Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Lennar $LEN is about to unleash a wave of new $ to invest in land/land development thru a spinoff of Millrose- a new land REIT. Millrose will bring greater sophistication/efficiency to capital markets related to homebuilder land & lot development From $LEN conference call: ⬇️
#2 US homebuilder Lennar on immigration: “Without politicizing this issue (of immigration)…,the new immigrant population will add to demand, while at the same time help to control production costs. This configuration is an overall positive for the new homebuilders…” $LEN
Broker commissions remain a hot topic on homebuilder earnings calls. Here’s what Lennar $LEN (the #2 builder in the country) had to say on the topic earlier today. https://t.co/4dbs1bNTNn
Lennar Corporation, the second-largest homebuilder in the United States, reported a 4.5% drop in its stock price despite beating Q3 profit estimates. The company's earnings were bolstered by higher home deliveries, but concerns over gross margin pressures and pricing softness impacted investor sentiment. Additionally, Lennar provided disappointing Q4 margin guidance, contributing to the stock's decline. Lennar is planning a spinoff of Millrose, a new land REIT, to enhance capital market efficiency related to homebuilder land and lot development.
