Blackstone Group's Invitation Homes went public today, selling 77 million shares at $20 each. Since trading opened has been fluctuating above the issue price, with an early peak of $20.42.
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Data: Money.net; Chart: Lazaro Gamio / Axios
Why this matters: This is the largest stock market debut by a U.S. real estate investment trust (REIT) since 2014, when Paramount Group Inc. raised $2.29 billion. Invitation raised $1.54 billion.