Lennar (LEN.B) 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 $89.97 / share, the stock's dividend yield is 1.67%. Looking back five years and taking a sample every week, the average dividend yield has been 2.85%, the lowest has been 1.60%, and the highest has been 6.88%. The standard deviation of yields is 0.94 (n=237).
The current dividend yield is 1.26 standard deviations below 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 has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 422 funds or institutions reporting positions in Lennar. This is an increase of 16 owner(s) or 3.94% in the last quarter. Average portfolio weight of all funds dedicated to LEN.B is 0.18%, a decrease of 7.18%. Total shares owned by institutions increased in the last three months by 3.18% to 13,905K shares.
Analyst Price Forecast Suggests 10.21% Upside
As of April 6, 2023, the average one-year price target for Lennar is $99.16. The forecasts range from a low of $72.81 to a high of $136.25. The average price target represents an increase of 10.21% from its latest reported closing price of $89.97.
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?
LINCOLN VARIABLE INSURANCE PRODUCTS TRUST - LVIP Dimensional U.S. Core Equity 1 Fund Standard Class holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.
Humankind Benefit Corp - Humankind US Stock ETF holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing a decrease of 3.27%. The firm increased its portfolio allocation in LEN.B by 6.38% over the last quarter.
Los Angeles Capital Management holds 12K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 12K shares, representing an increase of 0.63%. The firm increased its portfolio allocation in LEN.B by 18.34% over the last quarter.
IWR - iShares Russell Mid-Cap ETF holds 43K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 46K shares, representing a decrease of 6.53%. The firm increased its portfolio allocation in LEN.B by 6.94% over the last quarter.
Highlander Capital Management holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.
Lennar Background Information
(This description is provided by the company.)
Lennar Corporation is a homebuilder and an originator of residential and commercial mortgage loans.
This story originally appeared on Fintel.