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 has announced a definitive agreement to acquire Rausch Coleman Homes, an Arkansas-based residential homebuilder. The acquisition targets Rausch Coleman's homebuilding operations, which expects to deliver about 5,000 homes with an average sales price of $230,000 in 2024. Aligned with Lennar's land light strategy, the company plans to assign the purchase and option of all Rausch Coleman's land assets to a third party. This move will expand Lennar's presence into Arkansas, Oklahoma, Alabama, Kansas and Missouri, while strengthening its existing operations in Texas, Oklahoma, Alabama and Florida. The deal is set to complete in Lennar's first quarter of 2025.
Quarterra Multifamily, a Lennar subsidiary, has begun leasing at Cordelia, a luxury high-rise community in Downtown Sarasota, Florida. The development features 240 luxury homes and 13,811 square feet of retail space. Located at 468 Quay Commons along Sarasota Bay, the property offers studio to three-bedroom apartments ranging from 558 to 1,480 square feet. Key amenities include a rooftop pool, sky terrace, fitness facilities, pet spa, co-working spaces, and a wine lounge. The development is strategically positioned near numerous dining establishments, shopping venues, and entertainment facilities, with excellent connectivity to regional employers.
Quarterra Multifamily, a Lennar subsidiary, has begun construction on Emblem Summerville, a 288-home garden-style community in Summerville, South Carolina. This attainably priced development, located 25 miles northwest of Charleston, is designed to address the housing needs of middle-income renters. It's Quarterra's second Emblem community in South Carolina and part of a nationwide effort to create more affordable housing options.
The community will offer one-, two-, and three-bedroom apartments ranging from 738 to 1,434 square feet. Amenities include a clubhouse, pool deck, outdoor grilling areas, pet park, and fitness center. The location provides easy access to local retail centers, dining spots, and major employers such as Boeing, Volvo, and Mercedes Benz/Daimler. Emblem Summerville utilizes Quarterra's programmatic approach, featuring consistent high-end finishes and amenity designs to expedite development and meet market demands efficiently.
Lennar (NYSE: LEN and LEN.B), a leading U.S. homebuilder, has announced a quarterly cash dividend of $0.50 per share for both its Class A and Class B common stock. The dividend is set to be paid on October 24, 2024, to shareholders of record as of the close of business on October 9, 2024. This decision was made by Lennar's Board of Directors, reflecting the company's commitment to providing returns to its shareholders.
Lennar (NYSE: LEN and LEN.B) reported strong third quarter 2024 results, with net earnings increasing 5% to $1.2 billion. Earnings per diluted share rose 10% to $4.26, or $3.90 excluding mark-to-market gains and one-time items. Key highlights include:
- New orders increased 5% to 20,587 homes
- Deliveries increased 16% to 21,516 homes
- Total revenues of $9.4 billion
- Homebuilding operating earnings of $1.5 billion
- Gross margin on home sales of 22.5%
- S,G&A expenses as a % of revenues from home sales of 6.7%
The company maintains a strong financial position with $4.0 billion in homebuilding cash and cash equivalents, and no outstanding borrowings under its $2.2 billion revolving credit facility. Lennar repurchased 3.4 million shares for $519 million during the quarter.
Quarterra Multifamily, a Lennar subsidiary, has begun leasing at The Piper, a luxury rental community in Redmond, Washington. Developed in partnership with QuadReal Property Group, The Piper offers 284 homes ranging from 475 sq ft studios to 1,400 sq ft three-bedroom units. The community features market-leading amenities and is located near the 640-acre Marymoor Park.
The Piper is part of three joint ventures between Quarterra and QuadReal in the region. It's situated close to the future Southeast Redmond Light Rail Station and major tech employers. As part of the MFTE/AARCH program, 10% of homes are offered at 50% area median income. This marks Quarterra's eleventh development in the Seattle Metro Area.
Quarterra Multifamily, a Lennar subsidiary, has announced the construction of Emblem Mill Road, a 324-home community in McDonough, Georgia. This attainably priced development aims to address the housing shortage for middle-income residents in the Atlanta Metro Area. The community will feature one- and two-bedroom homes ranging from 738 to 1,194 square feet, with modern amenities and high-end finishes.
Emblem Mill Road is strategically located near major retail, dining, and entertainment destinations, as well as key employers. The development utilizes Lennar's scalable construction capabilities to expedite delivery and reduce costs. This project marks Quarterra's fifth venture in the greater Atlanta market and third Emblem community in the area, showcasing the company's commitment to addressing the region's housing needs.
Lennar, a leading U.S. homebuilder, has been named to the Best Places to Work SoCal 2024 list by Best Companies Group for the third consecutive year. The recognition is based on comprehensive, anonymous surveys of Lennar Associates, evaluating factors such as corporate culture, training opportunities, compensation, and overall job satisfaction. Jeremy Parness, Lennar Regional President, attributed the honor to the company's service-oriented culture of integrity and focus on giving back.
The Best Companies Group's Executive Vice President, Jaime Raul Zepeda, highlighted that winners on this list have created exceptional work environments that attract, retain, and motivate top talent. A virtual event celebrating the 2024 Best Places to Work SoCal honorees is scheduled for September 30.
Lennar (NYSE: LEN and LEN.B), a leading U.S. homebuilder, has announced its third quarter earnings release and conference call schedule. The company will release its Q3 2024 earnings report on September 19, 2024, after market close. A conference call will follow on September 20, 2024, at 11:00 a.m. Eastern Time. Investors can access the live webcast through Lennar's website at investors.lennar.com. The call will be archived for 90 days for those unable to attend live.
Lennar, founded in 1954, builds affordable, move-up, and active adult homes. The company also offers mortgage financing, title services, and multifamily rental property development. Its LENX division focuses on technology, innovation, and strategic investments.
Quarterra Multifamily, a Lennar subsidiary, and Nuveen Real Estate have opened Emblem Cane Bay North, a 312-home garden-style apartment community in Summerville, S.C. This joint venture aims to address the shortage of attainable housing for middle-income renters. The community offers:
- Direct access to Cane Bay Plantation trails
- Proximity to schools, retail, dining, and employment hubs
- SmartRent-compatible homes with modern technology
- One-, two-, and three-bedroom apartments (738-1,434 sq ft)
- Amenities include a clubhouse, swimming pool, grilling stations, and dog park
- 520 surface parking spaces and 35 leasable garage spaces
The location provides easy access to major employers like Boeing, Volvo, and Walmart, as well as regional connectivity via nearby highways.
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