STOCK TITAN

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.

Rhea-AI Summary

LMC, a subsidiary of Lennar (NYSE:LEN, LEN.B), announced that eight of its communities have received Energy Star certifications for their energy efficiency. Notably, three communities achieved perfect EPA scores of 100, highlighting their superior performance. Energy Star certified buildings, on average, utilize 35% less energy and emit 35% less greenhouse gases than non-certified buildings, while also costing up to 50 cents less per square foot to operate. This achievement underscores LMC's commitment to sustainability and green initiatives.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.02%
Tags
none
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.91%
Tags
none
-
Rhea-AI Summary

Lennar Corporation (NYSE: LEN, LEN.B) reported Q1 2022 net earnings of $503.6 million ($1.69 per share), down from $1 billion in Q1 2021. Excluding mark-to-market losses, earnings rose to $800.2 million ($2.70 per share), up from $642.7 million in the prior year. Revenues increased by 16% to $6.2 billion, driven by higher home deliveries and average sales prices. Homebuilding gross margins improved to 26.9%. The company repurchased 5.3 million shares for $526.3 million and has a $2 billion stock repurchase authorization. Guidance for FY 2022 deliveries is raised to 68,000 homes.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.88%
Tags
none
Rhea-AI Summary

Lennar Corporation (NYSE: LEN and LEN.B) will release its first quarter earnings for the period ending February 28, 2022, after market close on March 16, 2022. A conference call is scheduled for March 17, 2022, at 11:00 a.m. Eastern Time, which will be accessible via the Company's website. Lennar is recognized as a leading homebuilder and provides a range of services including mortgage financing through its Financial Services segment. Founded in 1954, Lennar is focused on building affordable homes for diverse generations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.59%
Tags
-
Rhea-AI Summary

CPP Investments and LMC have formed a joint venture to develop multifamily communities across major U.S. markets, launching with five seed assets totaling 1,371 apartment homes. The venture allocates $979 million in equity, with CPP Investments holding a 96% stake. This initiative targets high-demand areas where housing supply lags behind renter demand, aiming for long-term returns. LMC, a key player in apartment development, has a significant portfolio and experience, enhancing the JV's potential for success in meeting strong housing needs.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.73%
Tags
none
-
Rhea-AI Summary

On February 10, 2022, LMC, a subsidiary of Lennar, reported that three of its apartment communities were ranked in the 2021 Elite 1% ORA Power Rankings. The J Turner Research list rated 128,000 multifamily communities, with only 1,564 making the top 1%. The communities recognized include Palmera in Doral, Fla., The Morris in Nashville, Tenn., and The Emerson in Oak Park, Ill., all scoring 94, well above the average score of 65. LMC's president celebrated the achievement as recognition of their commitment to resident experience.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.53%
Tags
none
News
Rhea-AI Summary

LMC, a subsidiary of Lennar, has opened the Emblem Grayson apartment community in Loganville, GA, featuring 344 rental units designed for middle-income renters. The garden-style community includes modern amenities and offers easy access to Atlanta and surrounding areas. The opening responds to the nationwide shortage of attainable housing, integrating contemporary living with community features. Residents can enjoy a variety of local recreational and dining options while living in a well-connected suburban environment.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.52%
Tags
none
-
Rhea-AI Summary

Lennar Corporation (NYSE: LEN, LEN.B) announced an increase in its annual dividend from $1.00 to $1.50 per share, resulting in a quarterly dividend of $0.375. This dividend will be paid on February 10, 2022 to shareholders on record by January 27, 2022. Executive Chairman Stuart Miller stated that the decision is part of their strategy to enhance total shareholder returns and reflects confidence in the company’s cash flow generation and operational stability.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.56%
Tags
dividends
-
Rhea-AI Summary

LMC, a subsidiary of Lennar, has launched leasing for Citizen, a new high-rise community in Denver's Golden Triangle, featuring 393 luxury apartments and townhomes. Positioned near cultural landmarks, Citizen offers amenities like a rooftop pool, fitness center, and expansive living spaces. Residents can choose from various floor plans, ranging from studio to two-bedroom units, with modern finishes and views of the Rocky Mountains. This development marks LMC's tenth community in the Denver area, following a pipeline of over 39,500 units valued at $14.5 billion.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.56%
Tags
none
Rhea-AI Summary

Lennar reported a solid fourth quarter for 2021, with net earnings increasing 39% to $3.91 per diluted share, totaling $1.2 billion. Revenues rose 24% to $8.4 billion, driven by an 11% rise in home deliveries to 17,819. For the fiscal year, net earnings reached $4.4 billion, an 82% increase, with revenues at $27.1 billion. The backlog also saw impressive growth of 26%, equating to 23,771 homes. The company maintains a strong balance sheet with $2.7 billion in cash and no debt on its credit facility, while expecting to deliver 67,000 homes in 2022.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.09%
Tags

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.

Lennar Corporation

NYSE:LEN

LEN Rankings

LEN Stock Data

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