Lennar Corporation Website

Lennar Corporation

NYSE-LEN

Company Overview

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties. It also offers residential mortgage financing, title insurance, and closing services for home buyers and others, as well as originates and sells securitization commercial mortgage loans. In addition, the company is involved in the fund investment activity. It primarily serves first-time, move-up, active adult, and luxury homebuyers. Lennar Corporation was founded in 1954 and is based in Miami, Florida.

  • Name

    Lennar Corporation

  • CEO

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  • Website

    www.lennar.com

  • Sector

    Household Durables

  • Year Founded

    1954

Company Statistics

Profile

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Margins

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Returns (5Yr Avg)

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Valuation (TTM)

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Valuation (NTM)

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Financial Health

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Growth (CAGR)

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Dividends

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Bulls Say

  • The US housing market is undersupplied. This supply/demand imbalance will take years to address and should support ongoing pricing power for homebuilders.

  • Demand for entry-level housing should increase as more members of the large millennial generation form households. Lennar is well positioned to capitalize on this growing market.

  • Lennar's shift to a more capital-efficient business model could drive valuation multiple expansion. Land-light homebuilder NVR enjoys a premium valuation because of its industry-leading ROIC.

Bears Say

  • Higher-for-longer interest rates, lofty home prices, and economic uncertainty could stifle demand for new homes.

  • Underemployment and onerous student debt obligations could limit the demand potential from younger generations.

  • Constrained land supply and elevated labor and material costs, especially if restrictive immigration policies are enacted, could limit Lennar's production and/or profitability on delivered homes.

Source: Morningstar Analysis - Oct 28, 2025

What's happening

Nov 13, 2025 - Dec 13, 2025

Lennar Corp Faces Headwinds Amid Downgrade and Market Concerns

  • JPMorgan downgraded Lennar Corp from neutral to underweight, citing challenges in the homebuilding sector.
  • The impending retirement of co-CEO Jonathan Jaffe raises concerns about leadership during market difficulties.
  • Despite minor gains, overall sentiment remains cautious due to economic headwinds affecting demand and borrowing costs.

Over the past month, Lennar Corp (LEN) experienced a decline of 3.8%, significantly underperforming relative to the S&P 500's minimal drop of only 0.2%. This downturn was influenced by several bearish developments that shaped LEN's performance trajectory. A pivotal moment occurred on December 4 when JPMorgan downgraded the company from neutral to underweight and lowered its price target from $118 to $115, highlighting anticipated challenges in the homebuilding sector for 2026. The downgrade emphasized concerns regarding weak demand, rising supply levels, and high valuations impacting affordability and inventory management.

Additional bearish sentiments emerged throughout November and early December as broader market concerns about housing demand overshadowed specific events like Lennar’s completion of an exchange offer for shares of Millrose Properties on December 1. Reports indicated that LEN's stock lagged behind competitors amid rising borrowing costs coupled with economic uncertainty stemming from Federal Reserve commentary suggesting potential interest rate cuts.

Despite some positive movements earlier in November—such as a brief uptick following favorable pending home sales data—the overall analyst consensus remained cautious with a Hold rating due to ongoing economic headwinds. Furthermore, co-CEO Jonathan Jaffe's upcoming retirement added another layer of concern regarding leadership stability during these challenging market conditions.

While there were moments reflecting optimism through strategic initiatives like capital management efforts involving Millrose shares or positive macroeconomic indicators such as increases in pending home sales in certain regions, these were insufficient to counteract prevailing bearish trends impacting LEN’s overall performance. Notably though, despite its struggles against broader market indices like the S&P 500 during this timeframe, Lennar Corp outperformed the Consumer Discretionary (XLY) sector by an impressive margin of 45.4%.

NYSE:LEN