5 Housing Stocks Redditors are Buying

1. Lennar Corporation (NYSE:LEN)

Number of Hedge Fund Holders: 52

Lennar Corporation (NYSE:LEN) is based in Miami, Florida, operating via the Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, and Multifamily segments.

On April 12, Lennar Corporation (NYSE:LEN) declared a quarterly dividend of $0.375 per share. The dividend is payable on May 10, to shareholders of the company as of April 26. Lennar Corporation (NYSE:LEN)’s dividend yield on April 22 stood at 1.95%. 

Lennar Corporation (NYSE:LEN) reported earnings for FQ1 2022 on March 16, posting an EPS of $2.70, beating market consensus by $0.12. Revenue for the quarter jumped 16.5% year-over-year to $6.20 billion, exceeding analysts’ forecasts by $14.85 million. 

Maintaining a “less constructive, more selective approach” on housing stocks amid the current Federal Reserve funds tightening cycle, JPMorgan analyst Michael Rehaut on April 13 maintained an Overweight rating on Lennar Corporation (NYSE:LEN) but slashed the firm’s price target on the stock to $89 from $108. 

According to Insider Monkey’s database, 52 hedge funds were bullish on Lennar Corporation (NYSE:LEN) at the end of December 2021, collectively owning stakes worth $2.18 billion. Edgar Wachenheim’s Greenhaven Associates held the leading position in the company, with more than 7 million shares valued at $835.8 million. 

You can also take a look at 10 Best ETFs to Invest In for Retirement and 10 Monthly Dividend Stocks to Buy in April. 

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