|Bid||63.10 x 900|
|Ask||63.74 x 1200|
|Day's Range||62.98 - 64.04|
|52 Week Range||43.21 - 64.04|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||10.99|
|Earnings Date||Mar 24, 2020 - Mar 29, 2020|
|Forward Dividend & Yield||0.50 (0.79%)|
|Ex-Dividend Date||Jan 21, 2020|
|1y Target Est||68.79|
Lennar Corporation (NYSE:LEN) stock is about to trade ex-dividend in 4 days time. You can purchase shares before the...
One of nation's fastest-growing communities has sold the final remaining lots, nearly 900 in total, to a trio of homebuilders. Here's what happens next, including zoning for commercial development.
An index measuring sentiment in the home-building industry fell off a near-record high from the previous month.
A Florida homebuilder is planning to spend a whopping $600 million on its multiphase latest Phoenix-area development, spanning everything from entry-level to luxury residences. Home sales in the project are underway.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.A rejuvenated U.S. housing market will help keep the economy chugging along despite the threat posed by a derailment in corporate spending.Home construction outlays, which account for almost 4% of gross domestic product, increased for a fifth straight month in November, marking a welcome departure from a yearlong slowdown. Buyers, their confidence bolstered by sustained job and income growth, have taken advantage of the lowest borrowing costs in almost three years as Federal Reserve policy makers reduced their benchmark rate three times in 2019.The Atlanta Fed’s latest GDPNow estimate has residential investment penciled in at an annualized 3.9% gain for the fourth quarter after growing at a 4.6% pace in the previous three-month period. That would mark the best consecutive quarters of growth since 2016-2017.Fresh earnings announcements show order books are growing at builders including Lennar Corp., with its increasing focus on the entry-level home segment, and KB Home, which targets first-time buyers. While Lennar shares gained in the wake of its earnings report, KB Home retreated because of closing delays in the fire-stricken Bay Area even with solid orders.“The indicators that we see and hear from our customers reflect confidence in the stability of the economy and in the job market,” Stuart Miller, Lennar’s chairman, said on the company’s earnings call last week.While home construction represents almost 4% of the economy, less than nonresidential investment in equipment (5.7%) and structures (2.9%) combined, a further strengthening will help limit the negative effects of capital-spending weakness. What’s more, stronger home sales have the potential of propelling purchases of furnishings and durable household equipment.Housing also contributes to growth through consumption of housing and utilities services, which accounts for 12.5% of GDP and includes an estimate of how much it would cost to rent owner-occupied units.The likely boost to fourth-quarter GDP from residential construction has been accompanied by a flurry of permit applications to build that includes both single-family dwellings and multifamily structures such as apartment buildings. The gains in residential permits show the recent improvement in home starts will probably extend into early 2020.Unemployment at a five-decade low is gradually driving wage gains, while the bull market in stocks has propelled indexes to record highs and fueled income growth. After the 2018 housing slowdown helped cool price appreciation, the pickup in incomes is giving more Americans the wherewithal to buy a home.“From a macro perspective, mortgage interest rates remained low, continuing to support favorable market conditions, characterized by steady economic expansion, solid job growth, high consumer confidence and positive demographic trends,” KB Home CEO Jeffrey Mezger said on the builder’s Jan. 9 earnings call. “While these factors fueled strong demand, supply continues to be insufficient to meet homebuyers’ needs.”Lean inventory at the home resale level is affording builders an opportunity to step up construction as orders pick up. Should recent indications of stabilization in global manufacturing develop into an actual strengthening in factory output, there’s potential for faster economic growth just as the housing market gains more traction.“While 2019 is in the books, 2020 seems even brighter to us,” Lennar’s Miller said. “We remain encouraged by both market conditions for the remainder of the year and Lennar’s position in it.”To contact the reporter on this story: Vince Golle in Washington at email@example.comTo contact the editors responsible for this story: Scott Lanman at firstname.lastname@example.org, Anita SharpeFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
National homebuilder Lennar Corp. is adding to its list of projects in the Triangle with more than 180 homes proposed for the northwest part of town. Plans have been filed with the town for a development called James Grove at Alston Town Center, a 184-townhome community near Parkside Town Commons and Alston Town Center. The project is on 45 acres situated at 2020 Alston Ave. and is made up of five different parcels owned by a collection of families and individuals in Cary.
Solid housing market fundamentals and strategic land investments bode well for Lennar (LEN). However, rising land and labor costs are pressing concerns.
Newmont, a large mining company, said it would boost its quarterly dividend to 25 cents a share. Homebuilder Lennar will more than triple its 16 cents a share dividend.
Lennar Corp. said late Thursday that its board more than tripled the homebuilder's dividend as part of its program to increase returns to shareholders. Lennar will pay a quarertly dividend of 12.5 cents a share on Feb. 7, up from its previous dividend of 4 cents a share, to shareholders as of Jan. 24. "Given our focus on operational excellence, land strategy and cash flow, we believe a diversified program of debt reduction, stock repurchase and now an increased dividend, is appropriate," said Stuart Miller, Lennar chairman, in a statement. Shares of Lennar rose 0.9% after hours, following a 0.2% rise to close the regular session at $57.69.
Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced that its Board of Directors has increased its annual dividend by 213% to $0.50 per share from $0.16 per share, resulting in a quarterly cash dividend of $0.125 per share for both Class A and Class B common stock. The dividend is payable on February 7, 2020 to holders of record at the close of business on January 24, 2020.
KB Home reported mixed Q4 earnings as recent wildfires weighed on revenue, after top U.S. homebuilder Lennar beat Q4 earnings views Wednesday.
Even as rates are extraordinarily low, even as employment is strong, there's an innate caution developed from the Great Recession.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Home construction stocks and homebuilder-related exchange traded funds stood out on Wednesday after Lennar Corp. (NYSE: LEN) beat estimates, despite falling home prices over the last quarter. On Wednesday, ...
The saga of Lennar Corp.’s proposal for a $5 billion buildout of the Concord Naval Weapons Station will drag on — maybe. The city selected Lennar (NYSE: LEN) in 2016 to develop a master plan for the 2,327-acre site near the North Concord BART, and the Concord City Council was supposed to vote on Tuesday evening on whether Lennar had satisfied a requirement to negotiate a project labor agreement with the Contra Costa Building Trades Council. On Wednesday night, the council chose not to vote on the original agenda item that had been presented and instead passed a resolution asking Lennar and the trades to go back to resume negotiations and come back with a plan.
The decline came after President Donald Trump signaled a de-escalation of tensions with Iran in a speech. Oil prices were rising, stocks were falling, and gold was rallying as traders looked for safe investments. The Wall Street Journal reported that the food-delivery platform has hired an adviser to help it decide on its next steps.
The strength of the job market and low mortgage rates are supporting existing home sales in 2020. Realtor.com Sr. Economist George Ratiu joins On The Move to discuss the scarcity of affordable housing and what else can be expected from the housing market in 2020.