California-based homebuilder Ryland Group Inc. (RYL - Snapshot Report) has unveiled a premium community called The Reserve at Twin Creeks in Cedar Park, certified as one of the ten top places to raise a family by Family Circle magazine.
The community is spread over 760 acres and surrounded by golf courses. It consists of 76 single-family homes and 50 condominiums with easy access to retail and employment opportunities. Community amenities like first-class club accommodations, private clubhouse with upscale dining, tennis courts, a recreation center, a water park and two pools are added advantage of the homes in the community.
The homes have the advantage of flexible indoor and outdoor living, valet cabinets, built-in storage and luxury master suites. The homes in the community face the unique environment of Balcones Canyonlands Conservation Preserve in the neighborhood of the beautiful Texas Hill country. The residents also get a unique view of the Grand Canyon.
Ryland Group reported fiscal third-quarter (ended September 30) results on October 24. Non-GAAP earnings per share came in at 21 cents, surpassing the Zacks Consensus Estimate by 23.5%. Earnings grew significantly from a loss of 9 cents in the prior-year quarter.
Moreover, the homebuilding and mortgage-finance company delivered positive earnings surprises in 2 of the last 3 quarters. The long-term expected earnings growth rate for this stock is 10.0%.
The recovery in the housing market, along with strong fiscal third-quarter 2012 results, have resulted in the rise in earnings estimates for the company.
The Ryland Group believes in acquisitions to drive growth. The company recently acquired the Phoenix, Arizona operations and assets of Trend Homes. Previously, the company had acquired the assets of Timberstone Homes in Charlotte and Raleigh in July 2012.
Currently, Ryland Group carries a Zacks Rank #2 (Buy). Two other investable stocks are Meritage Homes (MTH - Snapshot Report), MDC Holdings (MDC - Snapshot Report) or NVR Inc. (NVR - Snapshot Report) that offer exposure to more attractive housing segments and carry a Zacks Rank #1 ( Strong Buy).