|Bid||38.15 x 800|
|Ask||38.16 x 1400|
|Day's Range||38.05 - 38.26|
|52 Week Range||20.64 - 38.78|
|Beta (3Y Monthly)||0.48|
|PE Ratio (TTM)||11.61|
|Earnings Date||Oct 22, 2019|
|Forward Dividend & Yield||0.44 (1.15%)|
|1y Target Est||35.65|
Recent upbeat data shows the housing market is stabilizing. But behind the positive trend lies an alarming reality: right now there is more government-backed housing debt than at any other point in U.S. History and taxpayers are on the hook for most of the risk. Adrian Helfert, Westwood Director of Multi-asset Portfolios, joined Yahoo Finance's On The Move to discuss.
Although declining mortgage rates are likely to have aided PulteGroup's (PHM) Q3 earnings, lower deliveries and higher costs are expected to have weighed on the top and bottom lines.
Examining PulteGroup, Inc.'s (NYSE:PHM) past track record of performance is a useful exercise for investors. It allows...
Homebuilding stocks leapt to higher ground in the third quarter, underpinned by the rapid collapse in bond yields. Lower mortgage rates have made buying first homes more affordable for the millennial generation, who have had prior applications denied by risk-averse lenders.
Keep an eye on Nike and AT&T;, Sierra Alpha Research President David Keller says, citing their relative strength amid stock market volatility.
Of all of the sectors and industries included in this list, homebuilder and construction-related companies had the toughest road to hoe, as evidenced by the 62% drop in the Direxion Daily Homebuilders & Supplies Bull 3X Shares (NYSE: NAIL) between September and December in 2018. Data as of Sept 23, 2019, Past performance is not indicative of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Pulte Homes acquired the Oak Tree Golf Club for $31 million with plans to redevelop it into homes. Blackwood Partners and Blackshore Partners, both managed by William M. Murphy in Plantation, sold the 139.2-acre golf course at 2400 Oak Tree Road, Oakland Park, to the national homebuilder (NYSE: PHM). The deal was brokered by F. Thomas Godart of Godart Florida Real Estate Investments.
"He who controls the money supply of a nation controls the nation," U.S. President James A. Garfield reportedly said. The role of the CFO has greater pressures on it than ever before, and it probably is not going to get any easier, the retired CFO of United Community Banks Inc. noted at Atlanta Business Chronicle's 2018 CFO of the Year awards. In May, Atlanta Business Chronicle recognized the 2019 CFO of the Year award winners.
The two-tower project will bring 850 jobs to Atlanta and maintain 2,2025 jobs already in the city. Officials have said it will complete in third-quarter 2021.
Is a recession near? That's the question S&P; 500 investors are asking themselves. But why worry when you can profit from recession-proof stocks?
After big price runs, leaders in an industry group show signs of wear and tear, as institutional selling intensifies. Don't ignore this key sell signal.
A study by online loan marketplace LendingTree found white Americans tend to own a disproportionately high number of homes relative to their overall population in U.S. metro areas.
PulteGroup, Inc. today announced that it will release its third quarter 2019 financial results before the market opens on Tuesday, October 22, 2019. The Company will hold a conference call to discuss its third quarter results that same day at 8:30 a.m.
Lennar's (LEN) land investment plan and dynamic pricing are likely to help it gain in the future. However, higher costs and incentives are risks.
Throughout 2019, I've been ringing the bull horn on housing stocks -- see here and here -- claiming that recession fears which killed housing stocks in late 2018 were overstated. And that a plunge in rates on trade war fears, but against the backdrop of favorable labor conditions, created picture perfect conditions for the housing market in 2019.Fast forward a few months. We are now nearly 10 months in 2019, and things have played out as expected. Rates have plunged. The U.S. labor market has remained healthy. The housing market has bounced back in a big way. So have housing stocks. The SPDR S&P Homebuilders ETF(NYSEARCA:XHB) is up 33% year-to-date, with many housing stocks having sprinted to decade highs in 2019.Will the rally in this red hot group continue for the foreseeable future?InvestorPlace - Stock Market News, Stock Advice & Trading TipsProbably. But at a more muted pace. The fundamentals here remain favorable. Sure, rates have crept higher over the past few weeks. But they remain well below where they were a year ago. The labor market remains healthy, supported by low unemployment and big wage gains. Credit is good. Homebuilder and consumer confidence remain healthy.Net net, the fundamentals support further upside in housing stocks.But the valuation underlying these red hot stocks already reflects this. That is, many of these stocks trade at decade high valuations. Are those rich valuations supported by strong fundamentals? Yes. But the multiple expansion driver that has underpinned the huge YTD rally in housing stocks should dry up soon. * 7 Triple-'F' Rated Stocks to Leave on the Shelf As such, while I remain positive on the group going forward, I am less positive today, than I have been all year long. With that in mind, let's take a look at 5 housing stocks which have sprinted to decade highs, and see where these stocks will go next. LGI Homes (LGIH)Source: Shutterstock YTD Gain: 80%One of the hottest housing stocks in 2019 has been U.S. homebuilder LGI Homes (NYSE:LGIH), with LGIH stock up 80% year-to-date to fresh decade highs.The story at LGI Homes is simple. The company builds affordable, new construction homes in 26 markets and 16 states across the country. This gives LGI Home broad exposure to the low- to middle-income demographic across multiple geographies. This demographic tends to be very economically confident when the U.S. labor market is doing well and tends to spend big on big ticket projects when rates