LGI Homes (NASDAQ:LGIH) Stock, Quote.Headers.trade-ideas

LGI Homes

LGI Homes Inc is engaged in the design, construction, and sale of new homes in markets. The company current product offerings include entry-level homes, including both detached homes and townhomes, and move-up homes sold, which are sold under LGI Homes brand, and luxury series homes, which are sold under the Terrata Homes brand. It offers a set number of floor plans in each community with features that include upgrades, such as granite countertops, appliances, and ceramic tile flooring. They have seven operating segments ( Central, Midwest, Southeast, Mid-Atlantic, Northwest, West and Florida divisions) that it aggregates into five qualifying reportable segment. Majority of the revenue is generated from Central division segment.

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LGI Homes Inc

JP Morgan analyst Michael Rehaut maintains LGI Homes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) with a Underweight and lowers the price target from $100 to $82.

JP Morgan Maintains Underweight on LGI Homes, Lowers Price Target to $82

Reported Earlier, LGI Homes Closed 531 Homes In November. As Of November 30, 2024, It Had 142 Active Selling Communities

WIIM

LGI Homes shares are trading higher after the company reported better-than-expected Q3 financial results.

LGI Homes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) reported quarterly earnings of $2.95 per share which beat the analyst consensus estimate of $2.54 by 16.14 percent. The company reported quarterly sales of $651.854 million which beat the analyst consensus estimate of $646.459 million by 0.83 percent. This is a 5.56 percent increase over sales of $617.539 million the same period last year.

Earnings

Earnings Beats

LGI Homes Q3 2024 GAAP EPS $2.95 Beats $2.54 Estimate, Sales $651.854M Beat $646.459M Estimate

