California-based homebuilder Ryland Group Inc. (RYL) recently opened a new community named Enclave, which is located at Aloma in Winter Park, Florida. In addition, the company declared its quarterly dividend.
The Enclave, comprising single-family homes, has been designed to facilitate outdoor activities to make the most of the Florida weather. It has open floor plans ranging from 1,853 to 3,514 square feet. Homes in the community are priced from $279,990 to $399,990. The homes have been built with Ryland’s MyStyle Design Center, where one can personalize their homes.
The community is located in close proximity to the historical downtown district and is close to all major attractions in the Central Florida area, including lakes, boutiques, cafes, art galleries, retail stores and parks. Transportation, employment centers, shopping, and dining options and good schools make the community attractive to homebuyers. The community is ENERGY STAR certified and therefore consumers can significantly save on their monthly utility bills.
Ryland’s board has declared a quarterly dividend of 3 cents per share, which will be paid on Jul 30, 2013, to stockholders as of Jul 15, 2013. Recently, Ryland also reported strong first quarter 2013 results with earnings of 43 cents. Earnings surpassed the prior-year quarter loss of 7 cents. Revenues increased 73.6% to $374.7 million on the back of rising demand for new homes.
Ryland has been constantly introducing new communities, thus capitalizing on the improving housing markets. The favorable situation in the housing market has resulted in increase in demand for new homes, where inventory levels are dropping and prices are moving up.
Ryland holds a Zacks Rank #1 (Strong Buy). Other stocks in the homebuilding sector that are worth considering include Meritage Homes Corp (MTH), MDC Holdings Inc (MDC) and D. R. Horton Inc. (DHI), all with a Zacks Rank #1.
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