5 Housing Stocks Redditors are Buying

In this article, we discuss 5 housing stocks Redditors are buying. If you want to see some more housing stocks on the radar of the Reddit community, click 10 Housing Stocks Redditors are Buying.

5. KB Home (NYSE:KBH)

Number of Hedge Fund Holders: 36

KB Home (NYSE:KBH) was founded in 1957 and is headquartered in Los Angeles, California. It operates as a homebuilding company, offering its services in Arizona, California, Colorado, Florida, Nevada, North Carolina, Texas, and Washington. KB Home (NYSE:KBH) also provides insurance and title services. 

On April 11, KB Home (NYSE:KBH) declared a quarterly dividend of $0.15 per share, in line with previous. The dividend is payable on May 19, to shareholders of the company as of the close of business on May 5. The company also plans to repurchase up to $300 million of its outstanding common shares, representing 11% of its market capitalization of $2.75 billion.

JPMorgan analyst Michael Rehaut on April 13 kept an Overweight rating on KB Home (NYSE:KBH) but lowered the firm’s price target on the shares to $39 from $49. The analyst maintains a “less constructive, more selective approach” to homebuilding stocks and does not expect any “material or sustained rebound” in this earnings season, mainly because he believes that the companies will not alleviate or address investor concerns. 

According to Insider Monkey’s fourth quarter database, 36 hedge funds were bullish on KB Home (NYSE:KBH), up from 26 funds in the preceding quarter. The total stakes held by elite funds in Q4 amounted to $431.5 million. Ken Fisher’s Fisher Asset Management held the biggest position in the company, with 2.4 million shares worth $109.3 million.