Lgi Homes Inc Stock Price, News & Analysis

LGI Homes (NASDAQ: LGIH) has announced the launch of two new communities, Shadowbend in Anna and Big Sky Estates in Denton County, as part of its expansion in the Dallas-Fort Worth area. These communities respond to the strong demand for homeownership in the region. Shadowbend features seven floor plans starting from the low-$300s, while Big Sky Estates offers five plans starting in the mid-$200s. Both developments will include various amenities and upgrades, including energy-efficient appliances and Fiber Internet access.

LGI Homes, Inc. (NASDAQ: LGIH) announced the resignation of Laura Miller from its Board of Directors, effective immediately. Ms. Miller cited the need to focus on her responsibilities as CIO at Macy’s and other commitments. She expressed pride in LGI's achievements and confidence in the company's growth trajectory. CEO Eric Lipar acknowledged Ms. Miller's contributions and noted her expertise in cybersecurity was pivotal in modernizing the company's IT systems. LGI Homes is currently seeking a new independent director to fill Ms. Miller's position.

LGI Homes (NASDAQ: LGIH) has launched Reunion Village in Orlando, featuring new homes priced from the $390s. The community boasts modern floor plans ranging from 1,500 to 2,268 square feet, with 3 to 5 bedrooms and luxury finishes included in the CompleteHome Plus™ package. Residents will enjoy resort amenities, including a fitness center, sports courts, and a large water park. Quick move-in options are available, facilitating easier home buying. For more information or tours, contact LGI Homes or visit their website.

LGI Homes reported substantial growth in home closings for July 2021, achieving 930 closings, a significant increase of 52.2% from 611 in July 2020. The company has closed a total of 6,347 homes in the first seven months of 2021, marking a 42.6% increase from 4,451 homes during the same period last year. As of July 31, 2021, LGI Homes operates 103 active selling communities.

LGI Homes reported significant financial growth for Q2 2021, with net income rising 112.4% to $118.1 million, translating to $4.71 diluted EPS. Home sales revenues increased 64.3% to $791.5 million, driven by a 15.4% rise in average sales price. Home closings also saw a 42.4% uptick, totaling 2,856 homes. Despite a 10.1% decline in net orders, the company raised its full-year guidance, anticipating 10,000-10,500 home closings and a higher expected average sales price of $285,000-$295,000.

LGI Homes has announced the opening of Riverstone, a new community in Lakeland, Florida, featuring single-family homes priced from the $290s. This master-planned community includes upgraded homes ranging from 1,401 to 1,984 square feet with 3 to 5 bedrooms and 2 to 3 bathrooms. Residents will enjoy amenities such as playgrounds, a resort-style pool, a clubhouse, and walking paths. Homes come with extensive included upgrades like energy-efficient appliances and granite countertops, making them appealing for potential buyers.

LGI Homes announces the launch of Spicewood Trails, a new community in Spicewood, Texas, featuring homes on one-acre lots. The community offers five innovative floor plans, ranging from 2,643 to 3,976 square feet, with prices starting in the mid-$700s. The designs incorporate modern amenities like stainless-steel KitchenAid appliances, quartz countertops, and spacious layouts. Spicewood Trails boasts family-friendly amenities including parks and trails, making it an attractive location for potential homeowners. More information is available by contacting LGI Homes.

LGI Homes (NASDAQ: LGIH) announced its return to the Dallas-Fort Worth market with the development of 145 new homes in the Lasater Ranch community in Crowley, Texas. Featuring five popular floor plans ranging from 1,552 to 2,865 sq. ft., each home includes modern upgrades like stainless steel appliances and granite countertops. Prices start in the high-$200s. The community is strategically located near major highways, providing easy access to employment and entertainment. This development aligns with LGI's growth strategy, having closed over 50,000 homes since 2018.

LGI Homes (NASDAQ: LGIH) announced the acquisition of Buffington Homebuilding Group for approximately $40 million in cash. This strategic move enhances LGI's land holdings in Central Texas, aligning with its goal to become a top five national homebuilder. The acquisition includes over 100 homes under construction and 350 finished lots, along with control of 150 more finished lots. LGI aims to introduce its luxury Terrata Homes brand in Austin, leveraging Buffington's established reputation in eco-friendly, smart homes.