Lennar Corporation has completed an ambitious $5.5B spin-off of
Millrose Properties, transforming the firm into a pure-play manufacturer. This strategic hemispheric shift is thought to streamline Lennar's business focus and potentially improve its investment attractiveness. Most notably, the distribution ratio for the
spin-off has been revealed as a 2-for-1 share plan, with Lennar also maintaining its quarterly dividends. As a result, Greenhaven Associates have reportedly listed Lennar amongst their top stock picks.
Argus retains a 'Buy' rating for Lennar but has adjusted the price target to $170 from $215. Coupled with this news, it emerges that
Warren Buffett's Berkshire has increased investments in homebuilders. Furthermore, the corporation has expanded its assets portfolio through the acquisition of the
Rausch Coleman Development Group. They also attracted Sports Illustrated's attention after they named Lennar's Stillwater Golf Course in Florida as the most innovative course design for 2022. On a related development,
Sunnova Energy has reached an agreement to acquire
SunStreet, Lennar's residential solar platform.
Lennar Corporation Class A LEN News Analytics from Thu, 04 Apr 2013 07:00:00 GMT to Fri, 14 Feb 2025 04:12:00 GMT -
Rating 7
- Innovation 7
- Information 9
- Rumor -2
