Join        Login             Stock Quote

Taylor Morrison Home Files Plans For IPO Of Up To $250M

 December 05, 2012 01:46 PM

(By Balachander) Taylor Morrison Home Corp., a homebuilder, has filed to raise up to $250 million in an initial public offering of its class A common stock.

The filing with the U.S. federal regulators did not disclose how many shares the company plans to offer or the pricing terms.

Headquartered in Scottsdale, Arizona, Taylor Morrison builds single-family detached and attached homes and develop land, which includes lifestyle and master planned communities.

Upon completion of this offering, Taylor Morrison said it will be the sixth largest public homebuilder in North America based on 2011 revenue.

The company plans to use the net proceeds of this offering to acquire partnership interests in TMM Holdings Limited Partnership.

[Related -Savings Glut and Financial Imbalances]

In 2011, the company generated net income of $76.8 million on revenue of $1.4 billion.

For the nine months ended September 30, 2012, Taylor Morrison earned $81.8 million on revenue of $879.0 million. During the same period, the company closed 2,586 homes, with an average sales price across North America of $347,000.

As of September 30, 2012, Taylor Morrison said it offered homes in 122 active selling communities and had a backlog of 4,205 homes sold but not closed, including 903 homes in unconsolidated joint ventures, with an associated backlog sales value of roughly $1.5 billion.

The company disclosed its pre-tax income margin for the nine months ended Sept. 30 was 9.3 percent, which was the highest among the top 10 public homebuilders for the last three completed fiscal quarters.

Taylor Morrison is backed by TPG Global, Oaktree Capital Management and JH Investments Inc.

[Related -A Dividend Aristocrat Is Now On Sale]

Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc., along with Zelman Partners LLC, are acting as joint book-running managers for the proposed offering.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageSavings Glut and Financial Imbalances

Martin Wolf in today's Financial Times discusses the reasons for low interest rates and suggests some read on...

article imageA Dividend Aristocrat Is Now On Sale

The bear market investors have been dreading is already here for many individual stocks. While the S&P 500 read on...

article imageTwo Picks to Play Defense in a Slowing Economy

Is the economy slowing? Last Thursday the Institute for Supply Management (ISM) reported that its read on...

article imageUS Jobless Claims Fall, Moving Closer To Multi-Decade Low… Again

US jobless claims continue to cast a positive glow on the outlook for the labor market. Today’s weekly read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.