Meritage Homes Corp.: Buy While It Is Cheap
Meritage Homes: Mis-Priced Given Growth Prospects
Rising Rates? Not Slowing Down Meritage Homes
Jul. 10, 2014, 4:12 PM
- Legendary Communities operates along the I-85 corridor of the Southeast, with a significant presence in the Atlanta and Greenvile-Spartanburg markets, along with a position in Charlotte (where MTH already has a presence). Founded in 2009, Legendary builds homes mostly for first and second move-up buyers in the price range of $120K-$550K. The company closed about 500 homes with $156M of revenue last year, and controls about 4K home sites as of June 30.
- The purchase price is about $130M.
Sep. 4, 2013, 3:19 PM
- Meritage Homes (MTH -0.5%) acquires Nashville-based Phillips Builders for an undisclosed sum.
- This is MTH's fourth expansion market in two years.
- The deal gives MTH ~500 lots and its first presence in the area.
- "The acquisition of Phillips Builders provides MTH with a successful operation, respected management team and valuable asset position," CEO Steven Hilton says. (PR)
- More on MTH: SA contributor David Guarino says Meritage "is one of the better positioned builders to capitalize on the recovery."
Meritage Homes Corp. is a designer and builder of single family attached and detached homes, based on the number of home closings. It offers a variety of homes that are designed to appeal of homebuyers, including first-time, move-up, active adult and luxury. The company operates in three... More
Sector: Industrial Goods
Industry: Residential Construction
Country: United States
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