Lennar Corporation - LEN STOCK NEWS

LMC, a subsidiary of Lennar, has commenced leasing at The Fynn in Downtown Elmhurst, Illinois, featuring 212 apartments. This eight-story midrise is strategically located close to numerous shops and dining options, enhancing its community appeal. The leasing office opened on March 1, with resident move-ins scheduled for April 15. Each unit boasts modern amenities, including floor-to-ceiling windows and EV-charging stations. The Fynn is LMC's seventh project in the Chicago area, reinforcing its robust development pipeline which includes over 31,800 units valued at more than $12 billion.

LMC, a subsidiary of Lennar (NYSE:LEN), announced recognition for six of its communities in the 2020 Elite 1% ORA Power Rankings, highlighting strong resident satisfaction. Notably, Palmera in Doral, Fla., achieved a score of 97 out of 100, ranking 20th among over 120,000 properties. The Whitney in Flagler Village also made the list with a score of 93. Other recognized communities include Marlowe (Chicago), Denizen (Portland), Lumen at Tysons (Northern Virginia), and The 23 (Dallas). This recognition underscores the effectiveness of LMC's operations and reputation management efforts.

Sunnova Energy International Inc. (NYSE: NOVA) has announced a definitive agreement to acquire Lennar Corporation's (NYSE: LEN, LEN.B) residential solar platform, SunStreet. This acquisition strengthens Sunnova's position as a leading U.S. residential solar and storage provider. The partnership will enable Sunnova to become Lennar's exclusive residential solar provider, enhancing market reach and operational synergies. This strategic move is expected to accelerate growth in the residential solar sector and provide significant benefits to both companies.

LMC, a subsidiary of Lennar (NYSE: LEN), has commenced preleasing at The Ellis, a luxury mixed-use apartment community in Uptown Charlotte. The development includes 549 apartments and 19,000 sq ft of retail space, marking the first new apartments north of Trade Street since 2012. Move-ins for the midrise building start in March, while the high-rise residents will move in by early summer. The Ellis features premium amenities and a Walk Score of 93, ensuring convenient access to urban attractions.

Lennar Corporation (NYSE: LEN, LEN.B) and Ring have launched Lennar Communities Connected by Ring, a suite of smart home products integrated with the Ring app, enhancing the Connected Home experience. This initiative aims to set a new industry standard by providing security and convenience features like the Ring Alarm and Video Doorbell Pro along with various smart devices. The installation occurs during construction, allowing for a seamless transition for homeowners. This program is part of Lennar's Everything's Included initiative and reflects their commitment to innovation and technology in homebuilding.

LMC, a subsidiary of Lennar (NYSE:LEN), has begun leasing at The Bower, a new mixed-use apartment community in Kirkland, Washington. Featuring 339 apartments and 7,500 square feet of retail space, The Bower is located near The Village at Totem Lake, enhancing local amenities including high-end retailers and dining options. Residents benefit from proximity to major employers, including tech giants, and easy access to transportation routes. LMC's portfolio in the Seattle area includes six properties, supporting its $12 billion pipeline of multifamily rental communities.

Lennar Corporation (NYSE: LEN, LEN.B) announced a new stock repurchase program, authorizing the buyback of up to $1 billion worth of shares or 25 million shares. This program replaces the previous authorization from January 2019, during which 14 million shares were repurchased for $781 million. The new buyback has no expiration date, allowing management flexibility to repurchase shares as deemed appropriate. This move aims to enhance shareholder value and reflects the company's confidence in its future performance.

Lennar Corporation (NYSE: LEN and 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 February 12, 2021 to shareholders on record by January 29, 2021. Founded in 1954, Lennar is a leading homebuilder in the U.S., specializing in affordable, move-up, and active adult homes. The company also provides mortgage financing and develops multifamily rental properties across the country.