Back to top

Analyst Blog

Toll Brothers Apartment Living, a subsidiary of Toll Brothers, Inc., (TOL - Analyst Report) and AECOM Capital, the investment fund of AECOM Technology Corporation (ACM - Analyst Report), recently unveiled a rental apartment tower in Jersey City, NJ. The new project is called Provost Square and is expected to be available for rent in early 2015.   

Provost Square includes 925 residential units, an art center, pedestrian plaza, in built parking facilities and ground floor retail space. It is located at a prominent site in the Powerhouse district of Jersey city.  Residents will have easy access to Grove Street PATH station, Jersey City’s Restaurant Row, other restaurants and shopping centers in the city.  

Toll Brothers Apartment Living will be responsible for the building’s marketing, leasing and property management, while AECOM’s wholly-owned subsidiary Tishman Construction Corporation and Toll Brothers City Living will see the construction.

The rising demand for new homes has led to a favorable situation in the housing market, where inventory levels are dropping and prices are moving up. The demand is particularly high for luxury homes. Therefore adequate product introduction is necessary in order to maintain the required level of inventory to meet the growing demand for homes.

Homebuilders like Toll Brothers with significant land positions, broad geographic and product diversity and better capital positions are expected to benefit the most as market conditions recover further. Toll Brothers expects to end fiscal 2013 with 225 to 255 selling communities, with many new communities in 2014.

Toll Brothers currently carries a Zacks Rank #3 (Hold).   

Other stocks in the homebuilding sector that are performing well and deserve a mention include D. R. Horton Inc. (DHI - Analyst Report), and Ryland Group Inc. (RYL - Snapshot Report), both carrying a Zacks Rank #1 (Strong Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
ERBA DIAGNO… ERB 3.00 +3.09%
SANCHEZ ENE… SN 34.18 +2.67%
PANTRY INC PTRY 21.02 +2.09%
INTEL CORP INTC 35.15 +1.88%
PIPER JAFFR… PJC 54.54 +1.70%