Toll Brothers Inc (TOL.N)
13 Jan 2017
U.S. luxury homes builder Toll Brothers Inc's revenue increased more than expected for the fifth straight quarter, boosted by higher home sales and average selling prices, and the company also gave an encouraging outlook.
* Toll brothers inc - wholly-owned TBI mortgage subsidiary announced it had finalized a new $210 million mortgage warehouse facility
* Toll Brothers announces entry into Boise, Idaho market with acquisition of Coleman Homes Source text for Eikon: Further company coverage:
* Toll Brothers Apartment Living / Ares joint venture secures $91 million construction loan to develop new luxury rental community in Greater Boston's Needham Market Source text for Eikon: Further company coverage: (Bangalore.firstname.lastname@example.org)
Lennar Corp , the No. 2 U.S. homebuilder, said it would buy fellow Florida-based homebuilder WCI Communities Inc for about $643 million, boosting its land bank in one of the fastest improving housing markets in the United States.
* WCI has 35 days to shop for a higher offer (Adds details, analyst quote; updates shares)
Lennar Corp , the second-largest U.S. homebuilder, cut its gross margin forecast for the fourth quarter due to rising land and labor costs, problems that could weigh on rivals such as PulteGroup Inc as well.
Toll Brothers Inc's home orders in the third quarter rose the most in two years, and the company joined other large U.S. homebuilders in posting big jumps in quarterly revenue, underscoring steady growth in the U.S. housing market.
* Homebuilder stocks boosted by strong new home sales data (Adds background, share movement)
Aug 23 U.S. luxury homebuilder Toll Brothers Inc reported a 23.5 percent rise in quarterly revenue, boosted by an increase in home sales and prices.