Landsea Homes Corp Stock Price, News & Analysis

Landsea Homes Corporation (Nasdaq: LSEA) announced that homes will be available for sale in North Central Phoenix, Arizona, starting July 17, 2021. The new Madison Square community features 40 single-family homes, with an additional 13 homes at the nearby 14th at Town & Country. Prices begin in the $690k's, with four floorplans ranging from 2,068 to 2,707 square feet. Homes include the REME HALO® air purification system for enhanced indoor air quality. An informative webinar will be held on July 10 for prospective buyers.

On June 28, 2021, Landsea Homes Corporation (Nasdaq: LSEA) announced the acquisition of 616 homesites at Citrus Park in Goodyear, Arizona, marking its largest homesite acquisition in the state. This includes a new collection of High Performance Homes with court-style and traditional designs, alongside over 45 acres of open space and a five-acre park featuring various amenities. Construction is set to commence in summer 2022, with sales starting in fall 2022. This move further solidifies Landsea's presence in the Arizona market.

Landsea Homes Corporation (Nasdaq: LSEA) has acquired 247 homesites at Bentridge in Buckeye, Arizona, aimed primarily at first-time homebuyers. The project will feature single-level and two-story homes, with 14 different floorplans, preserving over 30 acres of open space. Construction is expected to start in 2022, with sales beginning in fall 2022. This acquisition follows another purchase of 193 homesites at North Copper Canyon, solidifying Landsea's presence in Arizona's housing market.

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.