SOURCE: Paragon Financial Limited

Paragon Financial Limited

April 20, 2012 08:20 ET

Lennar Corporation and Toll Brothers Shares Dip as Builders' Confidence Falls

The Paragon Report Provides Stock Research on Lennar Corporation and Toll Brothers

NEW YORK, NY--(Marketwire - Apr 20, 2012) - After an impressive start to the year the Residential Construction Industry has started to fall. The outlook for U.S. homebuilders dropped in April for the first time in six months, a sign that the Industry is still recovering. The SPDR S&P Homebuilders ETF has dipped over 4 percent in the last month. The Paragon Report examines investing opportunities in the Residential Construction Industry and provides equity research on Lennar Corporation (NYSE: LEN) and Toll Brothers, Inc. (NYSE: TOL).

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The National Association of Home Builders reported earlier this week that their builder sentiment index -- which scale runs from 0 to 100 -- fell to 25 from 28 the previous month. March's reading was the highest rating since June of 2007. The dip came as a surprise to many as analysts had predicted the index would continue its upward momentum.

"What we're seeing is essentially a pause in what had been a fairly rapid build-up in builder confidence that started last September," said David Crowe, chief economist with the homebuilders' group. "This is partly because interest expressed by buyers in the past few months has yet to translate into expected sales activity."

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Lennar Corporation, one of the nation's largest homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock payable on May 9, 2012 to holders of record at the close of business on April 25, 2012.

Toll Brothers, Inc., the nation's leading builder of luxury homes, previously reported results for its first quarter ended January 31, 2012. The Company reported a first-quarter net loss of $2.8 million, or $0.02 per share diluted, compared to 2011's first-quarter net income of $3.4 million, or $0.02 per share diluted.

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