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 reports news as a U.S. homebuilder with Class A and Class B common stock traded on the New York Stock Exchange. The company builds affordable, move-up and active adult homes primarily under the Lennar brand, and its updates commonly cover home orders, deliveries, backlog, margins, revenues and liquidity in homebuilding.
Recurring announcements also address quarterly dividends, share repurchases, earnings-call schedules, mortgage, title and closing services in Financial Services, multifamily rental development, commercial real estate mortgage origination through LMF Commercial, and technology and strategic investments through LENX.
LMC, a subsidiary of Lennar, has commenced preleasing at Triangle Square Apartments in Bucktown, Chicago. This seven-story midrise features 298 rental units and 21,223 sq. ft. of retail space, with move-ins starting in July 2021. Residents will enjoy a host of amenities including a 30,000 sq. ft. outdoor deck, a pool with skyline views, and proximity to public transport. This marks LMC's eighth development in the Chicagoland area, adding to its impressive pipeline of over 31,800 units valued at more than $12 billion.
ING Capital LLC has successfully closed a $33MM Green Incentive loan with LMC, a subsidiary of Lennar, aimed at enhancing sustainability in multifamily housing. This innovative loan tied to The Maddox in Katy, Texas, includes financial incentives for pursuing green certification. These incentives comprise interest margin reductions based on the commitment and achievement of green certification, along with a reimbursement for certification costs. This initiative aligns with ING's commitment to support sustainable practices and is a unique offering in the U.S. lending market.
Lennar Corporation (NYSE: LEN, 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 July 19, 2021 to shareholders on record as of July 2, 2021. With a focus on building affordable homes, Lennar offers a range of housing options and supports finance through its Financial Services segment. The company continues to be a leader in the homebuilding industry, enhancing its offerings through technology and strategic investments.
Lennar Corporation reported strong second quarter results for 2021, with net earnings of $831.4 million, or $2.65 per diluted share, reflecting a 61% increase year-over-year. Excluding non-operational gains/losses, earnings rose to $923.6 million, or $2.95 per share. New orders reached 17,157, a 32% increase, and backlog homes rose 38% to 24,741. The company achieved a gross margin of 26.1%, the highest in its history. With $2.6 billion in cash and no debt, Lennar's outlook remains positive for the rest of the year.
LMC, a subsidiary of Lennar, announces the topping out of Ovation, a luxury two-tower apartment community in Seattle, marking a key milestone in its construction. The 32-story development features 548 apartments and 6,000 square feet of retail space, along with a 9,000-square-foot public plaza. Ovation aims to enhance the First Hill neighborhood and is set to welcome residents in early 2022. With high Transit and Walk Scores, it’s ideally situated near major healthcare facilities, tech hubs, and entertainment options. The project has a $12 billion pipeline of multifamily communities.
Lennar Corporation (NYSE: LEN and LEN.B) announced the release of its second-quarter earnings results for the period ending May 31, 2021, scheduled for June 16, 2021, after market close. A conference call to discuss the earnings will occur on June 17, 2021, at 10:30 a.m. Eastern Time. Interested parties can listen live on the company's website, with an archived version available for 90 days post-event. Lennar continues to be a significant player in the homebuilding sector, offering affordable housing and financial services.
LMC, a subsidiary of Lennar (NYSE:LEN), has launched LMC Emblem Communities, focusing on developing suburban apartment housing nationwide. This initiative addresses the shortage of attainable Class A housing for middle-income residents. Since the inception of this program in July 2019, LMC has a pipeline of 20 communities, with the first one underway in suburban Atlanta. The Emblem approach emphasizes standardization to reduce costs and accelerate development timelines, ensuring access to quality housing for essential workers and middle-class professionals.
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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. The dividend will be payable on May 5, 2021, to shareholders of record as of the close of business on April 21, 2021. This announcement underscores Lennar's commitment to returning value to shareholders while continuing to build quality homes across the U.S. and engaging in various financial services.
Sunnova Energy International Inc. (NYSE: NOVA) has completed its acquisition of SunStreet Energy Group, the residential solar platform of Lennar Corporation (NYSE: LEN, LENB). This strategic move makes Sunnova the exclusive provider of residential solar and storage services for new homes nationwide. Lennar will support the partnership with tax equity investments. CEO William J. Berger expressed optimism about expanding customer growth and enhancing service offerings. The acquisition aims to boost stockholder value and advance Sunnova's mission of promoting energy independence.