are low. That's exactly what we have today. Thus, it should be no surprise that as rates have plunged and wages have gone up, LGI Homes has sold a lot of homes.All of this should continue for the foreseeable future. The only problem is that LGIH stock trades at 14-times trailing earnings. That's nearing a decade high valuation for this stock. Before, spikes towards a mid-teen earnings multiple have been unsustainable for LGIH stock. This history of volatility at these valuation levels gives me pause.As such, on the heels of an 80% year-to-date rally, LGIH stock may be done rallying for the foreseeable future. PulteGroup (PHM)Source: Shutterstock YTD Gain: 37%When it comes to homebuilders, very few can match the breadth and depth of PulteGroup (NYSE:PHM), which has rallied nearly 40% this year to decade highs.PulteGroup is big. They are the nation's third largest homebuilder. PulteGroup also has healthy geographic diversity -- they build homes across 25 states and in nearly 50 major markets -- and equally healthy demographic diversity -- their demographic portfolio breaks down roughly into 30% entry-level buyers, 30% move-up buyers, 15% luxury buyers and 25% active adult buyers.Because of this wide exposure, as goes the U.S. housing market, so goes PulteGroup's numbers. Thus, as the U.S. housing market has gained momentum in 2019 amid plunging rates and improving labor conditions, PulteGroup's numbers have similarly gained momentum. As they have, PHM stock has soared.The attractive thing about PHM stock? It only trades at 10-times forward earnings. Sure, that's up big from where it traded at the beginning of the year. But it's still just about average for a homebuilder, with the average forward earnings multiple in the homebuilding sector hovering around 10. It also comes against what analysts see as 13% EPS growth over the next few years. * 7 Worst Stocks in the S&P 500 in 2019 In other words, despite a near 40% rally year-to-date, PHM stock is still cheap -- too cheap considering its favorable growth fundamentals. As such, this stock can and should head higher going forward. NVR (NVR)Source: Shutterstock YTD Gain: 50%Up 50% year-to-date and now trading at decade highs, homebuilder NVR (NYSE:NVR) has been a huge winner as the U.S. housing market has sprung back to life in 2019.This should be no surprise. Much like PulteGroup, NVR is a big homebuilder with broad demographic and geographic diversity -- the company builds homes in 14 states and 32 metro areas. Consequently, also much like PulteGroup, as goes the U.S. housing market, so goes NVR. So, as rates have plunged and incomes have climbed in 2019, NVR has sold a ton of homes at healthy profit margins -- sparking a 50% rally in NVR stock.Favorable growth drivers will remain in place for the foreseeable future. But valuation is a risk here. NVR stock trades at 18-times forward earnings. That's nearly double the homebuilder market's average 10-times forward earnings multiple. Also, that 18-times forward multiple is being awarded to NVR for reporting just 5% revenue growth and 8% net profit growth through the first half of 2019. That isn't big growth. But 18 is a big forward earnings multiple for a homebuilder.As such, the valuation on NVR stock seems too extended here. Further upside in the near term seems unlikely. D.R. Horton (DHI)Source: Shutterstock YTD Gain: 49%The number one homebuilder in America by closings volume -- D.R. Horton (NYSE:DHI) -- has naturally been a big winner in 2019 as the U.S. housing market has materially improved. Year-to-date, DHI stock is up 50%, and it presently trades right around decade highs.There's more to DHI than just being big. Specifically, DHI has dominant and leading market share in rapidly expanding metro areas like Phoenix and Dallas Fort Worth. Leading exposure to those hyper-growth markets gives DHI more growth firepower than most other homebuilders, and as such, DHI reported an impressive 11% revenue growth rate last quarter.Despite being one the most impressive growers in the space, DHI stock trades at a fairly cheap 12-times forward earnings multiple. Sure, that's above the homebuilder average multiple. But DHI is also growing more quickly than the average homebuilder. Indeed, a 12-times forward earnings for double-digit revenue growth seems like a steal. * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars Net net, DHI stock -- despite being up nearly 50% year-to-date -- may not be done rallying just yet, since the valuation here leaves room for more upside. Meritage Homes (MTH)Source: Squidish via Flickr (modified)YTD Gain: 92%The biggest gainer on this list, and one of the hottest housing stocks in 2019, is Meritage Homes (NYSE:MTH), with a year-to-date gain of over 90%.MTH stock is up big in 2019 because the U.S. housing market has sprung back to life, and that has recharged the Meritage Homes growth narrative. But MTH stock is up more than other housing stocks in 2019 because of favorable demographic tailwinds. That is, the big growth area in the U.S. housing market is Millennials finally moving out from their parents and buying their first home. This is what Meritage focuses on -- building affordable, energy-efficient homes that are attractive to that cohort. Indeed, entry-level and first move-up purchases accounted for 90% of order volume in the second quarter of 2019.As such, favorable demographic tailwinds have coupled with positive macro-economic housing conditions to turn MTH stock into a big winner in 2019. Can the rally continue? So long as those favorable demographic tailwinds drive better-than-industry growth, then yes. But as soon as those tailwinds dry up, MTH stock could drop, since it is trading at an above-sector average 13-times forward earnings multiple.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. The post 5 Red Hot Housing Stocks Sprinting to Decade Highs appeared first on InvestorPlace.
Nobel Prize-winning economist Robert Shiller says housing lessons learned from the Great Recession might be losing their effect.