Toll Brothers Stock Price, News & Analysis

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 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.

Toll Brothers has announced the opening of its luxury community, Twin Oaks, in San Ramon, California. This new development features single-family homes and townhomes for sale, with construction of model homes already in progress. Home prices start at $1,044,995, offering various design options and quick move-in availability. The community boasts proximity to luxury retail, parks, and top-rated schools, with easy access to major freeways. Toll Brothers emphasizes modern design and personalization for prospective buyers at its national award-winning design studio.

Toll Brothers (NYSE:TOL) has unveiled the grand opening of the Merle, Vireo, and Sora model homes at its Skylar by Toll Brothers community in Valencia, California. This luxury enclave features 85 single-family homes with expansive designs, modern architecture, and amenities like solar panels and EV chargers. Homes range from 3,700+ square feet, priced from $1.55 million. The development emphasizes sustainability, with plans for 2,000 EV charging stations. Toll Brothers aims to offer innovative living spaces in a sought-after area known for award-winning schools and shopping.

Toll Brothers, Inc. (NYSE: TOL) has partnered with Sculptor Real Estate to develop two luxury condominium projects in New York City: The Rockwell and 151 Bay Street. The Rockwell will feature 81 units on the Upper West Side, financed by a $98.2 million loan, while 151 Bay Street in Jersey City will consist of 259 units, supported by a $121.5 million loan. This joint venture aims to expand premium urban living in core markets, continuing the successful collaboration that began with The Sutton project.

Toll Brothers (NYSE:TOL) has announced the opening of 15 model homes at Regency at Folsom Ranch, a gated 55+ community in Folsom, California. The community features luxury home designs with prices starting in the upper $500,000s and includes access to premium amenities. An 18,000-square-foot clubhouse is under construction and expected to open in early 2023, offering pools, a spa, and fitness facilities. The community provides easy access to shopping and recreational activities, enhancing the active lifestyle for its residents.