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.
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.
On February 10, 2022, LMC, a subsidiary of Lennar, reported that three of its apartment communities were ranked in the 2021 Elite 1% ORA Power Rankings. The J Turner Research list rated 128,000 multifamily communities, with only 1,564 making the top 1%. The communities recognized include Palmera in Doral, Fla., The Morris in Nashville, Tenn., and The Emerson in Oak Park, Ill., all scoring 94, well above the average score of 65. LMC's president celebrated the achievement as recognition of their commitment to resident experience.
LMC, a subsidiary of Lennar, has opened the Emblem Grayson apartment community in Loganville, GA, featuring 344 rental units designed for middle-income renters. The garden-style community includes modern amenities and offers easy access to Atlanta and surrounding areas. The opening responds to the nationwide shortage of attainable housing, integrating contemporary living with community features. Residents can enjoy a variety of local recreational and dining options while living in a well-connected suburban environment.
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.
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.
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