Lennar Corporation (LEN) News: Home Sites from Covington Capital, Luxury Apartment Project, Buy Rating & More

Lennar closes on more than 800 home sites in San Antonio area (San Antonio Business Journal)
Lennar Corporation (NYSE:LEN) San Antonio is continuing its campaign to significantly expand its presence in the greater San Antonio housing market, via some hefty land deals. The latest buy for the builder — the entire local land portfolio of Covington Capital. With the deal, Lennar now owns an additional 813 paper and finished homebuilder lots in San Antonio. “We look forward to offering even more options for those looking to live in Cibolo or the Far West Side,” says Lennar Corporation (NYSE:LEN) San Antonio Division President David Grove. “These communities offer many amenities that families can immediately enjoy upon move in, and are located in well-regarded school districts.”

Lennar Corporation (NYSE:LEN)

Tempe to Get Lennar Luxury Apartments (Zacks.com)
Lennar Multifamily, a real estate investment unit of Lennar Corporation (NYSE:LEN), in partnership with Resmark Apartment Living recently unveiled a luxury apartment project at Tempe Town Lake, Ariz. The apartment located south of the Tempe Center for the Arts on Rio Salado Parkway will have 328 units. The project accommodates five story buildings. The residents will have easy access to two swimming pools, seating areas, fitness center, club house and shopping, dining and entertainment centers such as the Mill Avenue District and Tempe Marketplace.

Lennar Earnings Preview: Waiting For Better Valuation (Seeking Alpha)
Lennar Corporation (NYSE:LEN), one of the premier homebuilders in the sector, reports its fiscal 2nd quarter, 2013 financial results before the bell on Tuesday, June 25, 2013. Analyst consensus is expecting $0.33 in earnings per share (EPS) on $1.33 billion in revenue, for expected year-over-year growth of 43% and 57%. The consensus EPS estimate has been stable since the last March ’13 earnings report, while revenue estimates have drifted higher. Last quarter, reported in late March, 2013, Lennar Corporation (NYSE:LEN) reported monster numbers (again) with revenues up 37%, EPS +225%, and orders rising 34%. From an analyst note out of Williams Financial, dated March 21, Southeast Florida was particularly strong, with backlog and orders rising 246% and 123% respectively.

Homebuilder Lennar expands into Nashville (South Florida Business Journal)
Lennar Corporation (NYSE:LEN) one of the nation’s leading homebuilders, has expanded into the Nashville market by acquiring control of approximately 40 homesites in the Tollgate Village community. Andy Pfeifer, a 12-year Nashville homebuilding veteran, is leading the effort for Lennar . “We have been evaluating the Nashville market for some time and believe this is a perfect time to enter this market,” said Rob Hutton, president of Lennar’s Central Region, in a news release.

Lennar Receives Buy Rating from TheStreet (LEN) (Watch List News)
TheStreet reaffirmed their buy rating on shares of Lennar Corporation (NYSE:LEN) in a report released on Thursday, AnalystRatingsNetwork.com reports. “Lennar Corporation (LEN) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, compelling growth in net income, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow.,” TheStreet’s analyst wrote.

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