Profile: Meritage Homes Corp (MTH.N)
Meritage Homes Corporation, incorporated on May 26 1988, operates as holding company. The Company through its subsidiaries is a designer and builder of single-family detached homes based on the number of home closings. The Company primarily builds in regions of the western and southern United States and offer a variety of homes that are designed to appeal to a range of homebuyers, including first-time, move-up, active adult and luxury. It has operations in three regions: West, Central and East, which consists of seven states: Arizona, California, Nevada, Texas, Colorado, Florida, and the Carolinas. Operations within the Carolinas include the Raleigh and Charlotte metropolitan areas, with some Charlotte communities located across the border into South Carolina. These three regions are its principal business segments. The Company’s homebuilding and marketing activities are conducted under the Meritage Homes brand, except for Arizona and Texas where it operates under the name Monterey Homes. As of December 31, 2012, it was selling homes in 158 communities. Effective September 4, 2013, Meritage Homes Corporation acquired Phillips Builders Inc from Beazer Homes USA Inc.
The Company’s homes range from entry level to luxury. The Company purchases a combination of finished lots and partially-developed or undeveloped lots. As of December 31, 2012, in addition to its approximately 17,500 owned lots, it also had approximately 3,300 committed lots under option or contract. It also participates in three mortgage and one title business joint ventures. The mortgage joint ventures are engaged in mortgage activities, and they provide services to both its customers and other homebuyers. The Company acts as a general contractor.
Meritage Homes Corp
SUITE 300, 8800 EAST RAINTREE DR
SCOTTSDALE AZ 85260