On Tuesday, Shares of D.R. Horton, Inc. (NYSE:DHI), gained 3.10% to $27.57.
D.R. Horton, stated that net income for its third fiscal quarter ended June 30, 2015 raised 96% to $221.4 million, or $0.60 per diluted share, from $113.1 million, or $0.32 per diluted share, in the same quarter of fiscal 2014. Homebuilding revenue for the third quarter of fiscal 2015 raised 37% to $2.9 billion from $2.1 billion in the same quarter of fiscal 2014. Homes closed in the quarter raised 28% to 9,856 homes, contrast to 7,676 homes in the preceding year quarter.
For the nine months ended June 30, 2015, net income raised 39% to $511.8 million, or $1.39 per diluted share, from $367.3 million, or $1.05 per diluted share, in the same period of fiscal 2014. Homebuilding revenue for the nine months ended June 30, 2015 raised 37% to $7.5 billion from $5.4 billion in the first nine months of fiscal 2014. Homes closed in the nine-month period raised 30% to 26,072, contrast to 20,058 homes in the same period of fiscal 2014.
D.R. Horton, Inc. operates as a homebuilding company. It is engaged in the acquisition and development of land; and construction and sale of residential homes in 27 states and 79 markets in the United States under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, and Crown Communities.
Shares of Citizens Financial Group Inc (NYSE:CFG), inclined 0.96% to $26.19, during its last trading session.
Citizens Financial Group, declared that The Royal Bank of Scotland Group plc (“RBS”), through a partner, has agreed to sell 86 million shares, or 16%, of CFG’s issued and outstanding common stock at a price to the public of $26.00 per share (the “Offering”). CFG will not be issuing or selling common stock and will not receive any proceeds from the Offering which is predictable to close on August 3, 2015.
The underwriters have a 30-day option to purchase up to an additional 12.9 million shares at the Offering price, less the underwriting discount to cover overallotments, if any.
Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States.
Finally, Cousins Properties Inc (NYSE:CUZ), remained flat at $9.97.
Highlights
- Funds From Operations were $0.21 per share.
- Same property net operating income on a cash basis was up 5.2% over the preceding year.
- Second quarter second generation net rent per square foot on a cash basis raised 32.8%.
- Leased or renewed 521,348 square feet of office space, counting a 255,413 square foot renewal with Transocean at Greenway Plaza.
- Formed a joint venture to develop a mixed-use project in Chapel Hill, North Carolina. The project is predictable to contain 159,000 square feet of office space, 43,000 square feet of retail space and 246 apartment units.
- Initiated sales process for 2100 Ross, an 844,000 square foot office property in Dallas, Texas.
- Subsequent to quarter end, opened Phase II of Emory Point, a mixed-used development in Atlanta, Georgia. The project contains 307 apartment units and 45,000 square feet of retail space;
- Subsequent to quarter end, signed a 15-year, build-to-suit lease with NCR Corporation to develop an about 485,000 square foot headquarters building in Midtown Atlanta.
Cousins Properties Incorporated (CUZ) recently stated its results of operations for the quarter ended June 30, 2015.
“It was another solid quarter, highlighted by the early renewal of Transocean’s lease at Greenway Plaza and the start of Carolina Square in Chapel Hill,” said Larry Gellerstedt, President and Chief Executive Officer of Cousins. “Our expanding development pipeline highlights the importance of our development capabilities at this point in the real estate cycle. Counting our recently declared NCR development, we presently have about $360 million under development with 68% of the office and retail space pre-leased.”
Cousins Properties Incorporated, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio, in addition to performs certain real estate-related services in the United States.
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