Welcome to our dedicated page for Lgi Homes news (Ticker: LGIH), a resource for investors and traders seeking the latest updates and insights on Lgi Homes stock.
LGI Homes, Inc. (symbol: LGIH) is a premier homebuilder based in The Woodlands, Texas, dedicated to making homeownership dreams come true since 2003. Specializing in the design, construction, and sale of new homes, LGI Homes strategically places its beautiful new homes in amenity-rich communities near major metropolitan areas, offering the perfect blend of location, affordability, and lifestyle.
The company’s mission is to provide both first-time and long-time homebuyers with quality homes at affordable prices. This is achieved through an efficient business model where LGI Homes procures and develops its own land, allowing for significant cost savings that are passed directly to customers. The communities are situated close to urban centers, providing residents with the benefits of city life while enjoying the open space and lower costs of suburban living.
LGI Homes offers a variety of products including entry-level homes, move-up homes, and luxury series homes under the LGI Homes and Terrata Homes brands. Each community features a set number of floor plans with appealing upgrades such as granite countertops, modern appliances, and ceramic tile flooring. The company's operations are divided into seven segments: Central, Midwest, Southeast, Mid-Atlantic, Northwest, West, and Florida, with the majority of revenue generated from the Central division.
Recent achievements include robust balance sheet highlights, significant home sales revenue, increased average sales prices per home closed (ASP), and notable average monthly absorption rates. LGI Homes continues to expand its footprint with a substantial backlog of owned and controlled lots, ensuring a steady pipeline of new homes to meet market demand.
As a publicly traded company, LGI Homes is committed to transparency and providing shareholders with the latest updates on financial performance, community counts, and closing metrics by reportable segment. For more detailed information and the latest news, visit here.
LGI Homes (NASDAQ: LGIH) has introduced a new line of five floor plans in Oklahoma City, with prices starting from the $220s. These homes, ranging from 1,405 to 2,483 square feet, include three to five bedrooms and two to three bathrooms, featuring well-designed interiors and various upgrades. A one-day-only sales event is scheduled for October 23 at Crimson Lake Estates, followed by another event on October 30 at Wyndemere community. The launch emphasizes LGI Homes' commitment to offering quality homes in family-friendly areas while providing exclusive discounts during the events.
LGI Homes has launched its latest community, Hamlets of Tavares, in Orlando, featuring upgraded two-story townhomes priced from the mid-$200s. Each home offers 1,500 to 1,817 square feet of space, with 2-3 bedrooms and 2.5 bathrooms. Residents will enjoy community amenities such as a children's play structure and dog park. The homes come with the CompleteHome™ package, including modern upgrades like stainless steel appliances and granite countertops. LGI Homes has a 18-year legacy of profitability and has closed over 50,000 homes across 35 markets.
LGI Homes has launched a $9 million amenity center, Club Liberty, at its Summit at Liberty community, catering to residents aged 55 and above in Rio Vista, California. The 4.5-acre complex includes various recreational facilities such as a fitness center, pool, community garden, and an events barn designed for gatherings. New single-story homes in this community start in the high $400,000s and offer modern amenities. This expansion reinforces LGI Homes' commitment to enhancing community living while providing quality housing options.
LGI Homes, Inc. (NASDAQ: LGIH) reported closing of 793 homes in September 2021, a slight decrease from 811 homes in September 2020. However, the company achieved record quarterly closings of 2,499 homes in Q3 2021, reflecting a 19.5% increase from 2,091 in Q3 2020. The year-to-date closings reached 7,916, up 33.5% compared to 5,931 in the first nine months of 2020. As of September 30, 2021, LGI Homes operated 103 active selling communities. Financial results for Q3 will be announced on November 2, 2021, followed by a conference call at 12:30 p.m. ET.
LGI Homes has announced the launch of Southern Pines, a new community in Jacksonville, Florida. The development features five home designs ranging from 2,592 to over 3,300 square feet, offering modern upgrades and spacious layouts on one- to six-acre lots. Prices start in the $490s, with quick move-in options available. Residents will benefit from nearby amenities and excellent schools while enjoying a peaceful setting away from urban congestion. LGI Homes continues to pioneer innovative homebuilding, with over 50,000 homes closed in its 18-year history.
LGI Homes has announced the construction of 168 new homes at Vacek Country Meadows in Richmond, Texas, starting from the $240s. These move-in ready homes are located in a desirable area with easy access to major highways and local amenities. Each home features the CompleteHome™ package, offering modern design and energy efficiency. Homebuyers will enjoy spacious floor plans with up to five bedrooms and various recreational activities nearby. The development emphasizes value and quality in a competitive housing market.
LGI Homes reported strong performance for August 2021, closing 776 homes, a 16.0% increase from 669 homes closed in August 2020. For the year-to-date, the company recorded 7,123 home closings, marking a 39.1% rise compared to 5,120 home closings in the same period last year. As of the end of August 2021, LGI Homes operates 102 active selling communities. The company maintains a robust presence, being one of the fastest-growing residential builders in the U.S., with over 50,000 homes closed in 18 years.
LGI Homes (NASDAQ: LGIH) has announced the launch of two new communities, Shadowbend in Anna and Big Sky Estates in Denton County, as part of its expansion in the Dallas-Fort Worth area. These communities respond to the strong demand for homeownership in the region. Shadowbend features seven floor plans starting from the low-$300s, while Big Sky Estates offers five plans starting in the mid-$200s. Both developments will include various amenities and upgrades, including energy-efficient appliances and Fiber Internet access.
LGI Homes, Inc. (NASDAQ: LGIH) announced the resignation of Laura Miller from its Board of Directors, effective immediately. Ms. Miller cited the need to focus on her responsibilities as CIO at Macy’s and other commitments. She expressed pride in LGI's achievements and confidence in the company's growth trajectory. CEO Eric Lipar acknowledged Ms. Miller's contributions and noted her expertise in cybersecurity was pivotal in modernizing the company's IT systems. LGI Homes is currently seeking a new independent director to fill Ms. Miller's position.
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