Joshua Varghese
Invitation Homes Inc.
INVH-N
TOP PICK
Dec 05, 2018
An owner of single-family rental homes in the US – they also provide rental services to owners. They have integrated technology into smart home systems as an add-on. It trades at a big discount to its NAV. Yield 2%. (Analysts’ price target is $25.50)
A sub-sector he likes in the U.S. are single-family homes. Institutional investors bought up distressed homes during the Recession, then rented out those homes after that period. INVH is a major player in this space and it's trading at a discount to NAV now.
(A Top Pick Dec 05/18, Up 14%) The largest owner of single family homes in the US. They institutionalized the space. When he bought them they had acquired a company and now they are coming out the other side. It is pretty fairly valued and you could cycle into one of the others in the space.
(A Top Pick Dec 05/18, Up 45%) It's a Blackstone-sponsored company that bought a bunch of single-family homes and rent them out. Blackstone IPO'd this and sold it in tranches over time. Now, the stock has legs and doesn't need the parent's support. They rent to tenants and are adding ancillary businesses, like pet services beyond just rent.
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