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$225.00</td>
<td>$26.5K</td>
<td>48.5K</td>
<td>90.6K</td>
</tr>
<tr>
<td>BABA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$97.00</td>
<td>$152.0K</td>
<td>313</td>
<td>8.6K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$6.00</td>
<td>$89.1K</td>
<td>29.4K</td>
<td>2.3K</td>
</tr>
<tr>
<td>SIG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$110.00</td>
<td>$52.0K</td>
<td>1.4K</td>
<td>1.6K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$200.00</td>
<td>$119.9K</td>
<td>16.6K</td>
<td>1.4K</td>
</tr>
<tr>
<td>LGIH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$120.00</td>
<td>$70.0K</td>
<td>2</td>
<td>802</td>
</tr>
<tr>
<td>YUMC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$45.00</td>
<td>$69.8K</td>
<td>744</td>
<td>801</td>
</tr>
<tr>
<td>JD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$30.00</td>
<td>$226.3K</td>
<td>2.5K</td>
<td>700</td>
</tr>
<tr>
<td>YUM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$135.00</td>
<td>$73.0K</td>
<td>5.1K</td>
<td>644</td>
</tr>
<tr>
<td>ANF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/22/24</td>
<td>$180.00</td>
<td>$43.1K</td>
<td>0</td>
<td>644</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a call option sweep with bullish sentiment. It expires in 3 day(s) on October 18, 2024. Parties traded 124 contract(s) at a $225.00 strike. This particular call needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $214.0 per contract. There were 48591 open contracts at this strike prior to today, and today 90627 contract(s) were bought and sold. 
• For BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we notice a put option trade that happens to be bearish, expiring in 17 day(s) on November 1, 2024. This event was a transfer of 981 contract(s) at a $97.00 strike. The total cost received by the writing party (or parties) was $152.0K, with a price of $155.0 per contract. There were 313 open contracts at this strike prior to today, and today 8649 contract(s) were bought and sold. 
• For NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), we notice a call option sweep that happens to be bearish, expiring in 129 day(s) on February 21, 2025. This event was a transfer of 900 contract(s) at a $6.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $89.1K, with a price of $99.0 per contract. There were 29495 open contracts at this strike prior to today, and today 2351 contract(s) were bought and sold. 
• Regarding SIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>), we observe a call option sweep with neutral sentiment. It expires in 94 day(s) on January 17, 2025. Parties traded 100 contract(s) at a $110.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $52.0K, with a price of $520.0 per contract. There were 1474 open contracts at this strike prior to today, and today 1677 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a call option sweep with bullish sentiment. It expires in 157 day(s) on March 21, 2025. Parties traded 110 contract(s) at a $200.00 strike. This particular call needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $119.9K, with a price of $1090.0 per contract. There were 16630 open contracts at this strike prior to today, and today 1479 contract(s) were bought and sold. 
• For LGIH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>), we notice a call option sweep that happens to be bearish, expiring in 66 day(s) on December 20, 2024. This event was a transfer of 100 contract(s) at a $120.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $70.0K, with a price of $700.0 per contract. There were 2 open contracts at this strike prior to today, and today 802 contract(s) were bought and sold. 
• Regarding YUMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>), we observe a call option sweep with bullish sentiment. It expires in 94 day(s) on January 17, 2025. Parties traded 225 contract(s) at a $45.00 strike. This particular call needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $69.8K, with a price of $311.0 per contract. There were 744 open contracts at this strike prior to today, and today 801 contract(s) were bought and sold. 
• For JD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), we notice a call option sweep that happens to be bullish, expiring in 248 day(s) on June 20, 2025. This event was a transfer of 178 contract(s) at a $30.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $226.3K, with a price of $1273.0 per contract. There were 2592 open contracts at this strike prior to today, and today 700 contract(s) were bought and sold. 
• For YUM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), we notice a put option sweep that happens to be bullish, expiring in 3 day(s) on October 18, 2024. This event was a transfer of 469 contract(s) at a $135.00 strike. This particular put needed to be split into 85 different trades to become filled. The total cost received by the writing party (or parties) was $73.0K, with a price of $160.0 per contract. There were 5129 open contracts at this strike prior to today, and today 644 contract(s) were bought and sold. 
• Regarding ANF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>), we observe a put option trade with bearish sentiment. It expires in 38 day(s) on November 22, 2024. Parties traded 20 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $43.1K, with a price of $2159.0 per contract. There were 0 open contracts at this strike prior to today, and today 644 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AMZN

BABA

TSLA

YUMC

10 Consumer Discretionary Stocks Whale Activity In Today's Session

Wedbush analyst Jay McCanless reiterates LGI Homes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) with a Neutral and maintains $125 price target.

Reiteration

Wedbush Reiterates Neutral on LGI Homes, Maintains $125 Price Target

LGI Homes Says It Closed 579 Homes In September, Up 7.2% Y/Y, Resulting In Total Of 1,757 Homes Closed During Q3

