Is PulteGroup (PHM) One of the Best Real Estate Stocks to Buy Beyond REITs?

PulteGroup, Inc. (NYSE:PHM) is one of the 8 Best Real Estate Stocks to Buy Beyond REITs. On May 26, Oppenheimer reiterated its Outperform rating on PulteGroup with a price target of $149, citing the firm’s buyer mix as attractive, according to a report by Investing.com.

Based on 18 analyst ratings compiled by CNN, 50% assigned a Buy rating on PulteGroup’s stock while 39% marked it Hold. The stock has a median price target of $143.50, a 21.85% upside from the current price of $117.77.

For the first quarter of the year, PulteGroup registered a net income of $347 million, or $1.79 per share, lower than $523 million, or $2.57 per share in the same period a year ago. PulteGroup President and CEO Ryan Marshall said the first quarter results reflect the company’s efforts in navigating current market conditions as it works to meet buyer demand. He added:

“Within a demand environment impacted by domestic and global dynamics, we see a consumer with concerns about affordability and the economy, but still desirous of homeownership as demonstrated by the 3% growth in our first quarter net new orders. Given these dynamics, we continue to intelligently manage sales, incentives and production to best position the company for near- and long-term success.”

PulteGroup, Inc. (NYSE:PHM) is an Atlanta-based homebuilding company with operations in more than 45 markets throughout the country. The company has several brands, namely, Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods.

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