Beazer Homes USA, Inc. (NYSE:BZH) takes up Master Planned Community project

Posted on Jul 12 2013 - 4:14am by Pushpa Naresh

Boston, MA 07/12/2013 (wallstreetpr) - The leading home builder in the United States, Beazer Homes USA, Inc. (NYSE:BZH) recently announced that the company acquired around 232 acres of a land parcel in one of the highly active submarkets for new homes in the country, the Frisco Texas. The company is planning to take up the development efforts of the Master Planned Community project of Miramonte.

It is planned that, upon completion, the Miramonte project will comprise 600 single family residences inside the community with individual residences ranging in an area between 2000 square feet and 4000 square feet. The access to the Miramonte Project has been planned to take effect through the Dallas North Tollway in the West and through the I-75 in the East. Furthermore, the project is strategically located in the highly popular Prosper Independent School District. The Division President for BZH noted that the company will continue its active presence in the submarket of Frisco, Texas through this large scale Master Planned Community, which is aimed at providing a wide range of home and floor plans to suit the diversified requirements of particular customers.

Beazer Homes USA, Inc. (NYSE:BZH) closed at $18.97 on Thursday, recording an increase of 9.34% in its share price for the day. The stock fluctuated from a low value of $17.82 to a high one of $19.09 per share. The company currently has a 52-week low of $3.46 and a 52-week high of $23.29 per share. Beazer Homes currently has 25.09 million outstanding shares in the market with institutional ownership of 97% of its total equity capital. Trading volume stood at 1.58 million shares on Thursday, with an average one for Beazer Homes at 1.15 million shares per day.

About the Author

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

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