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.
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.
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.
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.
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.
Lennar Corporation (NYSE: LEN and LEN.B) announced its fourth quarter earnings will be released on December 15, 2021, after market close. A conference call is scheduled for December 16, 2021, at 11:00 a.m. Eastern Time, and will be accessible via Lennar's website. The call will also be archived for 90 days for those unable to participate live. Founded in 1954, Lennar is a leading builder of homes across various segments, including multifamily properties and financial services.
Lennar has announced a new residential community in Northern California, featuring 102 attached homes built using Veev's innovative panelized construction technology. This project follows Lennar's $200 million investment in Veev, aimed at streamlining homebuilding processes. Veev's technology allows for homes to be constructed up to four times faster than traditional methods. The collaboration reflects both companies' commitment to integrating advanced technology in home construction, enhancing the living experience for buyers.
LMC, a subsidiary of Lennar, has opened Camber, a new apartment community in Denver Gateway Center. This community features 240 garden-style homes and is strategically located between Downtown Denver and Denver International Airport. The area anticipates significant job growth, adding 13,400 new jobs in 2021. Camber offers modern amenities including a swimming pool, fitness center, and pet spa, with easy access to transportation options. This marks LMC's eighth development in Denver, further expanding its multifamily rental portfolio valued at over $14.5 billion.
Lennar Corporation's subsidiary, LMC, has initiated leasing at its new luxury apartment community, Bowen River Oaks, located in Houston's prestigious River Oaks District. This 25-story high-rise features 403 apartment homes, lending residents access to upscale dining and shopping. The apartments range from 561 to 2,259 square feet, equipped with modern amenities and smart technology. Bowen River Oaks includes a resort-style pool, fitness center, and business center, enhancing the luxury living experience. The community is strategically located near major employers and attractions, with a project pipeline valued at over $14.5 billion.
Lennar Corporation (NYSE: LEN, LEN.B) has announced an increase in its stock repurchase program by up to $1 billion in purchase price or 25 million shares of its Class A and Class B common stock. This authorization has no expiration date, reflecting the company's commitment to enhancing shareholder value. The repurchase program indicates confidence in the company's prospects, providing an opportunity for shareholders to benefit from enhanced earnings per share (EPS) through reduced share count.
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