Welcome to our dedicated page for Lennar Corporation news (Ticker: LEN), a resource for investors and traders seeking the latest updates and insights on Lennar Corporation stock.
Lennar Corporation, founded in 1954 in Miami, Florida, is one of the nation's leading homebuilders known for constructing homes for first-time, move-up, luxury, urban, and active adult buyers. Operated under the founding principles of quality, value, and integrity, Lennar has a robust presence across 19 states and more than 44 markets in the United States.
Lennar's core business includes homebuilding operations targeting a wide range of buyers primarily under the Lennar brand name. Beyond homebuilding, the corporation provides comprehensive financial services through Eagle Home Mortgage and North American Title, offering mortgage financing and related services to homebuyers.
Recent achievements highlight Lennar's robust market presence. The company has launched 'Everything's Included' homes nationwide, ensuring that popular options and upgrades like stainless steel appliances, quartz countertops, and designer fixtures are built into the base price of every home. Furthermore, Lennar's financial performance remains strong as evidenced by their latest earnings report showing a significant increase in net earnings compared to the previous year.
Currently, Lennar is actively selling homes at Stonegate Preserve, a new master-planned community in Palmetto, Florida. This development, comprising nearly 800 homes at completion, offers a variety of home designs with modern amenities such as a clubhouse, pool, and fitness center. The homes are available in various floorplans, including the innovative Next Gen® models designed for multi-generational living.
In addition to homebuilding, Lennar has a significant footprint in rental housing through Quarterra Multifamily, developing and managing high-quality multifamily rental properties. Recent projects include Emblem Shakopee and Emblem Oswego, addressing the demand for attainable Class A suburban apartments, and Renata in Santa Rosa, California, focusing on fostering community connectivity and healthy lifestyles.
Financially, Lennar demonstrates a strong balance sheet with substantial liquidity. The company's strategic focus on an even flow operating model and land-light strategy has resulted in improved operational efficiencies and robust financial performance.
Lennar's commitment to innovation is evident through LENX, which drives the company's technology initiatives and strategic investments in housing-related startups. This dedication to forward-thinking solutions positions Lennar as a significant player in the evolving real estate market.
For more information, please visit Lennar's official website or connect with Lennar Associates and Business Partners on LinkedIn.
Quarterra Multifamily, a Lennar subsidiary, has begun leasing at The Piper, a luxury rental community in Redmond, Washington. Developed in partnership with QuadReal Property Group, The Piper offers 284 homes ranging from 475 sq ft studios to 1,400 sq ft three-bedroom units. The community features market-leading amenities and is located near the 640-acre Marymoor Park.
The Piper is part of three joint ventures between Quarterra and QuadReal in the region. It's situated close to the future Southeast Redmond Light Rail Station and major tech employers. As part of the MFTE/AARCH program, 10% of homes are offered at 50% area median income. This marks Quarterra's eleventh development in the Seattle Metro Area.
Quarterra Multifamily, a Lennar subsidiary, has announced the construction of Emblem Mill Road, a 324-home community in McDonough, Georgia. This attainably priced development aims to address the housing shortage for middle-income residents in the Atlanta Metro Area. The community will feature one- and two-bedroom homes ranging from 738 to 1,194 square feet, with modern amenities and high-end finishes.
Emblem Mill Road is strategically located near major retail, dining, and entertainment destinations, as well as key employers. The development utilizes Lennar's scalable construction capabilities to expedite delivery and reduce costs. This project marks Quarterra's fifth venture in the greater Atlanta market and third Emblem community in the area, showcasing the company's commitment to addressing the region's housing needs.
Lennar, a leading U.S. homebuilder, has been named to the Best Places to Work SoCal 2024 list by Best Companies Group for the third consecutive year. The recognition is based on comprehensive, anonymous surveys of Lennar Associates, evaluating factors such as corporate culture, training opportunities, compensation, and overall job satisfaction. Jeremy Parness, Lennar Regional President, attributed the honor to the company's service-oriented culture of integrity and focus on giving back.
The Best Companies Group's Executive Vice President, Jaime Raul Zepeda, highlighted that winners on this list have created exceptional work environments that attract, retain, and motivate top talent. A virtual event celebrating the 2024 Best Places to Work SoCal honorees is scheduled for September 30.
