M.D.C. Holdings Fourth Quarter 2012 Numbers
$29.7 M +257.6%
$62.7 M +163.7%
Behind the Numbers:
Now that M.D.C. Holdings, known as Richmond American Homes in its communities, has logged four quarters of profits and jumps in sales and closings it is focusing on keeping that momentum going. That means it needs to buy land at the right price in the right place, which is not likely to be an easy feat since most home builders are looking for the same thing. The company has had some buying traction, loading more than 2,300 new lots into its portfolio in the fourth quarter, more purchases than it made in the entire four quarters before and increasing its lot supply by 10%. And it’s not done yet. The company recently borrowed $250 million worth of 30-year senior notes to give it cash to buy land and make other investments it needs to take advantage of housing's rebound.
M.D.C. Holdings’ fiscal year ends December 31.