jan. 31 announcements is that while mortgage rates will stay higher for longer, they're likely to hold steady
