Landsea Homes Corporation - LSEA STOCK NEWS

Landsea Homes Corporation (LSEA) will join the Russell 3000 Index after the annual reconstitution on June 28, 2021. This membership signifies inclusion in both the Russell 1000 and Russell 2000 indexes, enhancing Landsea's visibility among investors. CEO John Ho highlighted the company’s ongoing growth since its public debut, reinforced by strong financial results and market expansions, including entries into Florida and Texas. The Russell Indexes are utilized by institutional investors managing approximately $10.6 trillion in assets, which could further attract investment in Landsea Homes.

Landsea Homes Corporation (Nasdaq: LSEA) has announced the acquisition of 193 homesites at North Copper Canyon in Surprise, Arizona. With 627 homes sold since 2018, the demand for their homes in this submarket is high. These new sites will feature one- and two-story single-family homes with 14 different floor plans, accommodating up to five bedrooms and five-car garages. Sales are projected to start in spring 2022. The company also previously acquired 476 homes at Sunrise Ranch, with sales expected this summer.

Landsea Homes Corporation (Nasdaq: LSEA) announced the acquisition of 108 new homesites in the Eagle Crest community, Grant-Valkaria, Florida. This expansion follows their recent entry into the Florida market and aims to enhance homebuying options in Brevard County. The Eagle Crest development will feature single-family homes on large lots, with available floorplans offering up to four bedrooms. Construction is set to begin in December 2021, with sales expected to start later this year. Landsea continues its growth trajectory in Florida with this strategic move.

Landsea Homes Corporation (Nasdaq: LSEA) announced the acquisition of 182 homesites in Alameda Marina, California, part of a mixed-use redevelopment. This project will include two neighborhoods: Island View with 98 homes and Waterside with 84 homes, featuring various floor plans and waterfront views. Sales are set to start in summer 2022, with 15% of homes designated for affordable housing. The initiative aligns with the City of Alameda's plans to revitalize its Northern Waterfront to enhance the community and support sustainable living.

Landsea Homes reported a robust performance in Q1 2021, with total revenue increasing 18% to $160.4 million, driven by a 14% rise in home sales. The company closed the quarter with a backlog of 875 homes, reflecting a 39% year-over-year increase. The outlook for 2021 is optimistic, with projected revenues of $925 to $980 million and expected home deliveries of 1,930 to 2,030. However, net losses widened to $7.1 million, primarily due to accounting changes. Despite this, cash reserves increased 80% to $190.7 million.

Landsea Homes Corporation (Nasdaq: LSEA) has successfully acquired Vintage Estate Homes for $54.6 million in cash, expanding its footprint in Florida and Texas. This acquisition enhances Landsea's market presence, adding 1,815 lots and increasing its backlog by 405 homes. Vintage Estate Homes, with a revenue of $157.1 million in 2020, is recognized for its high-quality constructions and customer service. The deal signifies Landsea’s commitment to strategic growth in key markets, following a 294% increase in net new home orders in 2020.

Landsea Homes Corporation (Nasdaq: LSEA) will host a conference call on May 6, 2021, at 5:00 p.m. Eastern time to discuss its financial results for Q1 2021, ending March 31, 2021. The call will be preceded by a press release detailing the financial results. Participants are advised to call 5-10 minutes early to register. A replay of the call will be available post-event through May 13, 2021. Landsea Homes is known for its sustainable, innovative residential builds across desirable markets, enhancing lifestyles while focusing on environmental responsibility.

Landsea Homes Corporation (Nasdaq: LSEA) announced its agreement to acquire Vintage Estate Homes for $54.6 million in cash, marking its entry into the Florida and Texas housing markets. Vintage Estate Homes operates in high-growth areas including Orlando, Palm Bay, Melbourne, Austin, and San Antonio. The transaction is expected to close in early May 2021, pending customary conditions. This acquisition aligns with Landsea's strategic goals to expand in lucrative markets and provide high-quality homes, leveraging Vintage's strong reputation and customer-service focus.

Landsea Homes Corporation (NASDAQ: LSEA) announced plans to construct 65 new homes in a community named Nolin in Anaheim, CA, with development beginning this month and a grand opening expected in October 2021. The three-story townhomes will feature four floor plans ranging from 1,134 to 1,970 square feet, with amenities including a passive park and playground. Homes will incorporate smart home technology and air purification systems for healthier living. Landsea aims to provide modern living at accessible price points in a thriving area of Orange County.