The 3 largest real estate companies in the United States: PulteGroup (PHM) (1950)

Pulte Group, Inc. (NYSE: PHM) was founded in 1950, formerly known as Pulte Homes, Inc. (Pulte Homes, Inc.), and was changed to Pulte Homes, Inc. in March 2010. Current name, headquartered in Atlanta, Georgia, with 5,245 full-time employees. It is one of the three largest housing builders (real estate companies) in the United States (in fact, Pardi, Holden and Leiner have all been the first, second and Third, don’t be too entangled. The ranking is calculated based on the company’s current year’s performance and revenue).

PulteGroup PHM Logo

Pulte Group (Pulte) PulteGroup (PHM) PulteGroup (PHM):

The main business of PulteGroup is the development and sales of private housing. In addition, it also provides financial services for mortgage financing and title insurance through the Pulte Mortgage department. The company’s residential development and sales department owns “Pulte Homes” (improved housing) and “Centex Homes” (the first home buyer market, in 2009, it acquired the second largest real estate company in the United States that was severely injured in the subprime mortgage crisis. [Note 1] After the establishment) and “Del Webb” (the elderly residential market, formed after the acquisition of the world’s seventh largest real estate company Del Webb in July 2001 ), three residential brand product lines, 28 in the United States Operates in 58 markets in the state. Based on the number of houses delivered by the company in 2012, Pulte Homes accounted for 43%, Centex Homes accounted for 31%, and Del Webb accounted for 26%.

PulteGroup, Inc., through its subsidiaries, is mainly engaged in the housing construction business in the United States. The company acquires and develops land mainly for residential purposes; and builds houses on the land. It offers a variety of home designs, including single-family houses, townhouses, apartments and duplex villas under the brands Centex, Pulte Homes, Del Webb, DiVosta Homes and John Wieland Homes and Neighborhoods.

As of December 31, 2019, PulteGroup controlled 158,262 units and 64,903 units under the land option agreement.

PulteGroup also arranges financing by mainly providing mortgage loans for home buyers; selling the service rights of the original loan; and providing home buyers with title insurance policies and inspection and checkout services.

History of PulteGroup (PHM) PulteGroup (PHM):

  • In 1950, Pulte Homes was founded;
  • In 1969, Fittipaldi public on the NYSE IPO listed;
  • In 1979, Pulte had more than 1,500 employees;
  • In 1989, Pulte’s total assets reached 433 million US dollars;
  • In July 2001, Pardi acquired the well-known senior community builder and the seventh largest real estate developer in the world-Del Webb (Del Webb), and Del Webb was renamed “Pardi Housing Company Del Webb”. Webb Group” will include the two famous brands of Del Webb and Sunshine City under its umbrella. After the completion of the acquisition, the new Paldi Company will become the country’s largest house builder in one fell swoop;
  • In 1996, Fittipaldi and GE (General Electronic Co., hereinafter referred to as GE), to let GE be the preferred supplier of home appliances in the house;
  • In May 1998, Poulter acquired Radnor Homes in Tennessee;
  • In July 1998, PulteGroup acquired Divosta for approximately US$150 million;
  • In 1999, Pulte company cash acquisition of Blackstone (Blackstone) net equity real estate assets in senior citizen housing business joint venture company;
  • In August 2001, Paldi Company signed a three-year cooperation agreement with Pacific Timber Company of Louisiana. The latter became the company’s largest timber supplier, saving the company about US$3~5 million in costs;
  • In 2001, the company acquired Del E. Webb Construction Company, founded by Del Webb, for $1.8 billion;
  • In 2003, the company acquired Sivage-Thomas Homes;
  • In September 2004, Pulte reached an FTTP configuration agreement with Verizon, the US telecommunications giant , to connect Pulte’s home users to Verizon’s bundled commercial services, namely: VZ provides fiber optic access to houses built by Pulte service;
  • On August 18, 2009, Pulte Homes Inc. acquired its competitor Centex (the second-ranked real estate company in the United States) for US$3.1 billion, thus creating the largest real estate company merger in the history of the United States. This transaction was on February 23, 2010. Day finish
  • In March 2010, Pulte Homes Inc. changed its name to PulteGroup, Inc.;
  • In June 2013, Paldi moved its capital to Atlanta, Georgia;
  • In 2016, Ryan Marshall (Ryan Marshall) became the company’s president and chief executive officer;
  • In April 2019, the company acquired the housing construction business of American West Homes for $150 million.

[Note 1]: American Sundax Corporation (Centex)

Centex was once one of the four largest real estate companies in the United States with the same reputation as Pulte, DR Horton and Lennar. Affected by the subprime mortgage crisis, it was acquired by Pulte, the largest real estate company in the United States, on August 18, 2009, for only $3.1 billion.

Centex has been ranked among the top ten builders in the United States for 35 consecutive years. Now it has become the nation’s top developer of housing construction and related services, with annual revenues of more than 10 billion U.S. dollars, and a total of nearly 18,000 employees, serving in 26 states. There are 90 markets and 1,500 branches all over the United States and the United Kingdom. The company’s important businesses are concentrated in five areas: housing construction, property services, real estate financial services, construction-related services, and traditional commercial banking.

A brief history of Sundax Centex:

  • In 1950, Centex was established in Dallas, Texas;
  • In 1963, Centex entered the field of building materials (cement) manufacturing;
  • In 1966, Sundax entered the field of construction management and service after acquiring JW Bateson;
  • In 1969, Centex IPO became a listed company;
  • In 1973, Sundax entered the real estate mortgage business;
  • Immediately afterwards, Centex acquired the Southwest Branch of the Federal Reserve and Credit Insurance Corporation and entered the field of commercial banking;
  • In 1978, 1982, 1987 and 1990, Sundax successively acquired several construction management and service companies;
  • In 1988, Centex acquired Fox & Jacob;
  • In 1994, Centex listed its cement plant;
  • In 1996, Centex merged mortgage loans and traditional commercial banking businesses to provide more comprehensive real estate financial services;
  • In 1997, Centex shares were listed in the UK;
  • In March 1997, Centex acquired Cavco Industries and entered the industrialized production housing market;
  • In June 2003, Sundax spun off Cavco Industries from the group;
  • In January 2004, Centex split off Centex Construction Products (Centex Construction Products), which has now been renamed Eagle Materials;
  • On August 18, 2009, Centex was acquired by Pulte, the largest real estate company in the United States, for US$3.1 billion.

PulteGroup (PHM) investment:

PulteGroup has set a record of continuous profitability for 53 consecutive years. From 1994 to 2002, PulteGroup’s earnings per share compounded an annual growth rate of 26%. As of 1931, 2014, the company has a total of 158,262 (sets) houses and 64,903 lots of land option agreements.

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