Divisions of Lennar’s homebuilding segment
Lennar’s homebuilding segment includes the construction and sale of single-family attached and detached homes. Other major players such as PulteGroup (PHM) and D.R. Horton (DHI) are in the same line of business. Lennar (LEN) also acquires, develops, and sells residential land directly and through unconsolidated entities.
Expanding geographic reach
Lennar began as a local Miami homebuilder. It has now expanded to 18 US states, including major markets such as California, Texas, Washington, Atlanta, and Houston.
To keep up with its growing operation and to better coordinate the company, Lennar divided its homebuilding operations into six geographies. They’re called Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida, Homebuilding Houston, and Homebuilding Other.
Lennar’s brand names
Lennar primarily sells single-family attached and detached homes in communities targeted to first-time, move-up, and active adult homebuyers. Although the company operates primarily under the Lennar brand name, other brands of the company include Cambridge, Greystone, NuHome, Patriot, U.S. Home, and Village Builders.
Lennar (LEN) offers a diversified line of homes in a variety of environments, from urban infill communities to golf course communities. The company has initiated its Everything’s Included marketing program. The company claims it simplifies the home buying experience by including the most desirable features as standard items.
Apart from homebuilding ETFs such as the SPDR S&P Homebuilders ETF (XHB), other major ETFs with exposure to Lennar (LEN) include the S&P 500 Pure Growth ETF (RPG), which has 2.03% ownership in the company.