Invitation Homes And Starwood Waypoint Homes To Merge

Invitation Homes And Starwood Waypoint Homes To Merge

Shares of Invitation Home Inc. They set an "outperform" rating and a $24.00 target price on the stock.

Each Starwood Waypoint Homes share will be converted into 1.614 shares of Invitation Homes, and Invitation Homes shareholders would own roughly 59% of the new company's stock. Invitation Home has an average rating of "Buy" and a consensus target price of $24.08. (INVH) opened at 20.99 on Thursday. The stock's market cap is $3.44 billion.

Invitation Home Inc. has a 1-year low of $19.80 and a 1-year high of $22.43. The stock's 50 day moving average is $34.68 and its 200 day moving average is $33.65.

Invitation Home (NYSE:INVH) last announced its quarterly earnings data on Thursday, August 10th. 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 firm had revenue of $154.40 million for the quarter, compared to analysts' expectations of $153.39 million. Colony Starwood Homes had a negative return on equity of 1.32% and a negative net margin of 8.24%. The original version of this news story can be read at

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The transaction has been unanimously approved by the boards of both Starwood Waypoint Homes and Invitation Homes. The ex-dividend date of this dividend was Wednesday, June 28th. The shares were sold at an average price of $34.69, for a total value of $135,194,561.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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Several equities analysts have recently weighed in on the company. This is a boost from Invitation Home's previous quarterly dividend of $0.06.

Since the beginning of the calendar year, the stock is 4.95%. For the quarter, shares are performing at 1.17%. Daiwa Securities Group Inc. bought a new stake in shares of Invitation Home during the first quarter valued at about $66,012,000. HGI Capital Management LLC now owns 104,573 shares of the financial services provider's stock worth $3,550,000 after buying an additional 60,223 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Colony Starwood Homes by 56.8% in the second quarter. The fund owned 5,175 shares of the financial services provider's stock after selling 3,799 shares during the period.

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Upon completion of the transaction, Fred Tuomi, Chief Executive Officer of Starwood Waypoint Homes, will become CEO of Invitation Homes; Ernie Freedman, Chief Financial Officer of Invitation Homes, will remain CFO; Charles Young, Chief Operating Officer of Starwood Waypoint Homes, will become COO; and Dallas Tanner, Chief Investment Officer of Invitation Homes, will remain CIO.

The two companies noted in a release that the combined outfit's portfolio would represent 0.5% of the 16 million single-family rentals in the United States.

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