Welcome to our dedicated page for Lennar news (Ticker: LEN), a resource for investors and traders seeking the latest updates and insights on Lennar stock.
Lennar Corporation (NYSE: LEN, LEN.B) is one of the nation’s largest homebuilders, with operations that span homebuilding, financial services, multifamily rental development and housing-related technology investments. The Lennar news feed on this page aggregates company announcements, earnings releases, transaction updates and other material disclosures that shape how investors and observers understand the business.
Readers can follow homebuilding and market updates as Lennar reports quarterly and annual results, including new orders, home deliveries, revenues from home sales, margins and segment operating earnings. These earnings releases, which are also furnished to the SEC on Form 8-K, often include management commentary on housing demand, affordability, incentives and construction activity across Lennar’s communities.
The news stream also covers corporate actions and capital markets events, such as the spin-off of Millrose Properties, Inc. and Lennar’s exchange offer to swap Millrose shares for Lennar Class A common stock. Announcements related to the timing, extension, preliminary results and final results of the exchange offer provide insight into how Lennar manages its investment portfolio and share count.
Leadership and governance developments are another key theme in Lennar news. Press releases and corresponding Form 8-K filings describe retirements and appointments of senior executives, changes in board composition and consulting arrangements with former officers, giving context on succession planning and organizational structure.
In addition, Lennar news highlights strategic partnerships and multifamily initiatives, including the recapitalization of Quarterra with TPG Real Estate. These items describe how Lennar participates in the multifamily rental market and supports platforms focused on attainable, high-quality rental housing.
By reviewing the news items on this page, users can see how Lennar communicates about its financial performance, housing activity, leadership changes and strategic transactions over time.
Lennar and ICON are set to revolutionize homebuilding with the launch of a 100-home community of 3D-printed homes in Georgetown, Texas. Construction is already underway, and reservations will begin in 2023. This innovative project blends advanced robotics, software, and sustainable design, with homes priced from the mid-$400,000s. Co-designed by BIG-Bjarke Ingels Group, the homes feature energy efficiency, architectural appeal, and robust technology integration. This partnership aims to address the ongoing housing shortage through cutting-edge construction methods.
Lennar Corporation (NYSE: LEN and LEN.B) announced a quarterly cash dividend of $0.375 per share for both Class A and Class B common stock. This dividend is payable on October 27, 2022, to shareholders recorded by the close of business on October 13, 2022. Founded in 1954, Lennar is a leading builder of homes for all generations and offers a range of services including mortgage financing and multifamily rental properties.
Lennar Corporation reported a strong third quarter for 2022, with net earnings rising 11% to $1.47 billion, or $5.03 per diluted share. Excluding mark-to-market gains, earnings surged 48% to $1.51 billion, or $5.18 per share. Home deliveries increased 13% to 17,248, while new orders fell 12%. The backlog of homes remained stable at 25,734, with an 8% rise in backlog value to $12.9 billion. Total revenues jumped 29% to $8.9 billion, driven by a gross margin improvement to 29.2%. The company successfully retired $575 million in debt and ended the quarter with $1.3 billion in cash.
Quarterra Multifamily, a subsidiary of Lennar Corporation (NYSE: LEN, LEN.B), has announced the promotions of Chris Cassidy, Scott Johnson, and Brad Reisinger to regional presidents overseeing newly established regions: East, Central, and West, respectively. Cassidy will manage 18,226 homes in the East, Johnson will oversee 13,947 homes in the Central region, and Reisinger will lead 15,880 homes in the West. The company operates a diverse portfolio with a $19.8 billion pipeline, consisting of 48,000 homes in various stages of development.
Quarterra, a subsidiary of Lennar Corporation (LEN, LEN.B), has opened Spectra, a luxury mixed-use community in Redmond, WA, featuring 450 apartment homes and 37,259 square feet of retail space. This development, in partnership with QuadReal Property Group, marks the first residential project in the rezoned Marymoor Village area. Move-ins begin in September 2022, with a range of amenities including a pool, fitness center, and co-working space. The project enhances connectivity to major employers and attractions, aiming to offer modern urban living with suburban benefits.
Lennar Corporation (NYSE: LEN and LEN.B) will release its third-quarter earnings on September 21, 2022, after market close. The earnings report will cover the period ending August 31, 2022. A subsequent conference call is scheduled for September 22, 2022, at 11:00 a.m. ET, which will be available for live listening on Lennar's investor website. For those unable to attend, a recording will be archived for 90 days. Established in 1954, Lennar is a leading homebuilder focused on providing quality homes.
LMC, a subsidiary of Lennar Corporation (NYSE: LEN), has commenced leasing for the Residences Kierland, a mid-rise community in Scottsdale, Arizona. This development features 290 apartment homes and townhomes, designed for luxury living with amenities like The Retreat Spa and a fitness center. Located near employment hubs and upscale shopping, the community offers easy access to major highways. Residences Kierland represents LMC's fifth project in the Phoenix area, enhancing its portfolio which includes a pipeline of 42,000 homes valued over $16.4 billion.
Crow Holdings Development has announced the construction of The Offices at Southstone Yards, a 235,000-square-foot, seven-story office building in
LMC, a subsidiary of Lennar Corporation (NYSE: LEN), has announced the groundbreaking of Artemas, a new mid-rise apartment community in Everett, Massachusetts. The development will feature 396 apartment homes and 1,500 square feet of retail space, enhancing the area's vibrant lifestyle and connectivity. Scheduled to begin leasing in late fall 2024, Artemas will include a variety of amenities like a pool, fitness center, and indoor/outdoor workspaces. This project marks LMC's entry into the Boston market, alongside another community in Allston.
LMC has commenced leasing at its newest apartment community, The Emery, located in Emeryville, California. This development features 500 apartment homes across four mid-rise buildings, designed with an industrial-revival aesthetic. Positioned near waterfront parks and shopping, The Emery offers studio to three-bedroom units, with amenities like a resort-style pool, fitness center, and co-working spaces. As LMC's eighth Bay Area community, it enhances the rental landscape, building on a robust pipeline of $16.4 billion in multifamily projects.