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<h2 class="wp-block-heading">Camden Property Trust</h2>
RBC Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/595e3a7c988ca80001dc7da1/brad-heffern">analyst Brad Heffern</a> downgraded the ratings for Camden Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPT#NYSE">CPT</a>) from Outperform to Sector Perform, while keeping the price target at $122.
While Camden Property Trust reported stronger-than-expected July quarter results, these were largely driven by the peak leasing season rather than improving fundamentals, Heffern said in the downgrade note. He expects the company to miss its guidance for the back half of 2024.
This may be "another long fall/winter for the Sun Belt," the analyst wrote. "While tapering supply is in sight, the supply problem could be replaced by a demand problem if move-outs to buy a home return to normal levels as rates come down," he further stated.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
<h2 class="wp-block-heading">Invitation Homes</h2>
RBC Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5aabc09cb023000001cb8b57/bill-peterson">analyst Brad Heffern</a> downgraded the ratings for Invitation Homes Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INVH#NYSE">INVH</a>) from Outperform to Sector Perform, while lowering the price target from $37 to $36.
The leasing spreads for Invitation Homes in the third quarter "show further deceleration, and we think renewals show a higher level of tenant push back on rate increases," Heffern said. "For-sale housing could potentially become a headwind with mortgage rates moving lower.&#8221;
Given the high average resident income, tenants are more likely to afford a house, the analyst stated. "We continue to think 2025 consensus estimates are too high, especially with headwinds from INVH&#8217;s swaps rolling off," he further wrote.
<h2 class="wp-block-heading">LGI Homes</h2>
Wedbush <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5967569b988ca8000127b8db/jay-mccanless">analyst Jay McCanless</a> upgraded the ratings for LGI Homes Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) from underperform to Neutral, while raising the price target from $97 to $125.
LGI Homes generated sales absorption of 4.6 homes per month in August, the highest absorption pace since December 2023, McCanless said in the upgrade note. 
The company appears to be on track "to achieve our F3Q24 closing forecast of 1.8k homes assuming September&#8217;s sales absorption and community count are in line with August&#8217;s levels," he added.
The catalysts for the stock include the pullback in share price from Aug. 30 to Sept. 6, a potential for positive cash flow reversal and steady declines in mortgage rates so far in the third quarter, the analyst stated. 
"Cash flow trajectory should shift from a net outflow to a net inflow during F4Q24 and F1Q25," he further wrote.
Price action at the time of publication:
<ul>
<li>Camden Property Trust's shares were down by 0.29% to $121.84</li>
<li>Shares of Invitation Homes had declined by 1.17% to $35.54</li>
<li>LGI Homes' stock had jumped by 2.14% to $107.04</li>
</ul>
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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
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<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5bf40c1b211e20000180f340/surinder-thind">Jefferies analyst Surinder Thind</a> upgraded the rating for ExlService Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXLS#NASDAQ">EXLS</a>) from Hold to Buy, while increasing the price target from $35 to $42. ExlService shares fell 0.6% to close at $35.49 on Friday. <a href="https://www.benzinga.com/quote/EXLS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim analyst Vamil Divan upgraded the rating for Travere Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVTX#NASDAQ">TVTX</a>) from Neutral to Buy and announced a price target of $25. Travere Therapeutics shares gained 10.6% to close at $10.98 on Friday. <a href="https://www.benzinga.com/quote/TVTX/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5967569b988ca8000127b8db/jay-mccanless">Wedbush analyst Jay McCanless </a>upgraded LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) from Underperform to Neutral and raised the price target from $97 to $125. LGI Homes shares gained 0.8% to close at $104.80 on Friday. <a href="https://www.benzinga.com/quote/LGIH/analyst-ratings">See how other analysts view this stock.</a></li>
