Landsea Homes Corporation - LSEA STOCK NEWS

Landsea Homes (NASDAQ: LSEA) announced new standard features for its High Performance Home program in 2025. The company introduced the Ecobee smart doorbell camera, which is compatible with Apple Home, Google, and Alexa, providing enhanced security and home monitoring capabilities. The installation will be handled by Best Buy's Geek Squad during smart home activation.

Additional standard features include WaterSense fixtures and energy-efficient windows, designed to reduce monthly utility costs and improve home comfort. These additions align with Landsea's decade-long commitment to sustainable building practices, focusing on reduced environmental impact and resource consumption.

Landsea Homes (NASDAQ: LSEA) has closed on 39 new homesites to expand its Hudson community in Placentia, Orange County, California. The new townhomes, ranging from 775 to 1,365 square feet, will be built at the intersection of Lakeview Loop and Veterans Way.

The gated community features row and back-to-back townhomes with a Dutch woonerf design concept, emphasizing pedestrian and cyclist-friendly spaces. All homes will include High Performance Home features with Apple Home™ smart automation technology, including Apple TV, wireless network, smart locks, thermostat control, and other smart home features activated by Best Buy's Geek Squad.

The development includes outdoor common areas with bench seating and BBQ grills. Located in Placentia, the community offers easy access to entertainment venues, dining options, and major highways 55, 57, and 91.

Landsea Homes has acquired 32 homesites in the Cherry Meadows master-planned community in Brighton, Colorado. The development will feature single-family homes ranging from 1,473 to 2,937 square feet with eight different floorplans. Construction is scheduled to begin in January 2025, with sales starting in Spring 2025.

The community is strategically located near Brighton Recreation Center and Park, downtown Brighton, and the historic Armory Performing Arts Center. All homes will include High Performance Home features with smart home automation technology using Apple Home™ environment, including features like Apple® HomePod mini™, wireless network, smart locks, and thermostat control.

Located 20 miles north of Denver, Brighton offers easy access to Boulder and Denver International Airport. The development expands Landsea Homes' presence in the high-demand Brighton market, where they are also selling homes at Parkway at Prairie Center Village.

Landsea Homes (Nasdaq: LSEA) announced the pricing of a public secondary offering of 6,086,957 shares of common stock by selling stockholders Landsea Holdings and Ever Fast Holdings The shares are priced at $10.25 per share, generating gross proceeds of approximately $62.4 million for the selling stockholders.

The selling stockholders have granted underwriters a 30-day option to purchase up to an additional 913,043 shares. B. Riley Securities is acting as sole bookrunning manager, with Wedbush Securities and Zions Capital Markets as co-managers. The offering is expected to close around December 9, 2024. Notably, Landsea Homes itself is not selling any shares in this offering.

Landsea Homes (LSEA) has announced a proposed secondary offering of 5,043,480 shares of common stock by selling stockholders. The underwriters will have a 30-day option to purchase up to an additional 756,520 shares. The company itself is not selling any shares in this offering.

B. Riley Securities is acting as the sole bookrunning manager, while Wedbush Securities and Zions Capital Markets are serving as co-managers. The offering will be made through a shelf registration statement on Form S-3 that has been filed and declared effective by the SEC.

Landsea Homes has signed a 14,725-square-foot long-term lease at Tower 1320 in Irving, Texas, for its Dallas-Fort Worth division headquarters. The space, expected to be ready in Spring 2025, will include a 3,000-square-foot in-house design studio and showroom. The location offers numerous amenities including a fitness room, café with Starbucks, game room, and conference facility. The building is strategically positioned near Las Colinas' 28-acre development with restaurant and retail space, and is accessible via highways and DART. The new headquarters will serve the growing division while providing convenient access to the company's communities and important employment bases.

Landsea Homes (NASDAQ: LSEA) has announced its participation in the 16th Annual Southwest IDEAS Investor Conference in Dallas, Texas. The company's presentation is scheduled for Thursday, November 21, 2024, at 11:30 AM local time (12:30 ET) at The Statler. The presentation will be accessible via webcast through both the conference website and Landsea's investor relations portal. A replay will remain available for 90 days after the event on the company's website.

Landsea Homes reported strong Q3 2024 results with net income up 29% to $11.1 million, or $0.30 per share. Home sales revenue increased 26.2% to $325.6 million, with new home deliveries up 40% to 629 homes. The company achieved a home sales gross margin of 17.1% and adjusted gross margin of 22.8%. Net new home orders increased 28.8% to 626 units. Total revenue rose 22% to $338.5 million, though average selling price decreased 10% to $518,000. The company maintains a strong liquidity position of $263.0 million and expects full-year 2024 deliveries between 2,890 to 3,000 homes.

Landsea Homes (Nasdaq: LSEA) is expanding its presence in Kyle, Texas with a new community called Parkton Square. The development will feature 210 new high-performance homes, including single-family homes and attached townhomes. Located less than two miles from another Landsea Homes community, Freedom at Anthem, Parkton Square offers a convenient alternative to living in Austin.

The single-family homes will range from 1,400 to 2,900 square feet with 3-5 bedrooms, while townhomes will be 1,492 to 1,590 square feet with 3 bedrooms. All homes will be equipped with Landsea Homes' High Performance Home features, including smart home automation technology and the REME HALO® air purifier. Construction on three model homes will begin in early 2025, with sales expected to start around the same time.

Kyle, known as the "Pie Capital of Texas," is one of the fastest-growing affordable suburbs in the country, with a 23.7% growth rate since 2020. The community will offer easy access to parks, downtown Kyle, and higher education opportunities.