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Lennar Corporation - LEN STOCK NEWS

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.

News

Lennar Corporation Increases Annual Dividend to $2.00 Per Share and Share Repurchase Authorization by $5 billion

Rhea-AI Summary
Lennar Corporation (NYSE: LEN and LEN.B) has announced an increase in its annual dividend to $2.00 per share from $1.50 per share, resulting in a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock. The dividend is payable on February 7, 2024, to holders of record at the close of business on January 24, 2024. Additionally, Lennar's Board of Directors has authorized an increase to the Company's stock repurchase program to enable the repurchase of up to an additional $5 billion in value of its outstanding Class A or Class B common stock. The repurchase authorization has no expiration date. Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar, stated that the company's strong balance sheet and cash position, along with its operating strategy driving cash flow, have led to a focus on maximizing total shareholder returns, resulting in the decision to increase both the dividend and the share repurchase authorization.
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LENNAR GROWS NEW YORK PRESENCE WITH ACQUISITION OF 1,273 HOMESITES IN TUXEDO RESERVE MASTER-PLANNED COMMUNITY

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Lennar (LEN) proudly announces the acquisition of nine neighborhoods totaling 1,273 homesites in the Tuxedo Reserve (formerly known as Tuxedo Farms) master-planned community located in Tuxedo, New York from Related Companies. Lennar will offer a variety of townhomes, stacked townhomes, single-family, and Active Adult neighborhoods, with a grand opening planned for the second half of 2024. The acquisition aims to expand Lennar's presence in the New York market and bring design expertise and innovation to this one-of-a-kind location, offering a small town feel with convenient commutable access to New York City and Northern New Jersey. The master-planned community will feature exciting amenities including hiking and biking trails, sports courts, and a clubhouse.
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Lennar Reports Fourth Quarter and Fiscal 2023 Results

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Lennar Corporation (NYSE: LEN and LEN.B) reported net earnings of $1.4 billion ($1.5 billion excluding adjustments) in Q4 2023 and $3.9 billion ($4.1 billion excluding adjustments) for the fiscal year 2023. New orders increased 32% to 17,366 homes, with a dollar value of $7.3 billion. Deliveries increased 19% to 23,795 homes. Total revenues were $11.0 billion in Q4 2023 and $34.2 billion for the fiscal year 2023. Homebuilding operating earnings were $1.9 billion, and Financial Services operating earnings were $168 million. Lennar's homebuilding debt to total capital improved to 9.6%, and the company repurchased $110 million aggregate principal amount of senior notes due in April 2024 and November 2027.
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LENNAR CORPORATION'S FOURTH QUARTER EARNINGS CONFERENCE CALL TO BE BROADCAST LIVE ON THE INTERNET

Rhea-AI Summary
Lennar Corporation (NYSE: LEN and LEN.B) will release Q4 2023 earnings on December 14, 2023, with a conference call on December 15, 2023. Founded in 1954, Lennar is a leading homebuilder offering affordable, move-up, and active adult homes, as well as mortgage financing and multifamily rental properties.
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LENNAR DEBUTS EXCITING NEW HOME COMMUNITY ACADIA POINTE IN SCENIC BEND WITH EASY ACCESS TO OREGON'S MOST BEAUTIFUL OUTDOOR RECREATION

Rhea-AI Summary
Lennar announces debut of new model homes at Acadia Pointe community in Central Oregon, offering visitors the opportunity to experience the flowing space and thoughtful design of Lennar homes. Acadia Pointe offers limited opportunity to own a quality new Lennar home in a desirable town. Lennar's Acadia Pointe homes range from 3 to 4 bedrooms and include Lennar's signature Everything's Included program. Next Gen floorplans provide a main home plus an attached private suite. Central Oregon offers year-round recreational activities. Acadia Pointe is just 10 minutes from the popular Old Mill District.
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Lennar Corporation Declares Quarterly Dividends

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Lennar Corporation declares quarterly cash dividend of $0.375 per share for Class A and Class B common stock.
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Lennar Elects Dacona Smith to the Board of Directors

