Lennar Corporation Stock Price, News & Analysis

LMC, a subsidiary of Lennar Corporation (NYSE: LEN), has opened The Remy, a luxury apartment community in Plantation, Florida. This mid-rise, lakeside development features 271 apartment homes with upscale amenities and modern finishes. Conveniently located near shopping, dining, and recreational parks, residents enjoy access to outdoor activities and proximity to Fort Lauderdale's beaches. The community offers various apartment sizes, including one-, two-, and three-bedroom options with luxury features. As of November 2021, LMC's development pipeline includes 42,000 homes valued at over $16.4 billion.

Lennar Corporation (NYSE: LEN, LEN.B) announced a quarterly cash dividend of $0.375 per share for both Class A and Class B common stock. The dividend is payable on May 10, 2022 to shareholders who are on record as of the close of business on April 26, 2022. This declaration reflects Lennar's commitment to returning value to shareholders and maintaining strong financial health in the housing market.

LMC, a subsidiary of Lennar (NYSE:LEN, LEN.B), announced that eight of its communities have received Energy Star certifications for their energy efficiency. Notably, three communities achieved perfect EPA scores of 100, highlighting their superior performance. Energy Star certified buildings, on average, utilize 35% less energy and emit 35% less greenhouse gases than non-certified buildings, while also costing up to 50 cents less per square foot to operate. This achievement underscores LMC's commitment to sustainability and green initiatives.

Lennar Corporation (NYSE: LEN, LEN.B) reported Q1 2022 net earnings of $503.6 million ($1.69 per share), down from $1 billion in Q1 2021. Excluding mark-to-market losses, earnings rose to $800.2 million ($2.70 per share), up from $642.7 million in the prior year. Revenues increased by 16% to $6.2 billion, driven by higher home deliveries and average sales prices. Homebuilding gross margins improved to 26.9%. The company repurchased 5.3 million shares for $526.3 million and has a $2 billion stock repurchase authorization. Guidance for FY 2022 deliveries is raised to 68,000 homes.

Lennar Corporation (NYSE: LEN and LEN.B) will release its first quarter earnings for the period ending February 28, 2022, after market close on March 16, 2022. A conference call is scheduled for March 17, 2022, at 11:00 a.m. Eastern Time, which will be accessible via the Company's website. Lennar is recognized as a leading homebuilder and provides a range of services including mortgage financing through its Financial Services segment. Founded in 1954, Lennar is focused on building affordable homes for diverse generations.

CPP Investments and LMC have formed a joint venture to develop multifamily communities across major U.S. markets, launching with five seed assets totaling 1,371 apartment homes. The venture allocates $979 million in equity, with CPP Investments holding a 96% stake. This initiative targets high-demand areas where housing supply lags behind renter demand, aiming for long-term returns. LMC, a key player in apartment development, has a significant portfolio and experience, enhancing the JV's potential for success in meeting strong housing needs.

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.

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.