Invitation Homes (INVH) IPO Opens Fractionally Higher

Today's IPO for Invitation Homes Inc. (NYSE: INVH) opened for trading at $20.10 after pricing its initial public offering of 77,000,000 shares of its common stock at $20.00 per share, the higher end of the expected $18-$21 range.

Deutsche Bank Securities, J.P. Morgan, BofA Merrill Lynch, Goldman, Sachs & Co., Wells Fargo Securities, Credit Suisse, Morgan Stanley and RBC Capital Markets are serving as joint book-running managers for the offering. Blackstone Capital Markets, BTIG, Evercore ISI, FBR, JMP Securities, Keefe, Bruyette & Woods, A Stifel Company, Raymond James, Siebert Cisneros Shank & Co., L.L.C. and Zelman Partners LLC are acting as co-managers.

Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes in desirable neighborhoods across America. With nearly 50,000 homes for lease in 13 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools. The company's mission, "Together with you, we make a house a home," reflects its commitment to high-touch service that continuously enhances residents' living experiences and provides homes where individuals and families can thrive.

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