Taylor Morrison Home Corp Stock Price, News & Analysis

The press release from Taylor Morrison (NYSE: TMHC) highlights home design trends for 2022, focusing on the evolving needs of homeowners. Key trends include:

• Mixing styles: Combining traditional and contemporary designs.
• Color collection: Collaboration with Sherwin-Williams features a palette emphasizing nature.
• Comfort and functionality: Demand for larger entry areas, bulk storage, and dedicated workspaces due to the pandemic.
• Technological integration: Enhancements via partnerships with appliance manufacturers to improve home automation.

Offerpad and Taylor Morrison Home Corporation have expanded their partnership to provide a seamless experience for new construction homebuyers in 14 markets, allowing them to sell their current home while purchasing a new one. Homeowners can benefit from a competitive cash offer within an hour, flexible closing dates, and extended stay options. Since launching in Phoenix, over 70 customers have successfully sold their homes through Offerpad. This initiative aims to simplify moving for homeowners and enhance customer satisfaction.

Taylor Morrison Home Corporation (NYSE: TMHC) has announced a renewal of its stock repurchase program, allowing for the repurchase of up to $250 million of Common Stock through June 30, 2024. This program replaces the previous $250 million authorization set to expire on December 31, 2022. Stock repurchases may occur in open market and private transactions, subject to factors such as market conditions and liquidity. The company's focus remains on a variety of investment opportunities while enhancing shareholder value through this buyback initiative.

Taylor Morrison Home Corporation (NYSE: TMHC) continues its community-focused approach with its annual holiday program, Build Joy. For the fifth year, the program has contributed over $130,000 to support local causes through team member-generated philanthropic ideas. This year, 15 initiatives received funding, including a spa day for ICU nurses and educational support for high school students. The initiative underscores the company's commitment to philanthropy and community engagement, celebrating National Build Joy Day on Dec. 2.

Taylor Morrison Home Corporation (NYSE: TMHC) has partnered with Värde Partners to establish a $1 billion land banking facility and joint venture. This collaboration aims to accelerate the acquisition and development of residential land across various states, including Texas, Georgia, Arizona, and California, with future projects anticipated in the Carolinas and Florida. The partnership is positioned to leverage Värde's expertise in real estate investment and Taylor Morrison's reputation in homebuilding, enhancing Taylor Morrison's capacity to secure land and manage projects efficiently.

Taylor Morrison Home Corporation (TMHC) announced the appointment of Christopher Yip to its board of directors following the departure of former U.S. Senator Jeff Flake. Yip, a partner at RET Ventures, brings extensive expertise in real estate technology, which aligns with Taylor Morrison's commitment to digitizing the homebuying experience. His leadership is expected to enhance the company's innovation initiatives. With Yip's addition, a majority of the board will be diverse, reinforcing Taylor Morrison's dedication to board diversity.

Taylor Morrison Home Corporation (TMHC) has appointed Lou Steffens as its new Chief Financial Officer effective January 1, 2022. Steffens, previously the President of Mergers and Acquisitions, brings over 30 years of industry experience, having led significant acquisitions that have increased the company's operational scale. He succeeds Dave Cone, who is retiring after nine years in the role. Chairwoman and CEO Sheryl Palmer expressed confidence in Steffens' ability to drive the company forward, emphasizing operational excellence in their strategic journey.

Taylor Morrison Home Corporation (NYSE: TMHC) reported a strong third quarter for 2021, with net income rising to $168 million ($1.34 per diluted share) from $115 million ($0.87 per share) in Q3 2020. Home closings gross margin improved by 400 basis points to 21.2%. Backlog surged 32% to 10,273 homes valued at $6.1 billion. Despite industry challenges causing delays, management forecasts home closings at approximately 14,000 for 2021 and anticipates gross margins above 22% in 2022. The company emphasizes capital efficiency, returning $92 million to shareholders via share repurchases.