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Harbor Custom Development, Inc. (HCDI)

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3.0900-0.0800 (-2.52%)
At close: 4:00PM EDT

3.1000 +0.01 (0.32%)
After hours: 4:37PM EDT

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Neutralpattern detected
Previous Close3.1700
Open3.1600
Bid3.1000 x 1100
Ask3.1700 x 900
Day's Range3.0500 - 3.2500
52 Week Range2.6200 - 8.3620
Volume362,572
Avg. Volume1,129,163
Market Cap45.958M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Harbor Custom Development, Inc. Closes 99 Lots in Soundview Estates with Lennar for $9,310,000
    GlobeNewswire

    Harbor Custom Development, Inc. Closes 99 Lots in Soundview Estates with Lennar for $9,310,000

    Gig Harbor, Washington , May 18, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has closed on 99 lots totaling $9,310,000 with Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (“Lennar”), in phase 7 of Soundview Estates located in Bremerton, Washington. Soundview Estates is less than a ten-minute drive to downtown Bremerton, the Seattle Ferry, and the Kitsap Naval Shipyard and can be viewed at: https://vimeo.com/453127877. “We are thrilled to continue our working relationship with Lennar and anticipate they will continue with their current success of constructing quality single family homes that capture the beauty of this unique setting,” stated Sterling Griffin, President and CEO of Harbor Custom Development, Inc. About Lennar Corporation Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up, and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title, and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LenX drives Lennar's technology, innovation, and strategic investments. For more information about Lennar, please visit www.lennar.com. About Harbor Custom Development, Inc. Harbor Custom Development, Inc. is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington’s Puget Sound region; Sacramento, California; and Austin, Texas. Harbor has active or recently sold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. In addition, Harbor has acquired land and will begin constructing homes in two new markets beginning the second quarter of 2021. In the Sacramento metro market, Harbor will be constructing homes in completed subdivision in both Rocklin and Auburn, California. In the Austin metro market, Harbor has acquired developed lot inventory in Dripping Springs, Driftwood and Horseshoe Bay Texas. Harbor Custom Development’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations. For more information on Harbor Custom Development, Inc., please visit www.harborcustomdev.com. Forward-Looking Statements Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. CONTACT: Investor Relations Hanover International IR@harborcustomdev.com 866-744-0974

  • Harbor Custom Development, Inc. Releases First Quarter Financial Results and Announces Entrance into Vancouver, British Columbia and South Florida Regional Markets
    GlobeNewswire

    Harbor Custom Development, Inc. Releases First Quarter Financial Results and Announces Entrance into Vancouver, British Columbia and South Florida Regional Markets

