Welcome to our dedicated page for Hovnanian Enterprises news (Ticker: HOV), a resource for investors and traders seeking the latest updates and insights on Hovnanian Enterprises stock.
Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is a leading national homebuilder headquartered in Matawan, New Jersey. The company, traded under the symbol HOV, operates across numerous states including Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C., and West Virginia. Hovnanian is renowned for its diversified portfolio of homebuilding services, offering a wide array of attached and detached home styles to meet the needs of first-time buyers to luxury home seekers.
As the developer of K. Hovnanian’s® Four Seasons communities, Hovnanian is one of the largest builders of active lifestyle communities in the nation. The company markets and sells homes under several trade names, including K. Hovnanian® Homes, Brighton Homes®, and Parkwood Builders.
Hovnanian conducts its operations through two primary segments: homebuilding and financial services. The homebuilding operations are geographically segmented into three divisions: Northeast, Southeast, and West, with the West segment generating the maximum revenue.
Recent highlights include a notable partnership with GTIS Partners, a global real estate investment firm, to develop eight additional homebuilding communities. This expansion encompasses 1,392 homes across New Jersey, Florida, Delaware, and South Carolina, with a total investment of approximately $800 million. This partnership has proven fruitful, representing around $6 billion in total project costs across 12,600 homebuilding units, reflecting both firms' strong working relationship and collaborative success.
Hovnanian Enterprises will be releasing its fourth quarter and fiscal year financial results for the period ending October 31, 2023, on December 5, 2023. The company will host a webcast to discuss these results, providing insights into its performance and future outlook.
For those interested in opportunities with Hovnanian Enterprises, career listings can be found at http://www.khov.com/careers. Additional information about Hovnanian Enterprises, including investor relations, can be accessed through their website at http://www.khov.com.
Canyon Partners Real Estate and Iron Point Manager have established a joint venture to construct the Iron Point Apartments in Folsom, CA. This project consists of 253 Class A apartment units across 11 buildings and received $16 million in preferred equity from Canyon, alongside a senior construction loan from Umpqua Bank. Construction is set to begin immediately, aiming for resident move-ins by Fall 2024. The development will feature numerous amenities and is strategically located near major employment centers like Intel and Kaiser Permanente. With a total investment around $24 billion in assets managed by Canyon, this multifamily project responds to the growing housing demand in Sacramento, a strong performing market for institutional multifamily investments.
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