Green Brick Partners Inc Stock Price, News & Analysis

Green Brick Partners (NASDAQ: GRBK) has acquired over 2,000 homesites in the Dallas-Fort Worth area to develop five new communities. This strategic acquisition aims to address the ongoing housing demand, particularly in Red Oak, Prosper, Celina, and Princeton, Texas. The new neighborhoods will include a mix of single-family and townhomes, catering to first-time buyers with value-oriented options. The company acknowledges rising land prices and limited supply as factors driving the average new home price in the area.

Green Brick Partners has successfully acquired approximately 2,400 homesites in Princeton, Texas, valued at around $640 million for the Eastridge community. This project, in collaboration with Meritage Homes, will include a blend of single-family homesites and amenities such as parks and trails. Anticipated presales will start in late 2022, addressing the growing demand for homes in the area. Homes by Trophy Signature will be priced from the mid $200,000s, while Meritage will offer options starting in the low $200,000s, emphasizing energy efficiency.

Green Brick Partners reported a robust third quarter, achieving a basic EPS of $0.69, a 122.6% increase year-over-year. Total revenues reached $275.8 million, an increase of 31.7%, while net new home orders surged 88.8% to 823 units. Strong demand in the DFW market fueled growth, with the backlog increasing 73% to $553.1 million. The company maintained a low debt-to-capital ratio of 25.3%, enhancing its financial position for future expansion.

Green Brick Partners has acquired approximately 214 acres in Waxahachie, Texas, for its new Dove Hollow community, set to develop over 600 single-family homes. Construction will commence in mid-2022, following the success of the nearby Buffalo Ridge community. Dove Hollow will feature various homes on 50’ - 80’ wide sites, emphasizing modern designs with standard upgrades. The community aims to meet the growing demand for larger homes near Dallas, with an anticipated interest in pre-sales.

Green Brick Partners (Nasdaq: GRBK) will announce its third quarter financial results for the period ending September 30, 2020, on October 29, 2020, after market close. CEO Jim Brickman will host a conference call on October 30, 2020, at 12:00 p.m. ET to discuss the earnings. Participants can join via a designated toll-free number, and a replay will be available from October 30 to November 13, 2020. Green Brick is involved in homebuilding and land development, owning several builders across Texas and other states.

Green Brick Partners has acquired nearly 900 acres in Fort Worth, Texas, for a joint development with Taylor Morrison, named Madero, which will feature over 2,500 value-oriented homes. Construction is anticipated to start in Q1 2021, with homes ranging from 1,500 to 3,500 square feet and prices beginning in the high $200s. Madero will include various amenities and is situated in a rapidly growing area with easy access to employment centers. The project aims to address the increasing demand for residential options in master-planned communities.

Green Brick Partners has partnered with Taylor Morrison to acquire nearly 900 acres in Fort Worth, Texas, for a new community named Madero, which will feature over 2,500 homes. Construction is set to commence in Q1 2021, offering various home sizes ranging from 1,400 to 3,500 square feet and starting in the high $200s. The community will include extensive amenities, located within a sought-after school district, and promise proximity to employment hubs. This move expands Green Brick's footprint in a rapidly growing area of the Dallas-Fort Worth region.