Lennar Stock Price, News & Analysis

LMC, a subsidiary of Lennar, has launched leasing for Citizen, a new high-rise community in Denver's Golden Triangle, featuring 393 luxury apartments and townhomes. Positioned near cultural landmarks, Citizen offers amenities like a rooftop pool, fitness center, and expansive living spaces. Residents can choose from various floor plans, ranging from studio to two-bedroom units, with modern finishes and views of the Rocky Mountains. This development marks LMC's tenth community in the Denver area, following a pipeline of over 39,500 units valued at $14.5 billion.

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.

Lennar has announced a new residential community in Northern California, featuring 102 attached homes built using Veev's innovative panelized construction technology. This project follows Lennar's $200 million investment in Veev, aimed at streamlining homebuilding processes. Veev's technology allows for homes to be constructed up to four times faster than traditional methods. The collaboration reflects both companies' commitment to integrating advanced technology in home construction, enhancing the living experience for buyers.

LMC, a subsidiary of Lennar, has opened Camber, a new apartment community in Denver Gateway Center. This community features 240 garden-style homes and is strategically located between Downtown Denver and Denver International Airport. The area anticipates significant job growth, adding 13,400 new jobs in 2021. Camber offers modern amenities including a swimming pool, fitness center, and pet spa, with easy access to transportation options. This marks LMC's eighth development in Denver, further expanding its multifamily rental portfolio valued at over $14.5 billion.

Lennar Corporation's subsidiary, LMC, has initiated leasing at its new luxury apartment community, Bowen River Oaks, located in Houston's prestigious River Oaks District. This 25-story high-rise features 403 apartment homes, lending residents access to upscale dining and shopping. The apartments range from 561 to 2,259 square feet, equipped with modern amenities and smart technology. Bowen River Oaks includes a resort-style pool, fitness center, and business center, enhancing the luxury living experience. The community is strategically located near major employers and attractions, with a project pipeline valued at over $14.5 billion.

Lennar Corporation (NYSE: LEN, LEN.B) has announced an increase in its stock repurchase program by up to $1 billion in purchase price or 25 million shares of its Class A and Class B common stock. This authorization has no expiration date, reflecting the company's commitment to enhancing shareholder value. The repurchase program indicates confidence in the company's prospects, providing an opportunity for shareholders to benefit from enhanced earnings per share (EPS) through reduced share count.

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 October 28, 2021 to shareholders on record as of October 14, 2021. Founded in 1954, Lennar is a leading homebuilder in the U.S., offering affordable and quality homes across various segments. The company's financial services and multifamily development initiatives further support its growth in the housing market.