Reven Housing REIT, Inc. Announces Share Repurchase Program
March 14 2018 - 12:30PM
Business Wire
Reven Housing REIT, Inc. (the “Company”, “Reven”) (NASDAQ:
RVEN), an owner and operator of single-family residential
properties, today announced that its Board of Directors has
authorized the Company to repurchase up to $500,000 of its own
shares. The repurchase program will commence following the filing
of the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2017 later this month and the authorization
extends through December 31, 2018; repurchases will be made in
accordance with applicable securities laws from time to time in the
open market depending on market conditions.
Chad Carpenter, Chief Executive Officer of Reven Housing,
stated: “We remain committed to investing in our business to
capitalize on the continuing trend of households choosing to rent
single family homes. However, we recognize that opportunities
periodically emerge to accretively deploy capital from time to time
in our shares. The share repurchase demonstrates our confidence in
our platform and the future growth potential of Reven to our
shareholders.”
The repurchases will be made in compliance with the SEC’s Rule
10b-18 subject to market conditions, available liquidity, cash
flow, applicable legal requirements and other factors. The program
does not obligate Reven Housing to acquire any amount of common
stock and the program may be suspended or discontinued at any time.
Reven expects to finance the repurchases with existing cash
balances.
About Reven Housing REIT, Inc.
Reven Housing REIT, Inc. (NASDAQ: RVEN) engages in the
acquisition and ownership of portfolios of occupied single-family
rental properties in the United States. Reven currently owns and
operates 826 single family rental properties in Alabama, Florida,
Georgia, Mississippi, Tennessee and Texas.
For more information, please visit
http://www.revenhousingreit.com/.
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version on businesswire.com: http://www.businesswire.com/news/home/20180314005795/en/
Investor Relations:ICR, Inc.Evelyn Infurna,
203-682-8265evelyn.infurna@icrinc.com
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