Invitation Homes (INVH) prices $500 million stock offering.

Invitation Homes Inc. (INVH) said today that it has priced an offering of 12.5 million shares of its common stock at a price to the public of $40.00/share.  The offering may be expanded by an additional 1.875 million option shares granted to the underwriters for 30 days.  INVH said that proceeds from the offering would be used for acquisitions, debt reduction, and general corporate purposes.  The offering is expected to close on September 28, 2021.

Invitation Homes is one of the largest owners of single-family residential properties in the U.S. with an owned and managed portfolio of 81,432 homes in 17 markets. As of June 30, 2021, INVH had a total market capitalization of approximately $29 billion.