Basswood Capital Management L.L.C. Makes New Investment in Century Communities, Inc. $CCS

Basswood Capital Management L.L.C. bought a new stake in shares of Century Communities, Inc. (NYSE:CCS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,444 shares of the construction company’s stock, valued at approximately $533,000.

A number of other hedge funds have also recently modified their holdings of the business. Royal Bank of Canada raised its holdings in shares of Century Communities by 6.5% in the first quarter. Royal Bank of Canada now owns 14,837 shares of the construction company’s stock worth $995,000 after buying an additional 910 shares during the period. AQR Capital Management LLC boosted its holdings in Century Communities by 138.0% during the 1st quarter. AQR Capital Management LLC now owns 71,831 shares of the construction company’s stock valued at $4,820,000 after acquiring an additional 41,653 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Century Communities by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,429 shares of the construction company’s stock valued at $1,102,000 after acquiring an additional 529 shares during the period. Jones Financial Companies Lllp grew its position in Century Communities by 1,513.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company’s stock valued at $81,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Century Communities by 16.7% in the 1st quarter. Intech Investment Management LLC now owns 21,096 shares of the construction company’s stock valued at $1,416,000 after acquiring an additional 3,026 shares during the last quarter. Institutional investors own 99.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zelman & Associates downgraded Century Communities from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 7th. Zacks Research upgraded shares of Century Communities from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised shares of Century Communities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Century Communities Stock Performance

CCS stock opened at $69.46 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50-day moving average price of $68.22 and a 200 day moving average price of $62.64. The company has a market capitalization of $1.97 billion, a P/E ratio of 15.23 and a beta of 1.30. Century Communities, Inc. has a 1-year low of $47.28 and a 1-year high of $76.00.

Century Communities (NYSE:CCS) last issued its earnings results on Wednesday, July 22nd. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.67. The company had revenue of $927.23 million for the quarter, compared to analysts’ expectations of $857.23 million. Century Communities had a net margin of 3.41% and a return on equity of 6.06%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. As a group, equities research analysts forecast that Century Communities, Inc. will post 4.86 EPS for the current fiscal year.

Century Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 26th. Century Communities’s dividend payout ratio is presently 28.07%.

About Century Communities

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.