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Landsea (LSEA) Expands Texas Footprint With 45 Manor Homesites
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Landsea Homes Corporation (LSEA - Free Report) expands its portfolio in Texas with the acquisition of 45 finished homesites in Manor. The buyout aims to provide homebuyers with more affordability. This move signifies LSEA's ongoing efforts to grow its presence and offer new homesites in Texas.
Manor, near the Austin metro area, is an affordable choice for young professionals. The Village at Manor Commons marks Landsea’s fourth community in the greater Austin area. It is located near major highways and prominent employers like Samsung, Dell and Tesla.
The community will feature 45 single-family homes with seven floorplans, offering three- to four-bedroom options. The homes, ranging from 1,400-2,400 square feet, include single and two-story designs. Model home construction is set to begin in Spring this year, with prices starting in the low-$300ks.
Acquisitions to Drive Growth
Landsea’s shares have surged 77.3% in the past three months compared with the Zacks Real Estate - Development industry’s 17% growth. Landsea focuses on expanding its market reach and footprint through strategic acquisitions. The company prioritizes affordable market segments with a differentiated high-performance home series and a landlight strategy for a quick return on inventory. Its consistent pursuit of acquisition targets aligns with this model and contributes to increased growth prospects.
Image Source: Zacks Investment Research
On Jan 09, 2024, the company entered a definitive agreement to acquire a Dallas-Fort Worth-based homebuilder, Antares Homes. The company believes that the market reach of Antares Homes will provide it with the perfect opportunity to achieve more size and scale in Texas.
On Oct 19, 2023, Landsea announced its expansion into the Colorado housing market by acquiring the assets and lot inventory of Richfield Homes. With this acquisition, Landsea entered its seventh homebuilding market, thus showcasing a notable presence in one of the best housing markets in the country.
Zacks Rank & Key Picks
Landsea currently flaunts a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Finance sector.
CNA Financial Corporation (CNA - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 9.2%, on average. Shares of CNA have increased 3.4% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CNA’s 2024 sales and earnings per share (EPS) suggests growth of 3% and 15.9%, respectively, from the year-ago period’s levels.
Equinix, Inc. (EQIX - Free Report) flaunts a Zacks Rank of #2 (Buy). EQIX delivered a trailing four-quarter earnings surprise of 6.2%, on average. The stock has rallied 11% in the past year.
The Zacks Consensus Estimate for EQIX’s 2024 sales and (EPS) indicates growth of 8.2% and 7.7%, respectively, from the previous year’s levels.
American Express Company (AXP - Free Report) carries a Zacks Rank of #2. It has a trailing four-quarter earnings surprise of 0.1%, on average. Shares of AXP have increased 18.3% in the past year.
The Zacks Consensus Estimate for AXP’s 2024 sales and EPS indicates an increase of 9.5% and 10.9%, respectively, from the year-ago period’s levels.
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Landsea (LSEA) Expands Texas Footprint With 45 Manor Homesites
Landsea Homes Corporation (LSEA - Free Report) expands its portfolio in Texas with the acquisition of 45 finished homesites in Manor. The buyout aims to provide homebuyers with more affordability. This move signifies LSEA's ongoing efforts to grow its presence and offer new homesites in Texas.
Manor, near the Austin metro area, is an affordable choice for young professionals. The Village at Manor Commons marks Landsea’s fourth community in the greater Austin area. It is located near major highways and prominent employers like Samsung, Dell and Tesla.
The community will feature 45 single-family homes with seven floorplans, offering three- to four-bedroom options. The homes, ranging from 1,400-2,400 square feet, include single and two-story designs. Model home construction is set to begin in Spring this year, with prices starting in the low-$300ks.
Acquisitions to Drive Growth
Landsea’s shares have surged 77.3% in the past three months compared with the Zacks Real Estate - Development industry’s 17% growth. Landsea focuses on expanding its market reach and footprint through strategic acquisitions. The company prioritizes affordable market segments with a differentiated high-performance home series and a landlight strategy for a quick return on inventory. Its consistent pursuit of acquisition targets aligns with this model and contributes to increased growth prospects.
Image Source: Zacks Investment Research
On Jan 09, 2024, the company entered a definitive agreement to acquire a Dallas-Fort Worth-based homebuilder, Antares Homes. The company believes that the market reach of Antares Homes will provide it with the perfect opportunity to achieve more size and scale in Texas.
On Oct 19, 2023, Landsea announced its expansion into the Colorado housing market by acquiring the assets and lot inventory of Richfield Homes. With this acquisition, Landsea entered its seventh homebuilding market, thus showcasing a notable presence in one of the best housing markets in the country.
Zacks Rank & Key Picks
Landsea currently flaunts a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Finance sector.
CNA Financial Corporation (CNA - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 9.2%, on average. Shares of CNA have increased 3.4% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CNA’s 2024 sales and earnings per share (EPS) suggests growth of 3% and 15.9%, respectively, from the year-ago period’s levels.
Equinix, Inc. (EQIX - Free Report) flaunts a Zacks Rank of #2 (Buy). EQIX delivered a trailing four-quarter earnings surprise of 6.2%, on average. The stock has rallied 11% in the past year.
The Zacks Consensus Estimate for EQIX’s 2024 sales and (EPS) indicates growth of 8.2% and 7.7%, respectively, from the previous year’s levels.
American Express Company (AXP - Free Report) carries a Zacks Rank of #2. It has a trailing four-quarter earnings surprise of 0.1%, on average. Shares of AXP have increased 18.3% in the past year.
The Zacks Consensus Estimate for AXP’s 2024 sales and EPS indicates an increase of 9.5% and 10.9%, respectively, from the year-ago period’s levels.