5 Best Housing Stocks To Buy According to Hedge Funds

2. Lennar Corporation (NYSE:LEN)

Number of Hedge Fund Holders: 65

Lennar Corporation (NYSE:LEN) is engaged in the acquisition, development, construction, and sale of different types of residential properties and land. It operates through various segments, including Homebuilding East, Homebuilding Central, and Homebuilding Texas, among others. At a stake value of $3.93 billion, 65 hedge funds held positions in Lennar Corporation (NYSE:LEN). As of December 31, 2023, Greenhaven Associates is the top shareholder in the company and has a position worth $1.3 billion.

On April 10, Lennar Corporation (NYSE:LEN) declared a quarterly dividend of $0.50, payable by May 8 to the shareholders of record on April 24. The stock has a dividend yield of 1.29%, as of May 2.

Baron Real Estate Fund stated the following regarding Lennar Corporation (NYSE:LEN) in its first quarter 2024 investor letter:

“Following exceptional performance in 2023, the share prices of our investments in homebuilder companies – Toll Brothers, Inc., Lennar Corporation (NYSE:LEN), and D.R. Horton, Inc. – continued to move higher in the first quarter of 2024, gaining 26.1%, 15.8%, and 8.5%, respectively, in part due to the continuation of strong quarterly business results and management optimism about each company’s multi-year prospects. Our recent meetings with CEOs Doug Yearley (Toll Brothers), Stuart Miller (Lennar), and Paul Romanowski (D.R. Horton), reinforced our view that each company is well positioned to generate strong long-term shareholder returns.

In January, we met with Lennar’s senior management team, including CEO Stuart Miller, at the company’s headquarters in Miami. We also had follow-up discussions with management over the course of the first quarter.

We are bullish on the long-term prospects for Lennar. We believe the company is exceptionally well run, favorably positioned to generate compelling long-term growth, and committed to unlocking shareholder value through several strategic initiatives…” (Click here to read the full text)