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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
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<li>HC Wainwright &amp; Co. boosted the price target for Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) from $16 to $30. HC Wainwright &amp; Co. analyst Mitchell Kapoor maintained a Buy rating. Summit Therapeutics shares fell 1.8% to close at $12.27 on Friday. <a href="https://www.benzinga.com/quote/MEI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan raised United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) price target from $40 to $42. JP Morgan analyst Bill Peterson upgraded the stock from Neutral to Overweight. United States Steel shares gained 4.3% to close at $31.27 on Friday. <a href="https://www.benzinga.com/quote/SMMT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) price target from $855 to $950. Morgan Stanley analyst Simeon Gutman maintained an Overweight rating. Costco shares fell 1.1% to close at $876.68 on Friday. <a href="https://www.benzinga.com/quote/COST/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wedbush boosted the price target for LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) from $97 to $125. Wedbush analyst Jay McCanless upgraded the stock from Underperform to Neutral. LGI Homes shares rose 0.8% to close at $104.80 on Friday. <a href="https://www.benzinga.com/quote/LGIH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BTIG increased Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) price target from $47 to $51. BTIG analyst Clark Lampen maintained a Buy rating. Roblox shares fell 0.2% to close at $43.64 on Friday. <a href="https://www.benzinga.com/quote/RBLX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities raised JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) price target from $3 to $6. B of A Securities analyst Andrew Didora upgraded the stock from Underperform to Neutral. JetBlue shares fell 1.7% to close at $5.30 on Friday. S<a href="https://www.benzinga.com/quote/JBLU/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Deutsche Bank increased the price target for Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) from $107 to $109. Deutsche Bank analyst Steve Powers downgraded the stock from Buy to Hold. Colgate-Palmolive shares fell 0.6% to close at $107.86 on Friday. See how other analysts view this stock.</li>
<li>JP Morgan boosted Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) price target from $170 to $174. JP Morgan analyst Bill Peterson upgraded the stock from Neutral to Overweight. Nucor shares fell 0.6% to close at $138.79 on Friday. <a href="https://www.benzinga.com/quote/NUE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BMO Capital boosted Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) price target from $100 to $110. BMO Capital analyst Andrew Strelzik maintained an Outperform rating. Starbucks shares fell 0.5% to close at $91.15 on Friday. <a href="https://www.benzinga.com/quote/SBUX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying SBUX stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="506" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09085953/image-70-1024x506.png" alt="" class="wp-image-537416" style="width:621px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09085953/image-70-1024x506.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09085953/image-70-300x148.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09085953/image-70-768x380.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09085953/image-70.png 1368w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Wedbush analyst Jay McCanless upgrades LGI Homes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) from Underperform to Neutral and raises the price target from $97 to $125.

