Items Tagged with 'Stuart Miller'


  • WSJ: Lennar in talks to sell Rialto Capital to StonePoint Capital

    The largest homebuilder in the U.S. is looking to offload noncore assets
    Lennar is in advanced talks to sell its real-estate lending arm Rialto Capital to StonePoint Capital. According to the Wall Street Journal, the largest homebuilder in the U.S. is trying to shed weight in the face of headwinds dragging on the housing market’s performance.
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  • Lennar names new CEO for first time in 21 years

    Stuart Miller promoted from CEO to executive chairman, Rick Beckwitt named CEO
    Lennar, which became the nation’s biggest homebuilder earlier this year when it bought fellow homebuilder CalAtlantic Group in a $9.3 billion deal, announced recently that it is making a series of executive changes. The changes, which consist of promoting several of the company’s leaders, mark the first significant shakeup of the company’s leadership in some time.
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  • Positive earnings build up Lennar, KB Home

    Both firms exceed analyst expectations
    "We believe that the recent slower pace of the recovery caused by an uptick in mortgage interest rates is a temporary effect, and we expect to see steady upward demand for housing as consumers adjust to both higher rates and pricing," said KB Home President and CEO Jeffrey Mezger.
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  • Home Builder Posts 28% Drop in Q1 Orders

    Lennar Corp. [stock LEN][/stock], a major U.S. home builder, reported this week a first-quarter net loss of $155.9 million -- or 98 cents per share -- for the quarter ended Feb. 28, 2009. A 38 percent decline in home orders and a 12 percent decrease in average sales price from the same quarter last year drove the company's narrowed home sales revenues -- down 45 percent from last year to $522.8 million.
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  • Mortgage Market Roundup, Sept. 25

    Lennar Sees Worst Loss in Over 50 Years: Lennar Homes yesterday reported a shocking $514 million loss for its third quarter, ended August 31. That's a loss of $3.25 per share, when analysts has expected losses equaling roughly 55 cents per share -- not surprisingly, the home builder said it's got some laying off to do.
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