Welcome to our dedicated page for Lennar Corporation news (Ticker: LEN.B), a resource for investors and traders seeking the latest updates and insights on Lennar Corporation stock.
Lennar Corporation (NYSE: LEN.B) is a national leader in residential construction and mortgage services, serving homebuyers across market segments. This news hub provides stakeholders with direct access to official announcements and strategic developments.
Track key updates including quarterly earnings disclosures, community development projects like the environmentally conscious Dori community in Doral, and technology investments enhancing housing solutions. Our curated collection features press releases on acquisitions, partnership formations, and sustainability initiatives aligned with modern construction standards.
For consistent market awareness, bookmark this resource for verified updates about Lennar's homebuilding innovations and financial services. Regular visitors gain strategic insights into one of America's most active residential developers through primary source materials.
Lennar Corporation (NYSE:LEN, LEN.B) has established the Upward America Venture, with an equity commitment of $1.25 billion from Centerbridge, Allianz Real Estate, and other investors. This platform aims to acquire single-family homes for rent in high-growth U.S. markets, targeting a total of $4 billion in acquisitions. The initiative seeks to provide affordable housing options without down payments, enhancing social mobility. Lennar's CEO highlighted a strategic advantage in accessing over 300,000 homesites, anticipating strong performance in the single-family rental sector.
Lennar Corporation reported strong first-quarter results for 2021, achieving net earnings of $1.0 billion ($3.20 per diluted share), up over 150% year-over-year. Revenues increased 18% to $5.3 billion, driven by 12,314 home deliveries and 15,570 new orders. A significant $469.7 million pretax gain from a strategic investment positively impacted earnings. The homebuilding gross margin improved to 25.0%. The company ended with $2.4 billion in cash, no debt on its credit facility, and expects robust performance in the following quarters.
Lennar Corporation (NYSE: LEN and LEN.B) will announce its first-quarter earnings for the period ending February 28, 2021, after market close on March 16, 2021. A conference call to discuss these results will take place on March 17, 2021, at 11:00 a.m. Eastern Time, accessible via Lennar's website. Founded in 1954, Lennar is a leading builder of affordable homes for all generations, also providing mortgage and title services through its Financial Services segment. For more details, visit www.lennar.com.
SmartRent, a leader in smart home automation, announced a strategic investment from Lennar Corporation (NYSE: LEN, LEN.B) on March 4, 2021. This partnership highlights the effectiveness of Alloy SmartHome's Self-Guided Tour technology, enabling homebuyers to tour model homes independently. As part of the investment, Eric Feder, President of LENX, will join SmartRent's board. Lennar's backing reflects a broader industry trend towards modernizing real estate processes through tech innovation, with SmartRent offering smart solutions for property managers and builders.
Lennar Corporation (NYSE: LEN, LEN.B) and Ring have launched Lennar Communities Connected by Ring, a suite of smart home products integrated with the Ring app, enhancing the Connected Home experience. This initiative aims to set a new industry standard by providing security and convenience features like the Ring Alarm and Video Doorbell Pro along with various smart devices. The installation occurs during construction, allowing for a seamless transition for homeowners. This program is part of Lennar's Everything's Included initiative and reflects their commitment to innovation and technology in homebuilding.
Lennar Corporation (NYSE: LEN, LEN.B) announced a new stock repurchase program, authorizing the buyback of up to $1 billion worth of shares or 25 million shares. This program replaces the previous authorization from January 2019, during which 14 million shares were repurchased for $781 million. The new buyback has no expiration date, allowing management flexibility to repurchase shares as deemed appropriate. This move aims to enhance shareholder value and reflects the company's confidence in its future performance.
Lennar Corporation (NYSE: LEN and LEN.B) has declared a quarterly cash dividend of $0.25 per share for both Class A and Class B common stock. This dividend is payable on February 12, 2021 to shareholders on record by January 29, 2021. Founded in 1954, Lennar is a leading homebuilder in the U.S., specializing in affordable, move-up, and active adult homes. The company also provides mortgage financing and develops multifamily rental properties across the country.
Lennar Corporation reported strong fourth-quarter results for 2020, with net earnings of $882.8 million or $2.82 per diluted share, up significantly from $674.3 million or $2.13 per share in 2019. Total revenues for the quarter reached $6.8 billion, down 2%, while new orders increased 16% to 15,214 homes, valued at $6.3 billion. The backlog rose 21% to 18,821 homes at a dollar value of $7.8 billion. Financial services also showed strong performance, with $151.2 million in operating earnings, a significant increase from the prior year.
Lennar Corporation (NYSE: LEN and LEN.B) will release its earnings for Q4 and the year ending November 30, 2020 after market hours on December 16, 2020. A conference call is scheduled for December 17, 2020, at 11:00 a.m. ET, which will be accessible via www.lennar.com. Lennar is a leading national homebuilder, specializing in affordable and quality homes, with a strong presence in financial services and multifamily rental properties.
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