Wedbush Upgrades LGI Homes to Neutral, Raises Price Target to $125

Reported Earlier, LGI Homes Closed 610 Homes In August 2024; As Of August 31, 2024, The Company Had 132 Active Selling Communities

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Shares of household durable companies are trading higher following strong New Home Sales economic data for July. Also, the sector may be moving in sympathy with the market after Fed Chair Powell offered an optimistic U.S. economic outlook and indicated future rate cuts.

The housing market is in flux, with home prices at record highs amid a demand and supply imbalance. Elevated mortgage rates – seen as a function of <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40365730/july-inflation-rate-falls-more-than-expected-supports-hopes-for-large-fed-rate-cu">interest rates at a 22-year high</a> and inflation, which is eating away into disposable income – are constraining purchases. In the wake of all this, NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) CEO John Ketchum recently lauded Florida as a thriving market for housing as well as commercial and industrial construction.
The Florida Housing Market: The Sunshine State has the distinction of being the biggest housing market in the country. Despite California having the twice as many residents, Florida has nearly double the number of home listings, <a href="https://www.realtor.com/news/trends/florida-housing-market-condos-home-prices-coast-inland/">said</a> Realtor.com in a recent report. It is a bellwether state &#8220;consistently attracting people from around the globe due to its significant tax advantages, perfect weather, and booming economy,&#8221;  Jenny Lenz, the managing director of Dolly Lenz Real Estate, told the website.
The report characterized the housing market in the state as split, with condominium prices on the coasts falling due to high insurance costs and assessment fees, while single-family home cost remained steady inland.
Recent data from Redfin showed that the median sale price of a home in Florida rose 2.3% year-over-year to $419,200, lower than the nationwide median price of $426,900. Although marking a decline from the April 2024 peak, home prices are still near the record levels, the real-estate company said. That said, the number of homes sold fell 14.1%, while inventory rose 16%.
While all roads led to Florida following the pandemic due to the state&#8217;s pulling points, things are changing now, a U.S. News report <a href="https://realestate.usnews.com/real-estate/articles/is-floridas-housing-market-in-trouble">said</a>. The deterrents are the expensive homeowner&#8217;s insurance due to hurricane threat in the state, higher home prices and the increase in property taxes.
See Also: <a href="https://www.benzinga.com/money/best-real-estate-stocks-right-now">Best Real Estate Stocks Right Now</a>
Commercial Real Estate &#8211; Risks &amp; Opportunities: After a tough year in 2023, the commercial real estate market nationwide is expected to bounce back this year as the Fed is widely expected to cut rates this year.
A report from the National Association of Realtors <a href="http://www.nar.realtor/sites/default/files/documents/2024-03-commercial-real-estate-market-insights-03-26-2024.pdf">noted</a> a troubled office sector, with falling lending activity and rising office availability and delinquencies. The office vacancy rate nationwide rose to a new record of 13.8% in February, it said. Leasing activity, a proxy for demand and interest, has dropped about 50 percentage points below pre-pandemic levels. Among other commercial real estate segments, multi-family was recovering from lows, retail spaces continued to slowdown and the industrial segment is showing signs of a slowdown.
NAR&#8217;s report flagged a sharp increase in rent for industrial spaces in Florida cities such as Orlando, Jacksonville and Tampa, with the spike attributed to strong demand for warehouse properties. The increases are in the magnitude of 10% from last year, it said.
That said, there is a looming risk. The low financing costs buyers are availing now could soon become a thing of the past, <a href="https://www.godfreylegal.com/what-2024-will-bring-for-commercial-real-estate-in-florida/#:~:text=2024%20will%20not%20be%20all,soon%20come%20to%20an%20end.">said</a> Godfrey Legal. It reasoned that many loans on commercial properties will mature later this year and in the upcoming year, with about $1.5 trillion in commercial real estate debt maturing. The terms of fresh loans or refinancing will likely be tougher, 
Corporates Make Beeline To Florida: Companies, especially big techs, which typically are based out of either the Silicon Valley or New York, are looking toward Florida, with many already having made the move. Ken Griffin's Citadel and Citadel Securities have permanently moved their headquarters to Miami. Amazon founder Jeff Bezos has shifted base out of Seattle to Florida, citing the need to be near his space venture Blue Origin.
Defense contractor Lockheed Martin has relocated its Space division headquarters to Titusville, Florida. JPMorgan has doubled down its presence in the state. <a href="https://www.benzinga.com/markets/equities/24/06/39457393/what-going-on-with-jp-morgan-shares-today">The big bank said in June that its downtown Miami office will double in size</a> from 80,000 square feet to 160,000 square feet in part to accommodate 400 additional employees. &#8220;Miami and South Florida are home to an increasing number of our clients, customers, community partners and employees, and a strategic location for our operations in Latin America as well,&#8221; said Jonathan Bello, head of Chase for Business Miami.
Florida is the fourth biggest state in terms of GDP, according to Bureau of Economic Analysis. The state also boasts of the highest population growth and it attracts remote workers due to the low cost of living, especially in northeast Florida, <a href="https://www.forbes.com/councils/forbesbusinesscouncil/2022/06/22/three-reasons-why-my-company-is-moving-to-florida/">said </a>Forbes contributor Gilda D&#8217;Incerti.
Potential Beneficiaries: With industry players and watchers betting on Florida&#8217;s housing and commercial real estate markets, real estate and utility companies operating in the state stand to gain big. Commercial real estate services and investment&nbsp;company, CBRE Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>), Jones Lang LaSalle Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JLL#NYSE">JLL</a>) and Cushman &amp; Wakefield plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWK#NYSE">CWK</a>), homebuilder Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) and M/I Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>), LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) and Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) have big presence in the state.
Among utility companies operating in Florida are NextEra and Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>).
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/real-estate/24/08/40431571/florida-and-texas-could-reap-huge-benefits-if-harris-wins-according-to-grant-cardone-they-protect-th">Florida And Texas Could Reap Huge Benefits If Harris Wins, According To Grant Cardone. &#8216;They Protect The Property Owner&#8217;</a></li>
</ul>

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NextEra CEO Talks Up Florida Property Market: A Sunshine State Ray Of Hope?

LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) today announced it closed 568 homes in July 2024. &nbsp;
As of July 31, 2024, the Company had 130 active selling communities.

