Welcome to our dedicated page for Lgi Homes news (Ticker: LGIH), a resource for investors and traders seeking the latest updates and insights on Lgi Homes stock.
LGI Homes, Inc. reports recurring developments tied to its design, construction, and sale of new homes across U.S. markets. News commonly covers monthly home closings, active selling communities, quarterly financial results, margin guidance, backlog, pricing, inventory management, and the closing of currently or previously leased single-family rental homes.
Company updates also highlight new community openings and market expansions, including detached homes and townhomes offered with LGI Homes’ CompleteHome™ and CompleteHomePlus™ packages. Its announcements frequently describe community locations, floor plans, home features, amenities, and regional growth in markets such as Florida, Texas, Utah, Nevada, and the Seattle area.
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.
LGI Homes reported impressive growth in home closings for June 2021, achieving 997 closed homes, a 31.2% increase from June 2020. The company also set a new quarterly record with 2,856 closings in Q2 2021, reflecting a 42.4% year-over-year increase. Year-to-date, 5,417 homes have been closed, marking a 41.1% rise compared to the same period in 2020. As of June 30, 2021, LGI Homes operated 106 active selling communities. Financial results for Q2 2021 will be announced on August 3, 2021.
LGI Homes (NASDAQ: LGIH) has announced the grand opening of Cedar Hill Estates in Stanwood, Washington, featuring 78 new homes priced starting from the $500s. This community offers a mix of single-family homes and townhomes with floor plans ranging from 1,360 to 2,600 square feet. Cedar Hill Estates boasts proximity to major employers like Boeing and attractions such as Kayak Regional County Park. Each home includes modern amenities such as stainless steel appliances, granite countertops, and a private park for residents.
LGI Homes (NASDAQ: LGIH) has successfully closed its 50,000th home, marking a significant milestone since its inception in 2003. The company, operating in 35 markets across 19 states, specializes in affordable, quality homes. CEO Eric Lipar highlighted the commitment to customer satisfaction and operational efficiency as key to this growth. LGI’s innovations include the CompleteHome™ and CompleteHome Plus™ packages that offer premium upgrades. The company aims to become a top 5 homebuilder, driven by a focus on first-time buyers and energy-efficient features.
LGI Homes (NASDAQ: LGIH) has partnered with Modsy, an online interior design service, to enhance user experiences on LGIHomes.com. This collaboration introduces immersive 360° Looks, allowing potential buyers to virtually explore LGI's floor plans and visualize home designs. Rachel Eaton, LGI's CMO, emphasized the initiative's focus on delivering industry-leading experiences tailored to specific buyer demographics. Available in select markets, these virtual renderings aim to showcase LGI's spacious layouts and included upgrades, such as modern finishes and appliances.
LGI Homes announced the pricing of its $300 million unsecured Senior Notes due 2029. The notes will carry a 4.000% interest rate and are expected to close on June 28, 2021. Proceeds will be used to redeem all of the Company’s outstanding 6.875% Senior Notes due 2026, totaling $300 million, and may also reduce debt under its revolving credit facility or be invested in short-term liquid assets. This offering is targeted at institutional buyers and is not registered under the Securities Act.
LGI Homes has initiated a $300 million private offering of unsecured Senior Notes due 2029. These notes will be offered to qualified institutional buyers and certain non-U.S. persons. The company aims to use the net proceeds to retire its 6.875% Senior Notes due 2026, which total $300 million. Redemption of the 2026 notes is conditioned on the successful issuance of the new notes, and will occur at a price of 103.438% of their principal amount. The offering's pricing and terms will depend on market conditions.
LGI Homes reported strong growth in home closings for May 2021, closing 911 homes, a 42.3% increase from 640 homes in May 2020. Year-to-date, the company closed 4,420 homes in the first five months of 2021, reflecting a 43.5% increase compared to 3,080 homes in the same period last year. As of May 31, 2021, LGI Homes has 104 active selling communities.
LGI Homes has launched a new townhome community named Carthage Townes in Sanford, North Carolina. This development features two-story townhomes ranging from 1,075 to 1,521 sq. ft. with 2-3 bedrooms and 2.5 baths. Homes come with the CompleteHome™ package, which includes modern amenities such as stainless steel appliances and spacious designs. Prices start in the $180,000s, with quick move-in opportunities available. The community offers easy access to shopping, schools, and recreational activities, appealing to potential homebuyers.