|Bid||0.00 x 1400|
|Ask||0.00 x 800|
|Day's Range||53.09 - 54.21|
|52 Week Range||22.39 - 54.45|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||2.25%|
|Beta (5Y Monthly)||1.65|
|Expense Ratio (net)||0.42%|
Strong rebound in existing-home sales with a 20.7% increase from May (lowest level in 10 years). LGI Homes is the leader but it's out of there. Pulte Homes looked good today but has earnings before the open tomorrow. iShares US Home Construction allows you to play the move in the group.
Shares of Lennar Corp. fell 1.5% in afternoon trading, enough to pace the handful of decliners among its homebuilding peers, after the company reported second-quarter profit, revenue, deliveries and new orders that beat expectations, according to FactSet, but provided "somewhat" disappointing guidance. J.P. Morgan analyst Michael Rehaut reiterated the neutral rating he's had on the stock since March 18, and kept his price target at $64. He said he believes Lennar's guidance for third-quarter orders to decline 3% to 4% from a year ago, and fourth-quarter orders to fall 6% to 8%, "falls somewhat short of investor expectations for order growth to have recently turned modestly positive." Rehaut said, however, that despite the stock's reaction, he said the outlook is "relatively encouraging," as it comes after "challenging" comparisons of 9% growth in last year's third quarter and 26% growth in last year's fourth quarter. The stock was the biggest decliner, of the 6 of 44 equity components of the iShares U.S. Home Construction ETF that were declining. The ETF was up 1.8% in afternoon trading. Over the past three months, Lennar's stock has run up 70.4%, the home construction ETF has hiked up 65.1% and the S&P 500 has advanced 31.4%.
Exchange-traded funds with exposure to homebuilders and housing market companies roared higher Tuesday after a surprise gain in sales of newly-constructed homes confirmed sturdy demand even in the face of the coronavirus-induced shutdown. The SPDR S&P Homebuilders ETF was 4% higher at midday, while the iShares U.S. Home Construction ETF jumped 3.6%. The portfolios of both funds are heavy with consumer discretionary stocks like Home Depot Inc. \- it's XHB's biggest holding - in addition to builders like Lennar Corp. . The Hoya Capital Housing ETF , a fund designed to more broadly reflect the residential real estate industry with exposure to REITs like American Homes 4 Rent and brokerages like Redfin Corp. , was 3.9% higher.