Lennar (NYSE: LEN and LEN.B), a leading U.S. homebuilder, has announced its third quarter earnings release and conference call schedule. The company will release its Q3 2024 earnings report on September 19, 2024, after market close. A conference call will follow on September 20, 2024, at 11:00 a.m. Eastern Time. Investors can access the live webcast through Lennar's website at investors.lennar.com. The call will be archived for 90 days for those unable to attend live.
Lennar, founded in 1954, builds affordable, move-up, and active adult homes. The company also offers mortgage financing, title services, and multifamily rental property development. Its LENX division focuses on technology, innovation, and strategic investments.
Quarterra Multifamily, a Lennar subsidiary, and Nuveen Real Estate have opened Emblem Cane Bay North, a 312-home garden-style apartment community in Summerville, S.C. This joint venture aims to address the shortage of attainable housing for middle-income renters. The community offers:
- Direct access to Cane Bay Plantation trails
- Proximity to schools, retail, dining, and employment hubs
- SmartRent-compatible homes with modern technology
- One-, two-, and three-bedroom apartments (738-1,434 sq ft)
- Amenities include a clubhouse, swimming pool, grilling stations, and dog park
- 520 surface parking spaces and 35 leasable garage spaces
The location provides easy access to major employers like Boeing, Volvo, and Walmart, as well as regional connectivity via nearby highways.
Quarterra Multifamily, a Lennar subsidiary, has begun leasing at Harwood, a 268-home luxury apartment community in North Phoenix. The strategically located development offers studio, one-, and two-bedroom units ranging from 524 to 1,312 square feet. Harwood boasts high-end finishes, smart home features, and extensive amenities including a resort-style pool, fitness center, and pet spa.
The community's location near Loop 101 provides excellent connectivity to major employers, top-rated schools, outdoor recreation areas, and popular retail and dining destinations. Harwood is Quarterra's sixth community in the Phoenix Metro Area, joining Muse, Nexa, Residences Kierland, Skywater, and Vitri.
Lennar , a leading homebuilder in the U.S., has announced the declaration of a quarterly cash dividend of $0.50 per share for both its Class A and Class B common stock.
This dividend is scheduled to be paid on July 19, 2024, to shareholders recorded as of the close of business on July 5, 2024.
Lennar (NYSE: LEN) reported strong second-quarter 2024 results, with net earnings increasing 9% to $954 million and earnings per diluted share rising 15% to $3.45 compared to the same period last year. Revenues grew 9% to $8.8 billion, driven by a 19% increase in new orders and a 15% rise in home deliveries. However, the average sales price per delivered home decreased by 5% to $426,000 amid rising sales incentives.
Operating earnings for homebuilding were $1.3 billion, with gross margins on home sales at 22.6% and net margins at 15.1%. The company also reported $3.6 billion in homebuilding cash and cash equivalents, with no outstanding borrowings on its $2.2 billion revolving credit facility. Lennar repurchased 3.8 million shares for $603 million and repaid $554 million of senior notes during the quarter.
Looking ahead to Q3 2024, Lennar expects to deliver between 20,500 and 21,000 homes with a gross margin of approximately 23%.
Quarterra Multifamily, a subsidiary of Lennar , announced the start of leasing at Dryden Apartments in Denver's Golden Triangle Neighborhood. This luxury high-rise features 420 homes and 9,241 square feet of leasable retail space. Dryden offers amenities such as smart home technologies, a rooftop lounge, a wellness spa, and co-working stations. The community is strategically located near restaurants, art venues, and sports stadiums, with easy access to major thoroughfares and public transport. Leasing begins this summer.
Lennar (NYSE: LEN and LEN.B), a major U.S. homebuilder, will release its Q2 earnings on June 17, 2024, post-market close.
A conference call to discuss the results is scheduled for June 18, 2024, at 11:00 a.m. Eastern Time, and will be live-streamed on Lennar's investor relations website.
Founded in 1954, Lennar builds affordable, move-up, and active adult homes. The company also provides mortgage financing and develops multifamily rental properties nationwide.
Recording of the call will be available on the website for 90 days.
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