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Pre-Market:
Chart Events
Performance Outlook
| Previous Close | 111.94 |
| Open | 112.85 |
| Bid | 0.00 x 900 |
| Ask | 0.00 x 800 |
| Day's Range | 111.36 - 113.92 |
| 52 Week Range | 69.90 - 133.24 |
| Volume | |
| Avg. Volume | 2,158,355 |
| Market Cap | 31.749B |
| Beta (5Y Monthly) | 1.48 |
| PE Ratio (TTM) | 8.29 |
| EPS (TTM) | 13.48 |
| Earnings Date | Dec 12, 2023 - Dec 18, 2023 |
| Forward Dividend & Yield | 1.50 (1.34%) |
| Ex-Dividend Date | Jul 06, 2023 |
| 1y Target Est | 142.00 |
Fair Value
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Related Research
- Lennar CorporationDaily Spotlight: Adapting to "Higher for Longer" Mortgage RatesOn the recent 2Q earnings call, Lennar's Executive Chairman, Stuart Miller said that the "new normal" in the U.S. housing market includes higher mortgage rates and strong demand for affordable homes amid short supply. Prospective buyers are employed and confident they will remain employed. They have now adapted to "higher for longer" mortgage rates and are willing to buy or rent what they can afford, Mr. Miller said. The 30-year fixed mortgage rate rose to 7.19% yesterday, according to Freddie Mac, and hasn't been below 6.5% since May. Homebuilders are also adapting, but their confidence declined for a second month in September, with 32% of builders cutting prices (by an average of 6%) and 59% offering incentives according to a survey the National Association of Home Builders has conducted for over 35 years. Housing starts declined 14.8% year-over-year in August according to the Department of Housing and Urban Development. Yesterday, the National Association of Realtors reported that existing home sales for August declined 15.3% from prior-year levels to a seasonally adjusted annual rate of 4.04 million homes. Inventory remained slim at about a three-month supply. New-home sales for August will be released next Tuesday. We expect sales of 705,000 homes at an annual pace, which would be up 10.5% from August 2022. The S&P/Case-Shiller National Home Price Index for July will also be released on Tuesday. It was flat year-over-year in June against the prior year's record level. We don't expect a significant decline, when existing-home prices were up 3.9% in August according to yesterday's NAR report. Mr. Miller said Lennar has reduced prices 10%-11% from the peak, to approximately $448,999. He expects pricing to remain fairly constant. In this tumultuous housing market, Argus recommends Lennar, D.R. Horton and Toll Brothers, companies that are adapting to market conditions.RatingFair ValueEconomic Moat6 days agoArgus Research
- Yahoo Finance Video
Homebuilder stocks feeling the heat after rising rates
The current interest rate environment is driving mortgage rates higher, which in turn are having their own effect on homebuilder stocks, such as D.R. Horton (DHI), Lennar (LEN), and PulteGroup (PHM). Many stocks across the homebuilding sector have been noted to be in a downturn since the Federal Reserve's rate pause last week. Yahoo Finance's Jared Blikre joins the show to break down how these stocks are performing amid elevated volatility. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
PR NewswireLennar Corporation Declares Quarterly Dividends
Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.375 per share for both Class A and Class B common stock payable on October 26, 2023 to holders of record at the close of business on October 12, 2023.
BenzingaWarren Buffett Sold His Only REIT Last Year, But He's Betting Big On Housing With Three New Investments
Warren Buffett isn't known for being a big real estate investor, but he has invested in real estate investment trusts (REITs) in the past and reaped significant rewards. For instance, Buffett's company Berkshire Hathaway Inc. (NYSE:BRK) used to own shares of STORE Capital Corp., a REIT specializing in single-tenant operational real estate (STORE). In September 2022, STORE Capital announced that it would be acquired by Singapore's sovereign wealth fund GIC and Oak Street in an all-cash transactio
