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 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.
LGI Homes, Inc. (NASDAQ: LGIH) will present at the 14th Annual J.P. Morgan Homebuilding & Building Products Conference virtually on May 19, 2021, at 9:45 AM EDT. Investors can access the live webcast through the Investors section on the Company's website or directly via a provided link. LGI Homes, headquartered in The Woodlands, Texas, is one of the largest residential builders in the U.S., having closed over 45,000 homes in more than 18 years of operation. The Company ranks 10th in residential building based on units closed since 2018.
LGI Homes, Inc. has launched Shaw Creek Ranch, a new residential community in Ferris, Texas, with homes starting in the mid-$200s. This community features five popular floor plans, ranging from 1,379 to over 2,500 square feet, including three- and four-bedroom options. Residents will enjoy amenities like a community park, quick access to schools, shopping, and dining, and energy-efficient home features. The information center is open for tours by appointment, adhering to safety guidelines.
LGI Homes (NASDAQ: LGIH) has acquired KenRoe, Inc. for approximately $27 million. This acquisition includes 85 homes under construction, 130 finished lots, and control of 2,500 raw, undeveloped lots in the Minneapolis market. Eric Lipar, CEO of LGI Homes, emphasized the strategic importance of this purchase, highlighting its role in expanding operations and geographic presence. KenRoe's expertise in building entry-level homes complements LGI's portfolio, aiming for continued growth in a flourishing market.
LGI Homes (NASDAQ: LGIH) reported strong growth in home closings, achieving 948 homes in April 2021, a 56.7% increase from 605 homes in April 2020. The company also closed 3,509 homes in the first four months of 2021, marking a 43.8% rise compared to 2,440 homes in the same period last year. As of April 30, 2021, LGI Homes operated 105 active selling communities. Established in 2003, the company is ranked 10th among residential builders in the U.S. based on units closed.
LGI Homes reported a record-breaking first quarter for 2021, with net income soaring 132.6% to $99.7 million, or $3.99 per share. Home sales revenues rose 55.2% to $706 million, and home closings increased 39.6% to 2,561 homes. The company noted a significant increase in its backlog, reaching 5,632 homes valued at $1.6 billion, up 199.7% year-over-year. Gross margin improved to 26.9%, while adjusted gross margin increased to 28.5%. The firm is optimistic about future growth, raising its full year guidance for home closings and gross margin expectations.
LGI Homes (NASDAQ: LGIH) has announced the opening of its new community, Harrison Cove, in Hampstead, North Carolina. This community offers single-family homes ranging from 1,317 to 2,358 square feet, with prices starting in the $260s. Homes feature modern designs, open layouts, and the CompleteHome™ package, which includes energy-efficient appliances and high-quality finishes. Buyers can visit the information center by appointment, adhering to CDC guidelines. LGI Homes is recognized as one of the top residential builders in the U.S., with over 45,000 homes closed.
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LGI Homes announced two new residential communities in the greater Phoenix area: Mission Ranch in Casa Grande and Sunrise Estates in Florence. Mission Ranch offers three to five-bedroom homes starting in the high-$200s, featuring spacious backyards and various amenities. Sunrise Estates provides three to four-bedroom homes ranging from 1,154 to 2,173 square feet, starting in the low-$200s, with open layouts and modern features. Both communities include LGI’s CompleteHome™ package, enhancing home design and functionality.
LGI Homes (NASDAQ: LGIH) has announced the opening of Hidden Creek, a new residential community located in Frederick, north of Denver. The community features an array of amenities, offering homeowners mountain views and extensive outdoor trails. Homes range from 1,465 to 2,684 square feet, with three to five bedrooms and prices starting in the $430,000s. Frederick is recognized for its exceptional schools and vibrant community events, making it an appealing choice for homebuyers.