Lennar Corporation - LEN STOCK NEWS

LMC, a subsidiary of Lennar, announces that Senior VP of Marketing, Beth Tuttle, has been accepted into the Forbes Communications Council. This invitation-only community recognizes accomplished leaders in communications and marketing. Tuttle’s acceptance is based on her impactful business growth and notable achievements. As a member, she will gain exclusive networking opportunities, access to vetted business partners, and support from Forbes. Tuttle expressed her excitement about contributing to the Council and leveraging her expertise to enhance LMC's brand.

LMC, a subsidiary of Lennar, has closed on land for Paxton, a luxury mixed-use community in Tysons, Northern Virginia, with first move-ins expected in early 2024. The project includes 447 apartments and 14,713 square feet of retail space. Paxton will feature diverse apartment types with modern amenities, situated near parks, dining, and major transportation links. The area is part of the larger Scotts Run development, which will encompass 6.5 million square feet of mixed-use space. LMC's portfolio includes a 31,800-unit pipeline worth over $12 billion.

LMC, a subsidiary of Lennar, has announced the land closing for its new multifamily development, Artemas, in Everett, Massachusetts. This mid-rise community will feature 396 apartment homes and 1,500 square feet of retail space, strategically located in Everett's 'Fermentation District' near Downtown Boston. Residents will enjoy amenities such as a pool, fitness center, and work-from-home spaces. Leasing is expected to start in mid-2023. LMC's portfolio includes a pipeline of 31,800 units valued over $12 billion.

Lennar Corporation (NYSE: LEN, LEN.B) announces that Jeff Roos, Regional President of its Western Region, is inducted into the California Homebuilding Foundation's (CHF) Hall of Fame. This honor recognizes individuals for outstanding contributions to the homebuilding industry. With over 35 years in the sector, Roos has been pivotal in Lennar's growth since 1996, including founding the Lennar Charitable Housing Foundation. The 36th annual Hall of Fame gala will be hosted virtually on June 24, 2021, to celebrate industry leaders dedicated to workforce education.

LMC, a subsidiary of Lennar (LEN), announced that its Human Resources Director, Nicole Brown, has joined the Forbes Human Resources Council. This exclusive community recognizes HR executives for their contributions to business growth. Brown's acceptance reflects her impactful track record and the company's commitment to leadership in the multifamily sector. As a council member, she gains access to resources and opportunities to influence HR discourse and collaborate with other industry leaders.

LMC, a subsidiary of Lennar, has commenced preleasing at Triangle Square Apartments in Bucktown, Chicago. This seven-story midrise features 298 rental units and 21,223 sq. ft. of retail space, with move-ins starting in July 2021. Residents will enjoy a host of amenities including a 30,000 sq. ft. outdoor deck, a pool with skyline views, and proximity to public transport. This marks LMC's eighth development in the Chicagoland area, adding to its impressive pipeline of over 31,800 units valued at more than $12 billion.

ING Capital LLC has successfully closed a $33MM Green Incentive loan with LMC, a subsidiary of Lennar, aimed at enhancing sustainability in multifamily housing. This innovative loan tied to The Maddox in Katy, Texas, includes financial incentives for pursuing green certification. These incentives comprise interest margin reductions based on the commitment and achievement of green certification, along with a reimbursement for certification costs. This initiative aligns with ING's commitment to support sustainable practices and is a unique offering in the U.S. lending market.

Lennar Corporation (NYSE: LEN, LEN.B) has declared a quarterly cash dividend of $0.25 per share for both Class A and Class B common stock. This dividend is payable on July 19, 2021 to shareholders on record as of July 2, 2021. With a focus on building affordable homes, Lennar offers a range of housing options and supports finance through its Financial Services segment. The company continues to be a leader in the homebuilding industry, enhancing its offerings through technology and strategic investments.

Lennar Corporation reported strong second quarter results for 2021, with net earnings of $831.4 million, or $2.65 per diluted share, reflecting a 61% increase year-over-year. Excluding non-operational gains/losses, earnings rose to $923.6 million, or $2.95 per share. New orders reached 17,157, a 32% increase, and backlog homes rose 38% to 24,741. The company achieved a gross margin of 26.1%, the highest in its history. With $2.6 billion in cash and no debt, Lennar's outlook remains positive for the rest of the year.