>> While Wall Street is whipped into a pre-IPO frenzy revolving around Snap, Inc, the parent of Snapchat, there's another market debut infusing confidence around trading floors on Wednesday. Invitation Homes, the country's largest home rental company staging the biggest IPO so far this year raising $1.5 billion. The brain child behind invitation is private equity giant Blackstone, which swooped into the housing market when things were at their worst and is now ready to cash in.
Reuters correspondent, Michelle Connolly.>> What Invitation did was after the foreclosure crisis in 2012, they went across the entire country buying distressed, foreclosed houses in bulk and then putting renters in them. And you know with the IPO today, when you look at the performance of those houses, they've mostly appreciated in value.
Their vacancy rates are very low, and they've been able to raise rents.>> Invitation has about 50,000 properties on hand, and that means a steady flow of cold, hard cash from renters. And that's not something investors overlook. The stock, having a respectable bump up on its first day, with the first highly anticipated IPO of 2017 occurring without a hitch.
Market sentiment calm. And investors mostly in a Trump induced buying mood, analysts say the pieces are in place for and IPO comeback from last year's drought.