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Lennar Corporation announces appointment of Dacona Smith to its Board of Directors, bringing expertise in operational efficiency and leadership from Walmart.
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Lennar Reports Third Quarter 2023 Results

Rhea-AI Summary
Lennar Corporation reports Q3 net earnings of $1.1 billion, with diluted earnings per share of $3.87 excluding mark-to-market losses. Deliveries increased 8% to 18,559 homes. New orders increased 37% to 19,666 homes with a dollar value of $8.6 billion. Backlog of 21,321 homes with a dollar value of $9.9 billion. Total revenues of $8.7 billion. Homebuilding operating earnings of $1.5 billion. Gross margin on home sales of 24.4%. Financial Services operating earnings of $148 million. Multifamily operating loss of $9 million. Lennar Other operating loss of $26 million. Homebuilding debt to total capital of 11.5%. Redeemed $425 million of 5.875% homebuilding senior notes due November 2024. Repurchased $50 million aggregate principal amount of senior notes due in fiscal year 2024. Repurchased 3 million shares of Lennar common stock for $366 million.
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Quarterra Multifamily and QuadReal Reach Key Milestones at Marymoor Submarket Developments in Redmond

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Quarterra Multifamily and QuadReal Property Group have announced key milestones at two luxury communities in the Marymoor submarket of Redmond. Spectra, a luxury mixed-use community, opened its third and final phase with delivery of the 187-home West Building. The Piper, a 284-home luxury community, reached the topping out point in its construction. Both communities aim to provide high-quality housing and amenities in the burgeoning Marymoor Village.
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LENNAR CORPORATION'S THIRD QUARTER EARNINGS CONFERENCE CALL TO BE BROADCAST LIVE ON THE INTERNET

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Lennar Corporation to release Q3 earnings on September 14, 2023 and hold conference call on September 15, 2023.
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FAQ

What is the current stock price of Lennar Corporation (LEN)?

The current stock price of Lennar Corporation (LEN) is $138.08 as of December 20, 2024.

What is the market cap of Lennar Corporation (LEN)?

The market cap of Lennar Corporation (LEN) is approximately 37.2B.

What is Lennar Corporation's primary business?

Lennar Corporation is one of the leading homebuilders in the United States, constructing homes for first-time, move-up, luxury, urban, and active adult buyers.

Where is Lennar Corporation headquartered?

Lennar Corporation is headquartered in Miami, Florida.

What financial services does Lennar offer?

Lennar offers mortgage financing and related services through Eagle Home Mortgage and North American Title.

What recent projects has Lennar launched?

Lennar has recently launched 'Everything's Included' homes nationwide and is actively selling homes at Stonegate Preserve in Palmetto, Florida.

What is the 'Next Gen®' model?

The 'Next Gen®' model is a multi-generational home design featuring a dedicated entrance, kitchenette, living space, bedroom, and bath, suitable for aging parents or grown children.

What is LENX?

LENX is Lennar's technology and innovation segment, driving strategic investments in housing-related startups and technology initiatives.

What types of rental properties does Lennar develop?

Through Quarterra Multifamily, Lennar develops and manages high-quality multifamily rental properties, including suburban apartments and urban multifamily communities.

How does Lennar ensure quality in their homes?

Lennar ensures quality by adhering to their founding principles of quality, value, and integrity, and by incorporating popular options and upgrades in their 'Everything's Included' program.

How has Lennar performed financially recently?

Lennar has shown strong financial performance with significant increases in net earnings and robust liquidity as demonstrated in their latest earnings reports.

Where can I find more information about Lennar Corporation?

More information can be found on Lennar's official website at www.lennar.com.

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Lennar Corporation

NYSE:LEN

LEN Rankings

#340 Ranked by Market Cap
#1607 Ranked by Dividends

LEN Stock Data

37.20B
241.34M
2.58%
93.74%
2.33%
Residential Construction
General Bldg Contractors - Residential Bldgs
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United States of America
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