    Gig Harbor, Washington, May 17, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that 2021 first quarter revenues were $13,874,200 with a net loss of $1,549,200. Harbor CEO, Sterling Griffin stated, “We are focused on acquiring real estate assets in the fastest growing regions of the country to capitalize on the extreme shortage of housing nationwide. As a result of our significant progress, we anticipate achieving profitability in the second quarter of 2021.” Harbor also announced that it has entered a contract to acquire 233 acres located 40 miles south of Vancouver, British Columbia in Blaine, Washington and has secured a contract to acquire 53 acres of oceanfront property in Punta Gorda, Florida. “We are thrilled to be opening up two new regional markets in 2021,” stated Mr. Griffin. “Located in Whatcom County, Washington, Blaine is a city that straddles the U.S.-Canadian border. Inventory of available housing in Blaine and Whatcom County is extremely limited. Vancouver, British Columbia, with a metro market population of 2,700,000, is just over an hour’s drive from the Horizon subdivision that we have contracted to acquire. The U.S.-Canadian border has been closed for non-essential travel because of Covid 19 since March 2020. Once the border reopens, we believe it will put substantial pressure on the limited inventory of available housing in Whatcom County, Washington and provide us a significant and unprecedented housing opportunity.” Located approximately 24 miles from Fort Myers, Florida, the Punta Gorda oceanfront property provides Harbor Custom Homes the opportunity to construct approximately 200 ocean front luxury condominiums. The condominiums will be a mix of two- and three-bedroom units and are anticipated to have an average sales price of $550,000. The population of the Cape Coral – Fort Myers metro area is approximately 790,000. “Moving into the South Florida market has been a major objective for us,” commented Mr. Griffin. “Like our Austin, Texas operations, we believe South Florida offers a pro-business and real estate focused environment that provides Harbor Custom Homes the opportunity to create a significant regional presence.” About Harbor Custom Development, Inc. Harbor Custom Development, Inc. is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Washington state, California, and Texas. Harbor has active or recently sold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. Harbor has also acquired developed lots and plans to begin constructing homes in the Sacramento and Austin metro markets beginning in the second quarter of 2021. The Darkhorse Golf Course community, located approximately 50 miles northeast of Sacramento in Auburn, California, and the La Ventana and Bunker Ranch subdivisions located approximately 22 miles from Austin, in Driftwood and Dripping Springs, Texas, are Harbor’s newest locations. Harbor Custom Development’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations. For more information on Harbor Custom Development, Inc., please visit www.harborcustomdev.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to, but are not limited to, expectations of future operating results and financial performance, including GAAP and non-GAAP guidance for the year ending December 31, 2020 and the year ending December 31, 2021, the calculation of certain of our key financial and operating metrics and expectations regarding sales of inventory, as well as assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “expect,” “plan,” anticipate,” “believe,” “estimate, “predict,” “target,” “project,” “intend,” “potential,” “would,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology that concern our expectations, strategy, priorities, plans, or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These forward-looking statements are subject to various risks and uncertainties, including without limitation complications due to COVID-19 which could cause delays in dates of completion or closings, and those risks and uncertainties set forth in the Company’s filings with the Securities and Exchange Commission. Thus, actual results could be materially different. This document includes statements of summarized financial projections. There will be differences between the projected and actual results because events and circumstances frequently do not occur as expected and those differences may be material. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. CONTACT: Investor Relations Hanover International IR@harborcustomdev.com 866-744-0974

  • Harbor Custom Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market
    GlobeNewswire

    Harbor Custom Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market

    Gig Harbor, Washington , April 29, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has contracted to acquire 31 acres of commercial property for $4,750,000 in West Horseshoe Bay, Texas, located approximately 53 miles from Austin. The acquisition includes a 2,800 square foot office building that Harbor Custom Homes plans to utilize for its design, marketing and sales center serving the Austin metro market. Harbor anticipates rezoning most of the property from commercial to residential use in the third quarter of 2021. Following the rezone, Harbor plans to provide a variety of single family product ranging from 1,800 to 2,400 square feet cottages and villas, as well as 4,000 to 5,000 square feet creek side homes on estate lots. Home buyers in the development will have the opportunity for membership at the Horseshoe Bay Resort (clubhsbresort.com) providing access to resort facilities including three golf courses, multiple clubhouses, yacht club, lake facilities, and access to a private jet center with a 6,000-foot lighted runway. Horseshoe Bay has seen rapid growth because of Austin’s expanding employment base and the subsequent migration of households to the Lake and Hill Country regions. “Acquiring this property not only provides Harbor Custom Homes with the opportunity for a great mix of residential product in the inventory starved Austin metro market but also offers the Company a regional office in a highly desirable destination resort location to serve Harbor’s Austin based projects. Urban flight from Austin combined with decreasing inventory in the bedroom, rural and destination resort communities like Horseshoe Bay provide a great opportunity for our company,” stated Sterling Griffin, President and CEO of Harbor Custom Homes. About Harbor Custom Development, Inc. Harbor Custom Development, Inc. is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington’s Puget Sound region; Sacramento, California; and Austin, Texas. Harbor has active or recently sold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. In addition, Harbor has acquired land and will begin constructing homes in two new markets beginning in the second quarter of 2021. In the Sacramento metro market, Harbor will be constructing homes in completed subdivisions in both Rocklin and Auburn, California. In the Austin metro market, Harbor has acquired developed lot inventory in Dripping Springs, Driftwood, and Horseshoe Bay, Texas. Harbor Custom Development’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations. For more information on Harbor Custom Development, Inc., please visit www.harborcustomdev.com. Forward-Looking Statements Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. CONTACT: Investor Relations Hanover International IR@harborcustomdev.com 866-744-0974