NVR News and Press, NVR Inc. From 12/12/20

Housing is a massive industry, and it's one that is often overlooked by investors. That's particularly true for homebuilders, a tough, competitive business that requires a lot of debt to buy land to develop, and at the risk of holding that land when the cycle turns down. Homebuilder N...

I discuss the ins and outs of intrinsic value calculation using an evidence-based approach, and come to some unconventional conclusions while affirming some of the basics. In a very long and detailed article, I tackle questions such as whether the discount rate should vary with a comp...

2020 has been a great year for many homebuilder stocks. Even with the economy -- and millions of Americans -- still struggling from the coronavirus recession, home sales have surged this year. Some of the biggest winners include D.R. Horton (NYSE: DHI) , LGI Homes (NASDAQ: LGI...

U.S. equity markets climbed to record-highs this past week on positive trial results for a COVID-19 vaccine, a potentially major breakthrough hailed as a "great day for science and humanity." Adding to its 7% post-election surge, the S&P 500 gained 2.3% this past week to...

People are buying homes at some of the highest levels in decades, and there's not enough inventory to meet the demand. Homebuilders are scrambling to take advantage of the opportunity. Moreover, there's strong evidence that this isn't a short-term blip. There are more millennials than any o...

U.S. equity markets surged by the most since April on an election week rally fueled by the mounting prospects of a divided government after the "Blue Wave" failed to materialize. Rebounding from their worst week since March, the S&P 500 surged by 7.2% this past week while the Dow ...

Flying under-the-radar during Election season, a frenzy of real estate earnings reports over the last three weeks have provided critical information on the state of the commercial real estate sector. Roughly two-thirds of the 170 equity REITs in our coverage universe beat consensus FF...

The looming election has been weighing on homebuilder stocks over in the latter half of October, writes Wells Fargo analyst Truman Patterson."We believe election outcome results, potential changes in future tax policy, fiscal stimulus concerns and rising rates are in control of equity perform...

U.S. equity markets plunged by the most since March this week as a strong slate of economic data and corporate earnings was overwhelmed by pre-election jitters and amplified coronavirus concerns. A cascading wave of lockdowns across Europe rattled global equity markets while narrowing...

Did the rent get paid? We're at the halfway-point of another newsworthy REIT earnings season. Results thus far have been better-than-expected as dividend cuts have given way to dividend boosts. After 63 equity REITs and 32 mortgage REITs cut dividends in Q2, just three REITs have anno...