Case 54 LGI Homes, Inc

LGI Homes, Inc. is a Delaware corporation incorporated in the year 2013. LGI Homes is involved in the design, construction, and sale of new homes in different markets in the United States. The management team of the company has been in the residential land development business from the mid-1990s onward. The company commenced homebuilding operations in the year 2003. Over the past two decades, LGI Homes has constructed and closed over 50,000 homes. By 2021, the company has made 10,442 home closings. LGI Homes had its initial public offering in the year 2013. Over the past decade, the company has expanded its presence from nine markets in four states to 35 markets in 19 states in the United States. The company focusses on geographical expansion as a part of its growth strategy. LGI Homes has a diversified multiple entry-level product offerings such as attached and detached homes, active adult offerings. The active adult offerings are sold under the LGI Homes brand. The luxury series homes are sold under the Terrata Homes brand. The wholesale business unit builds and sells houses to corporates who are looking to acquire multiple homes for rental purposes through bulk sales agreements. LGI Mortgage Solutions facilitates sources of finances for the customers. By 2021, 93 active communities possessed the LGI Homes brand. Eight communities had the Terrata Homes brand. In 2021, the LGI Homes had closed 183 Terrata Homes with an average sales price per home of $482,410. By December 31, 2021, the company employed 952 people. LGI Homes focusses on a flexible land acquisition strategy of either purchasing/optioning finished lots at attractive prices or purchase of raw land for residential development. The total monthly cumulative returns for the LGI Homes stock was 113% compared to 52% for the market index S&P 500 during the period March 2018–February 2023.