Lennar (LEN) Declares $0.38 Dividend

Lennar said on April 12, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.50 annualized). Previously, the company paid $0.38 per share.

Shares must be purchased before the ex-div date of April 25, 2023 to qualify for the dividend. Shareholders of record as of April 26, 2023 will receive the payment on May 10, 2023.

At the current share price of $103.84 / share, the stock's dividend yield is 1.44%. Looking back five years and taking a sample every week, the average dividend yield has been 0.93%, the lowest has been 0.26%, and the highest has been 2.14%. The standard deviation of yields is 0.57 (n=236).

The current dividend yield is 0.89 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 2.00%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1505 funds or institutions reporting positions in Lennar. This is an increase of 53 owner(s) or 3.65% in the last quarter. Average portfolio weight of all funds dedicated to LEN is 0.30%, an increase of 7.05%. Total shares owned by institutions decreased in the last three months by 0.84% to 288,005K shares. The put/call ratio of LEN is 1.39, indicating a bearish outlook.

Analyst Price Forecast Suggests 12.59% Upside

As of April 6, 2023, the average one-year price target for Lennar is $116.92. The forecasts range from a low of $85.85 to a high of $160.65. The average price target represents an increase of 12.59% from its latest reported closing price of $103.84.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Lennar is $29,336MM, a decrease of 13.61%. The projected annual non-GAAP EPS is $11.82.

What are Other Shareholders Doing?

FSMDX - Fidelity Mid Cap Index Fund holds 665K shares representing 0.23% ownership of the company. In it's prior filing, the firm reported owning 644K shares, representing an increase of 3.12%. The firm increased its portfolio allocation in LEN by 18.32% over the last quarter.

Tri-continental holds 94K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 101K shares, representing a decrease of 7.38%. The firm increased its portfolio allocation in LEN by 8.64% over the last quarter.

Fisher Asset Management holds 106K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 564K shares, representing a decrease of 432.58%. The firm decreased its portfolio allocation in LEN by 79.44% over the last quarter.

SDLAX - SIIT Dynamic Asset Allocation Fund - holds 12K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 12K shares, representing a decrease of 4.17%. The firm increased its portfolio allocation in LEN by 7.71% over the last quarter.

PRDAX - Diversified Real Asset Fund holds 16K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 11K shares, representing an increase of 32.19%. The firm increased its portfolio allocation in LEN by 85.84% over the last quarter.

Lennar Background Information
(This description is provided by the company.)

Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments.

This story originally appeared on Fintel.