LGI Homes' (LGIH) Terrata Homes Lists Latest Community for Sale
LGI Homes, Inc. LGIH recently announced that houses under Terrata Homes’ (a LGI Homes brand) latest community — Bella Terra — in the Tampa, FL, market are up for sale. The community, situated on at least 2 acres of land, boasts new estate homes with spacious layouts and high-end interior finishes. The affordability of the homes and exclusive features are likely to attract potential homebuyers, boding well for LGIH.
Shares of LGIH incurred a marginal loss on the Sep 19 normal trading session on the NYSE.
The five homes at Bella Terra have been designed by the Craftsman Collection and are carefully curated to satisfy the desires of today’s homebuyers. The sizes vary from 2,642 to 4,023 square feet with up to four bedrooms and four bathrooms featuring desirable additional spaces such as game rooms, media rooms, spacious master suites and covered outdoor living areas. The pricing of the homes starts in the $670s with move-in ready opportunities available.
Each new home is well-equipped with a host of designer upgrades, including a full suite of stainless-steel kitchen appliances, quartz countertops, 42” upper cabinets with crown molding, luxury vinyl plank flooring, finished garages with epoxy flooring and covered outdoor kitchens, to name a few.
Given its accessibility to US-19 and the Suncoast Parkway, residents of Bella Terra are just a short drive away from some of the area’s best beaches and top shopping, dining and employment opportunities in the Tampa market. In addition, located just south of Spring Hill in Hudson, the community is surrounded by ample greenery where homebuyers can relax and enjoy leisure time.
This Woodlands, TX-based company is a pioneer in the homebuilding industry, engaged in the design, construction and sale of homes across 35 markets in 20 states through an innovative and systematic approach. Notably, the company has closed more than 65,000 homes since its founding in 2003.
The increase in demand for new-age real estate developments and the company’s continued efforts to reduce the cost of homeownership through a combination of mortgage buy-down programs and other sales incentives are likely to drive its sales volume in the upcoming period.
LGIH recently commenced its annual Make Your Move National Sales Event, with special pricing available on select move-in ready homes across both the LGI Homes and Terrata Homes brands. The company is also offering attractive financing options, including rate buy-down assistance and builder-paid closing costs, through its partnership with LGI Mortgage Solutions. The sales event will run till Oct 31, 2023.
Analysts seem bullish on this Zacks Rank #1 (Strong Buy) company. The Zacks Consensus Estimate for its 2023 earnings per share has been revised 7.5% upward over the past two months to $8.14.
Shares of the company have gained 19.7% in the year-to-date period compared with the industry’s growth of 15.1%.
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Other Stocks to Consider
Some other top-ranked stocks from the broader real estate market are Welltower WELL, SBA Communications SBAC and Americold Realty Trust COLD, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Welltower’s 2023 funds from operations (FFO) per share has been raised marginally over the past month to $3.54.
The Zacks Consensus Estimate for SBA Communications’ current-year FFO per share has moved marginally northward over the past month to $12.90.
The Zacks Consensus Estimate for Americold Realty Trust’s ongoing year’s FFO per share has been raised 1.6% over the past month to $1.26.
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