The Invitation Home (INVH) Receives Daily News Impact Rating of 0.37

Blackstone Starwood Merging Rental Home Businesses

Home purchases by Invitation Homes are down more than 90 percent from four years ago and the period of "hyper growth" for the industry had passed, a person close to the company said.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp now owns 27,043 shares of the financial services provider's stock valued at $918,000 after buying an additional 114 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Invitation Home during the second quarter worth approximately $136,000. Bank of New York Mellon Corp now owns 5,751,625 shares of the financial services provider's stock worth $195,267,000 after buying an additional 3,222,303 shares in the last quarter. Can now owns 70,936 shares of the financial services provider's stock worth $2,433,000 after buying an additional 13,523 shares during the last quarter. As of quarter end Tiaa Cref Investment Management LLC had acquired 132,835 shares growing its stake by 21.2%. State of New Jersey Common Pension Fund D now owns 278,000 shares of the financial services provider's stock worth $9,538,000 after buying an additional 10,000 shares during the last quarter. Tightening the gaze, stock performance for the last 5 trading days is -0.99%. The company had a trading volume of 176,066 shares.

The companies described the deal as a 100% stock-for-stock merger of equals. The firm has a 50-day moving average of $21.48 and a 200 day moving average of $21.46.

Digging a bit further, company shares have been noted -1.48% off the 52 week high and 31.75% away from the 52 week low.

The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $238.80 million for the quarter, compared to the consensus estimate of $238.10 million. The value of the investment in Starwood Waypoint Homes of Ben went from $6,897,000 to $7,433,000 increasing 7.8% since the last quarter. Invitation Home updated its FY17 guidance to $0.96-1.04 EPS.

TRADEMARK VIOLATION WARNING: This piece was published by Transcript Daily and is the property of of Transcript Daily. If you are reading this piece on another website, it was stolen and republished in violation of United States & global copyright legislation. Can raised its position in Colony Starwood Homes by 23.6% in the second quarter.

A number of equities analysts have recently commented on the stock. They issued an "outperform" rating and a $24.00 price target for the company. FBR & Co restated a "buy" rating on shares of Invitation Home in a report on Saturday, May 13th. Deutsche Bank AG began coverage on shares of Colony Starwood Homes in a research note on Monday, April 24th. On Thursday, March 30 the stock rating was maintained by RBC Capital Markets with "Buy".

After the deal, Starwood Waypoint's Chief executive Fred Tuomi will head the combined company. Finally, Zacks Investment Research upgraded Invitation Home from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. The stock now has an average rating of "Buy" and a consensus target price of $36.62.

In other news, Director Thomas Barrack, Jr. sold 3,897,220 shares of Colony Starwood Homes stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $34.69, for a total transaction of $135,194,561.80.

Under the terms of the deal, each Starwood Waypoint Homes share will be converted into 1.614 Invitation Homes shares. 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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