KB Home Opens Next Phase Of Mountain Vail Reserves In Tucson
Zacks Investment Research | Jun 16, 2017 02:05AM ET
KB Home (NYSE:KBH) announced the opening of the next phase of its Mountain Vail Reserves community in Tucson, AZ.
The community’s location is easy to access by major transportation routes. It is also in close proximity to commercial and employment hubs and numerous shopping, dining entertainment centers.
All houses in Mountain Vail Reserves will be designed in an energy and water efficient manner since KB Home uses ENERGY STAR certification and WaterSense-labeled faucets and water fixtures. These features help owners reduce their monthly utility bills. Moreover, buyers can customize their homes at the KB Home Design Studio.
KB Home has been focusing on several strategic initiatives over the last few years to drive profits. One of its primary targets has been to increase community count.
The company regularly opens communities in highly favorable submarkets to drive growth. KB Home’s recently-opened communities include Prospect Fields in San Diego County, Edgebrook community in Bulverde, Sunrise Villas in Round Rock, and Legend Point–The Reserves in New Braunfels.
However, at the end of the last reported first-quarter 2017, average community count was 238, down 2.5% year over year. The company anticipates second-quarter and fiscal 2017 average community count to be flat year over year. Nonetheless, these new communities are expected to drive community count considerably.
The company actively invests in land acquisition and development, mainly in high-end locations, which is critical for community count as well as top-line growth. KB Home had put in $1.4 billion in land and development in fiscal 2016. It has already acquired land required for fiscal 2017, which is expected to generate a steady source of income in the days ahead. In the first quarter of fiscal 2017, the company invested $302 million in land, land development, and fees, with $133 million representing new land acquisitions.
Investors should note that KB Home’s shares have gained 37.1% year to date, outperforming the Zacks categorized Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.