Toll Brothers, Inc. builds luxury homes and residential communities across U.S. markets. News about TOL commonly covers new community openings, model-home grand openings, final sales opportunities, and planned collections of single-family homes, townhomes, and condominiums in regional markets such as Florida, Georgia, California, Texas, and Connecticut.
The company’s recurring updates also describe home designs, community amenities, buyer categories, and related operations in architecture, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing. Earnings announcements and conference-call notices add periodic reporting on home sales, deliveries, contracts, backlog, margins, and other homebuilding operating measures.
Toll Brothers (NYSE:TOL) recently announced the upcoming launch of its luxury home community, Enclave at Baxley, in the Charlotte area. This exclusive community features 35 home sites with customizable floor plans offering 4 to 5 bedrooms and 3.5 to 5.5 bathrooms, priced from the mid-$900,000s. The sales center is set to open in October 2022. Located near downtown Charlotte, residents will have access to shopping, dining, and various recreational activities, with major highways providing convenient transportation options.
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Toll Brothers (NYSE:TOL) has announced its latest 55+ active-adult community, Regency at Babcock Ranch, featuring 495 new homes in Babcock Ranch, Florida. The community will include 154 attached villas and 338 single-family residences, with homes ranging from 1,528 to 2,808 square feet. Construction is underway, with the community expected to open in early spring 2023. This marks Toll Brothers' first active-adult community in Southwest Florida, offering luxury living and exclusive amenities for 55+ residents.
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Equity Residential (NYSE: EQR) and Toll Brothers (NYSE: TOL) have announced a partnership to develop three luxury rental communities in the Dallas/Ft. Worth area, totaling 1,053 units. This strategic collaboration is the first under a joint venture established in 2021, with EQR investing 75% and TOL 25% of equity per project. The total investment is projected at approximately $750 million in equity, potentially reaching $1.9 billion with financing. The developments are situated in prime neighborhoods and aim to capture the affluent renter market.
Toll Brothers, Inc. (NYSE: TOL) and Equity Residential (NYSE: EQR) plan to develop three new luxury rental communities in the Dallas-Fort Worth area, totaling 1,053 units. This marks the first joint venture from their strategic partnership formed in 2021. Equity Residential will invest 75% of the equity, while Toll Brothers will contribute 25%, targeting $750 million in initial co-investment. The projects include Settler (362 units), Remy (357 units), and Lyle (334 units), all featuring high-end amenities and strategic locations in vibrant neighborhoods.
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Toll Brothers Apartment Living appointed Nicole Conniff as Vice President of Marketing & Leasing, bringing over 25 years of experience. Previously, she scaled Tricon Residential's portfolio from 6,500 to 40,000 homes and managed marketing for over 55,000 units at the Irvine Company. Conniff aims to enhance brand visibility and leasing performance. Her leadership is expected to drive strategic goals and improve customer experiences, benefiting the firm's growth in the competitive rental market.
Toll Brothers, Inc. (NYSE:TOL) reported its third quarter results for FY 2022, showcasing a net income of $273.5 million or $2.35 per diluted share, a 16% increase from FY 2021. Pre-tax income rose to $366.0 million, while home sales revenues hit $2.3 billion, up 1%. However, signed contracts saw a significant decline of 44%, totaling $1.7 billion. Despite these challenges, the backlog value stood at $11.2 billion, up 19%. The company lowered its delivery guidance for the year amid rising mortgage rates and a softer demand environment, though it anticipates continued gross margin expansion.