LGI Homes Announces It Closed 568 Homes In July 2024; As Of July 31, 2024, The Company Had 130 Active Selling Communities

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Shares of household durable companies are trading lower amid overall market weakness on US economic concerns.

Seaport Global analyst Kenneth Zener downgrades LGI Homes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) from Neutral to Sell and announces $85 price target.

Seaport Global Downgrades LGI Homes to Sell, Announces $85 Price Target

LGI Homes (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgih#NASDAQ">LGIH</a>) came out with quarterly earnings of $2.48 per share, beating the Zacks Consensus Estimate of $2.24 per share. This compares to earnings of $2.25 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 10.71%. A quarter ago, it was expected that this entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets would post earnings of $1.02 per share when it actually produced earnings of $0.72, delivering a surprise of -29.41%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
LGI Homes, which belongs to the Zacks Real Estate - Development industry, posted revenues of $602.5 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.09%. This compares to year-ago revenues of $645.27 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
LGI Homes shares have lost about 21.2% since the beginning of the year versus the S&amp;P 500&#39;s gain of 14.5%.
What&#39;s Next for LGI Homes?
While LGI Homes has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for LGI Homes: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.78 on $743.84 million in revenues for the coming quarter and $8.82 on $2.61 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Real Estate - Development is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Landsea Homes (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lsea#NASDAQ">LSEA</a>), another stock in the same industry, has yet to report results for the quarter ended June 2024. The results are expected to be released on August 1.
This residential homebuilder is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of -3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Landsea Homes&#39; revenues are expected to be $336.2 million, up 14.7% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2311605/lgi-homes-lgih-tops-q2-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2311605">To read this article on Zacks.com click here.</a>

Small Cap

LGI Homes Tops Q2 Earnings Estimates

Baird Q3 2024 Small/Mid Cap Growth Equity Fund Commentary

LGI Homes prices $400M of unsecured senior notes due 2032

LGI Homes ( ($LGIH) ) has shared an update. LGI Homes, Inc. has announced a $400 million offering of 7.000% Senior Notes due 2032, aimed at institu...

LGI Homes Announces $400M Senior Notes Offering

LGI Homes (LGIH) "announced it closed 531 homes in November 2024, including the bulk sale of 103 single-family rental homes. As of November 30, 202...

LGI Homes closed 531 homes in November

LGI Homes reports November home closings of 531

Wedbush analyst Jay McCanless maintained a Hold rating on LGI Homes (LGIH – Research Report) today and set a price target of $125.00. The company's...

LGI Homes (LGIH) Gets a Hold from Wedbush

JPMorgan lowered the firm's price target on LGI Homes (LGIH) to $82 from $100 and keeps an Underweight rating on the shares. After maintaining a po...

LGI Homes price target lowered to $82 from $100 at JPMorgan

LGI Homes: Future Remains Positive

High-end spending stocks outperformed in 2024 vs. low-end: RL, RH, TPR, and others

LGI Homes (LGIH) announced the closing of the Company's 75,000th home. This significant achievement reflects the Company's unwavering commitment to...

LGI Homes announces milestone with 75,000th home closing

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Press Releases

LGI Homes Recognized as one of the World's Most Trustworthy Companies for the Second Consecutive Year by Newsweek

General

LGI Homes Reports September and Third Quarter 2024 Home Closings and Announces Date for Third Quarter Earnings Conference Call

LGI Homes Reports Third Quarter 2024 Results and Updates Full Year 2024 Guidance

LGI Homes, Inc. Reports October 2024 Home Closings

Financing

LGI Homes Announces Private Offering of $400 Million of Unsecured Senior Notes due 2032

LGI Homes Announces Pricing of $400 Million of Unsecured Senior Notes due 2032

LGI Homes, Inc. Reports November 2024 Home Closings

LGI Homes Opens New Community in Pennsylvania

LGI Homes Opens Raleigh-Area Community with New Plan Lineup

LGI Homes Celebrates Major Milestone with 75,000th Home Closing

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