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The acquisition of CalAtlantic is going to position Lennar (LEN) as one of the country's top homebuilders. However, gross margin compression due to rising land and labor costs pose risks.
Bringing CalAtlantic into the fold led to large upticks in deliveries, orders, and backlog for the homebuilder. Management also thinks the market will only get stronger from here.
Moody's Investors Service took CalAtlantic Group, Inc.'s (CalAtlantic) ratings off review for upgrade and upgraded the rating on the eight series of CalAtlantic notes that were exchanged for Lennar Corporation ...
Lennar Corp. could supersize its revenue in the coming years now that it’s the nation’s largest homebuilder, but it will face the same challenges impacting many for-sale developers in a rent-happy economy. Miami-based Lennar (LEN) purchased CalAtlantic Group, combining to control 250,000 homesites in 49 markets across 21 states. Lennar’s main advantage with this deal is acquiring land in desirable markets at a time when demand from buyers is strong, said John McManus, VP and editorial director for the residential group of Hanley Wood and editor of Builder magazine.
Lennar Corp. has reclaimed its spot as the nation’s largest homebuilder after completing the acquisition of CalAtlantic Group. Miami-based Lennar (LEN) and Virginia-based CalAtlantic (CAA) both received shareholder approval for the merger on Monday. Each share of CalAtantic may be exchanged for either 0.885 shares of Lennar or $48.26 in cash.
The transaction, which is in the form of a merger of CalAtlantic into a wholly-owned subsidiary of Lennar, was overwhelmingly approved today by both companies' stockholders. Stuart Miller, Chief Executive Officer of Lennar, said, "We are extremely pleased to announce the completion of this strategic combination with CalAtlantic, creating the nation's leading homebuilder.
FORT COLLINS, Colo., Feb. 9, 2018 /PRNewswire/ -- CalAtlantic Homes, one of the nation's largest homebuilders, today announced the Grand Opening of two new home collections in North Fort Collins, CO, bringing nine distinctive paired and single-family floor plans to the sought-after Mosaic master-planned community in Fort Collins' new city center. The public is invited to tour four upscale model homes at Mosaic during a Grand Opening weekend, being held Saturday, February 10 from 10:00 a.m. to 6:00 p.m., and Sunday, February 11 from 12:00 p.m. to 6:00 p.m. "Mosaic is just a stone's throw from Fort Collins' most popular amenities, including Old Town, College Avenue, Brewery Triangle and a thriving employment corridor," said Dan Nickless, Denver Division President for CalAtlantic Homes.
PHOENIX , Feb. 9, 2018 /PRNewswire/ -- CalAtlantic Homes, one of the nation's largest homebuilders, is now selling Arbor and Desert Bloom at Western Enclave, two carefully crafted new home collections ...
Homebuilder Lennar Corporation (NYSE: LEN ) announced a deal in October to buy CalAtlantic Group Inc (NYSE: CAA ) for $7.7 billion, which would make the company one of the top three homebuilders in the ...
Jacobs Engineering Group Inc.'s (JEC) stellar Q1 results driven by solid performance of the Aerospace & Technology and Buildings & Infrastructure segments.
NEW YORK , Feb. 6, 2018 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600: S&P SmallCap 600 constituent Boyd Gaming Corp. (NYSE:BYD) will ...
The Zacks Analyst Blog Highlights: CalAtlantic, D.R. Horton, PulteGroup, Beacon Roofing and Lumber Liquidators
NEW YORK, NY / ACCESSWIRE / January 18, 2018 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a boutique securities firm headquartered at the Empire State Building in New ...
SALT LAKE CITY, Jan. 18, 2018 /PRNewswire/ -- CalAtlantic Homes, one of the nation's leading homebuilders, today announced the acquisition of homebuilding operations of Utah-based Candlelight Homes, one of the largest privately held homebuilders in the Utah market. As a result of the transaction, CalAtlantic now owns or controls an additional 2,500 homesites across 19 communities, ten of which are actively selling. In connection with the acquisition, CalAtlantic has extended offers of employment to all employees of Candlelight Homes who were engaged in the company's homebuilding business.
Jacobs Engineering Group's (JEC) joint-venture business secures contract for providing engineering design services for Melbourne's prestigious $5.1-billion transport infrastructure project.
ARLINGTON, Va. , Jan. 10, 2018 /PRNewswire/ -- CalAtlantic Group, Inc. (NYSE: CAA) today announced selected operating results for the fourth quarter and fiscal year ended December 31, 2017 . Net new orders ...
The earnings season will get going with results from homebuilders Lennar and KB Home as stocks in the sector stay hot following passage of steep tax cuts.
TEMESCAL VALLEY, Calif., Jan. 5, 2018 /PRNewswire/ -- CalAtlantic Homes, one of the nation's largest homebuilders, today announced the Grand Opening of Sterling at Terramor, a new age-exclusive neighborhood ...
Foremost Companies has announced the grand opening of its third 55+ neighborhood and fifth neighborhood overall at Terramor. This new unique multigenerational master-planned community will include 1,443 single-family homes spanning sixteen neighborhoods when completed.