NEW YORK (Reuters) - Luxury homebuilder Toll Brothers Inc will launch an investment fund to buy up distressed real estate assets, including loan portfolios and land for development, the company said on Monday.
Toll Brothers Inc (TOL) reported financial results for the third quarter of its 2014 fiscal year (3QFY14), which were ahead of analysts' expectations. But the company lowering its guidance coupled with comments regarding pricing pressure sent the stock down, along with the rest of the players in the industry.
Consumer Contrarian submits: The broad economic headwinds still facing builders, highlighted in my recent report ("Housing: No Worse, But No Better"), suggests a cautious approach to homebuilders. This risk-averse view is based primarily on the following general industry assumptions:
NEW DELHI: The BSE Midcap index has managed quite a turnaround from where things stood on February 29. By that day, the BSE Midcap index had lost 14 per cent of its value for the year compared with a 12 per cent crack in the BSE benchmark Sensex. Fast forward one month, not only has it managed to rally more than the benchmark (10 per cent compared with a 7 per cent rise in the Sensex), but it has gone from underperforming the 30-pack benchmark to outperforming it. "We may have hit a bottom somewhere closer to the 6,800 level on the Nifty50.
Last week, Bidness Etc mobilized its primary research department to undertake a survey on Toll Brothers Inc (NYSE:TOL), KB Home (NYSE:KBH), and D.R. Horton, Inc. (NYSE:DHI). The aim was to gauge the housing market conditions and demand for new home sales in the US market.
By PowerOptions:Looking for an easy way to trace the progress of the housing bubble? Look no further than the 26 years of financial data provided on the website of luxury home-builder Toll Brothers (TOL). See how revenue grew from $125 million in 1986 (802 homes completed) by relatively steady progress to $2.3 billion in 2002 (4430 homes).