GTIS Partners and Hovnanian Enterprises Announce the Expansion of their Homebuilding Joint Venture Portfolio to $1 Billion of Equity to Build 12,600 Homes Valued at $6 Billion [Yahoo! Fina...
Hovnanian Enterprises, Inc. Class A (HOV)
US:NYSE Investor Relations:
khov.com/investor-relations
Company Research
Source: Yahoo! Finance
investments, and Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, today announced that they have expanded their partnership to develop, construct and sell homes in a new joint venture of eight additional for-sale homebuilding communities. To date, the partners have invested in approximately 70 homebuilding communities through multiple joint ventures. The eight newly added communities comprise 1,392 homes located across New Jersey Florida Delaware , and South Carolina . In addition to being geographically diversified, these communities are diversified by product type, consisting of townhomes, condominiums and both market-rate and active adult single-family homes. Approximately $115 million of capital will be invested in the joint venture, with Hovnanian contributing 30% of the capital requirement and GTIS Partners providing 70%, with total build out costs projected at approximately $800 million . Hovnanian will manage the day-to-day operations of the venture
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News
- Hovnanian Enterprises Announces Second Quarter Fiscal 2024 Earnings Release and Conference CallGlobeNewswire
- GTIS Partners and Hovnanian Enterprises Announce the Expansion of their Homebuilding Joint Venture Portfolio to $1 Billion of Equity to Build 12,600 Homes Valued at $6 BillionPR Newswire
- Hovnanian Enterprises' (NYSE:HOV) five-year total shareholder returns outpace the underlying earnings growth [Yahoo! Finance]Yahoo! Finance
- Hovnanian Enterprises, Inc. (NYSE: HOV) had its "underperform" rating re-affirmed by analysts at Zelman & Associates.MarketBeat
- Hovnanian Enterprises Preferred Stock Diversity Comes With Risks [Seeking Alpha]Seeking Alpha
HOV
Sec Filings
- 5/15/24 - Form 4
- 3/22/24 - Form 4
- 3/22/24 - Form 8-K
- HOV's page on the SEC website