Published: Thu, August 10, 2017
Economy | By Annette Adams

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

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

On average, equities research analysts expect that Colony Starwood Homes will post ($0.03) earnings per share for the current fiscal year.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Colony Starwood Homes during the fourth quarter worth $16,624,000.

Invitation Homes and Starwood Waypoint Homes - two of the nation's largest owners of single-family rental houses - announced Thursday they are merging, creating a behemoth rental company as the country's home ownership rate remains depressed.

Invitation Homes saw its stock rise 4.29%, or 90 cents, to $21.89 a share.

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 stock's market cap is $3.44 billion. The stock has a 50 day moving average of $21.44 and a 200-day moving average of $21.45. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $242.22 million during the quarter, compared to analysts' expectations of $240.58 million. The business had revenue of $154.40 million during the quarter, compared to the consensus estimate of $153.39 million. Post-merger, the company would operate under the name "Invitation Homes", they said in a release.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a $0.08 dividend.

- Deutsche Bank and JPMorgan are advising Invitation Homes while Morgan Stanley and Evercore advise Starwood Waypoint. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, August 11th.

TRADEMARK VIOLATION NOTICE: "11,721 Shares in Invitation Home Inc".

Invitation Homes is majority owned by Blackstone Group, one of the first private equity firms to begin purchasing foreclosed homes in the wake of the 2008 financial crisis, then fixing them up and renting them out. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of U.S. & global copyright legislation. The legal version of this story can be read at https://sportsperspectives.com/2017/08/09/colony-starwood-homes-sfr-stake-lowered-by-ubs-group-ag.html. They issued an "outperform" rating and a $38.00 price objective on the stock. FBR & Co reissued a buy rating on shares of Invitation Home in a research report on Saturday, May 13th. Finally, Zacks Investment Research upgraded shares of Invitation Home from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Wednesday, July 12th. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. The company now has an average rating of Buy and an average price target of $24.08.

Starwood Waypoint Homes, formerly Colony Starwood Homes, is an internally managed real estate investment trust (REIT).

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