Lennar Corporation - LEN STOCK NEWS

LMC, a subsidiary of Lennar Corporation (NYSE: LEN), has announced the groundbreaking of Artemas, a new mid-rise apartment community in Everett, Massachusetts. The development will feature 396 apartment homes and 1,500 square feet of retail space, enhancing the area's vibrant lifestyle and connectivity. Scheduled to begin leasing in late fall 2024, Artemas will include a variety of amenities like a pool, fitness center, and indoor/outdoor workspaces. This project marks LMC's entry into the Boston market, alongside another community in Allston.

LMC has commenced leasing at its newest apartment community, The Emery, located in Emeryville, California. This development features 500 apartment homes across four mid-rise buildings, designed with an industrial-revival aesthetic. Positioned near waterfront parks and shopping, The Emery offers studio to three-bedroom units, with amenities like a resort-style pool, fitness center, and co-working spaces. As LMC's eighth Bay Area community, it enhances the rental landscape, building on a robust pipeline of $16.4 billion in multifamily projects.

Lennar Corporation (NYSE: LEN and LEN.B) has declared a quarterly cash dividend of $0.375 per share for both Class A and Class B common stock. This dividend will be payable on July 21, 2022 to shareholders on record as of July 7, 2022. As a leading homebuilder in the United States, Lennar focuses on building quality homes for various demographics, including affordable and active adult housing. The company also offers mortgage financing and has a segment dedicated to multifamily rental properties.

Lennar Corporation reported robust second quarter results with net earnings of $1.3 billion, or $4.49 per diluted share, a 69% increase year-over-year. Excluding specific losses, earnings were $4.69 per share. Revenues surged 30% to $8.4 billion, driven by a 14% rise in home deliveries to 16,549. New orders rose 4% to 17,792 homes, with a dollar value increase of 20% to $9.1 billion. Gross margin on home sales improved to 29.5% and debt to total capital ratio improved to 17.7%. However, the company cautions about market sensitivity due to rising interest rates.

LMC has launched leasing for Halcyon House, introducing 393 new apartment homes in Costa Mesa, CA. Positioned in a culturally vibrant area, residents will enjoy access to renowned dining, shopping, and the esteemed arts district. The community features modern amenities including smart home technologies, pools, a fitness studio, and concierge services. With its strategic location just minutes from top-rated beaches and major attractions, Halcyon House aims to offer a sophisticated living experience. This addition marks LMC's third community in Orange County, enhancing its $16.4 billion development pipeline.

Lennar Corporation (NYSE: LEN, LEN.B) will announce its second-quarter earnings for the period ending May 31, 2022, on June 21, 2022, before market opens. This adjustment is due to June 20 being a federal holiday. A conference call is scheduled for the same day at 11:00 a.m. Eastern Time, accessible via Lennar's investor relations website. The call will also be archived for 90 days for those who cannot attend live. Lennar is a leading homebuilder with a diverse range of residential and financial services across the U.S.

Lennar Corporation (NYSE: LEN, LEN.B) will release its second-quarter earnings on June 20, 2022, following the market close. The earnings pertain to the period ending on May 31, 2022. A conference call is scheduled for June 21, 2022, at 11:00 a.m. Eastern Time, which will be accessible via Lennar's website. The call will be archived for 90 days for those unable to attend live. Established in 1954, Lennar is known for building affordable homes and provides various financial services for home buyers.

LMC, a subsidiary of Lennar Corporation (NYSE: LEN), has opened The Remy, a luxury apartment community in Plantation, Florida. This mid-rise, lakeside development features 271 apartment homes with upscale amenities and modern finishes. Conveniently located near shopping, dining, and recreational parks, residents enjoy access to outdoor activities and proximity to Fort Lauderdale's beaches. The community offers various apartment sizes, including one-, two-, and three-bedroom options with luxury features. As of November 2021, LMC's development pipeline includes 42,000 homes valued at over $16.4 billion.

Lennar Corporation (NYSE: LEN, LEN.B) announced a quarterly cash dividend of $0.375 per share for both Class A and Class B common stock. The dividend is payable on May 10, 2022 to shareholders who are on record as of the close of business on April 26, 2022. This declaration reflects Lennar's commitment to returning value to shareholders and maintaining strong financial health in the housing market.