Taylor Morrison wrote in its prospectus, "We believe that a strong fundamental U.S. housing recovery is underway on a national basis, driven by consumers who are increasingly optimistic about their economic prospects and supported by several positive economic and demographic factors." Taylor Morrison went on to write that, "the increase in new building permits is consistent with an average of 30% and 48% year-over-year growth in new home orders and backlog reported by the top 10 public homebuilders (ranking based on 2011 revenues reported by Hanley Wood.)"
The company plans to go public on the
New York Stock Exchange
though the price range has not been made public. The buzz is already building among institutional money managers looking for new names for their homebuilding portfolios. Without analyst coverage, these names tend to stay low on the radar screen, but if you read the prospectus, you'll see strong fundamentals to support the positive stock performance.
--Written by Debra Borchardt in New York.
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