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DHI's fiscal fourth-quarter results are likely to reflect affordability challenges, elevated sales incentives and pricing pressure, while lower construction costs may cushion margins.
Valuations seemed much more favorable for international property companies, particularly in comparison to some of the larger U.S. companies involved with senior housing and data centers. Along these lines, the Fund initiated positions in the common stock of Scentre Group and Home Depot during the quarter. Third Avenue Real Estate Value Fund trimmed back WESCO and Freddie Mac preferred, exited D.R. Horton, and extended its British Pound and Hong Kong Dollar hedges for portfolio management purposes.
Investors questioning the returns on artificial intelligence (AI) spending should consider securing exposure to another sector: US homebuilders. Housing stocks charged higher on Thursday as Treasury yields declined, offering a glimpse of how they stand to benefit from a rotation out of technology due to AI bubble concerns.
Mortgage rates in the 1970s regularly topped 15% and buyers still lined up. Today a rate near 7.4% has nearly frozen the market solid, and the explanation involves two forces most buyers never see coming.
Pending home sales just cratered to a record low, yet homebuilder stocks surged the same day the data dropped.
On October 20, 2026, D.R. Horton Inc (DHI) shares rose 3.6% today, trading at $140.17. This movement comes in the context of a 52-week trading range of $130.40
Rate Shock: REITs enter earnings season on their back foot amid a renewed surge in long-term rates, facing a materially different cost-of-capital and financing environment than just three months ago. The rate surge is again stressing highly leveraged borrowers, particularly across private markets. Public REITs are better positioned, but remain exposed through refinancing, tenant credit, and equity valuations. Higher rates have brought an important silver lining: years of expensive capital are finally curbing construction, with shrinking pipelines beginning to support occupancy, rents, and landlord pricing power.
Artificial intelligence has become one of the American economy's most powerful growth engines ever. Technology companies are pouring hundreds of billions of dollars into data centers, semiconductors, and electrical infrastructure, creating jobs and fueling demand across industries.