Landsea Homes Set to Join Russell 3000® Index
Landsea Homes Corporation (LSEA) will join the Russell 3000 Index after the annual reconstitution on June 28, 2021. This membership signifies inclusion in both the Russell 1000 and Russell 2000 indexes, enhancing Landsea's visibility among investors. CEO John Ho highlighted the company’s ongoing growth since its public debut, reinforced by strong financial results and market expansions, including entries into Florida and Texas. The Russell Indexes are utilized by institutional investors managing approximately $10.6 trillion in assets, which could further attract investment in Landsea Homes.
- Joining the Russell 3000 Index enhances visibility and credibility among investors.
- Strong financial results reported and an increased outlook for 2021.
- Successful market entry into Florida and Texas.
- None.
NEWPORT BEACH, Calif., June 15, 2021 (GLOBE NEWSWIRE) -- Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the “Company”), a publicly traded residential homebuilder, has announced that it is set to join the broad-market Russell 3000® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, 2021, according to a preliminary list of additions posted June 4, 2021.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, 2021, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“Joining the Russell 3000 Index marks an important milestone in our ongoing journey as a publicly-traded company,” said John Ho, CEO of Landsea Homes. “Since going public at the start of this year, we have continued our momentum reporting strong financial results, increasing our outlook for 2021 and completing a key acquisition to enter the Florida and Texas markets. As we continue to execute on our strategy, we look forward to leveraging the increased awareness that the Russell 3000 Index brings to further engage with the investment community and introduce our high-growth story to a broader audience.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Landsea Homes Corporation
Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Newport Beach, CA that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation’s most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County.
An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to “Live in Your Element.” Our homes allow people to live where they want to live, how they want to live – in a home created especially for them.
Driven by a pioneering commitment to sustainability, Landsea Homes’ High Performance Homes are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet.
Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees and stakeholders by creating an unparalleled lifestyle experience that is unmatched.
For more information on Landsea Homes, visit: www.landseahomes.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Investor Relations Contact:
Cody Slach or Cody Cree
Gateway Investor Relations
LSEA@gatewayir.com
(949) 574-3860
Media Contact:
Annie Noebel
Cornerstone Communications
anoebel@cornerstonecomms.com
(949) 449-2527
FAQ
When will Landsea Homes join the Russell 3000 Index?
What does joining the Russell 3000 Index mean for Landsea Homes (LSEA)?
How does Russell Index membership benefit Landsea Homes (LSEA)?
What recent developments has Landsea Homes reported?
