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Last $29.34 USD
Change Today -0.27 / -0.91%
Volume 356.1K
MTH On Other Exchanges
New York
As of 8:04 PM 02/9/16 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

8800 East Raintree Drive

Suite 300

Scottsdale, AZ 85260

United States

Phone: 480-515-8100


Meritage Homes Corporation designs and builds single-family detached homes. The company primarily builds in the high-growth regions of the United States and offers various homes that are designed to appeal to a range of homebuyers, including first-time, move-up, active adult, and luxury. The company has operations in three regions: West, Central and East, which include nine states: Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company’s homebuilding and marketing activities are conducted under the Meritage Homes brand in each of its homebuilding markets, other than in Tennessee, where it operates under the Phillips Builders brand, and in the Atlanta and Greenville markets where it operates under the Legendary Communities brand. The company also operates under the name Monterey Homes in some markets. As of December 31, 2014, the company was actively selling homes in 229 communities. Strategy The company’s strategy includes various elements, such as maintaining sufficient capital and liquidity to take advantage of market opportunities while holding leverage at moderate levels to optimize shareholder returns; hiring and nurturing top talent; strategically growing business utilizing market research tools to make informed decisions about land purchases both organically and through acquisitions in new markets; employing knowledge of customer preferences generated through regular surveys and research to align product offerings with homebuyers’ demands; customizing sales techniques for buyers; evaluating pricing, and refining product and community amenity offerings to better appeal to potential buyers; improving construction process by working with vendors to find mutual efficiencies; providing the highest level of customer service and care by working closely with buyers throughout the sales and construction process; and providing an efficient sales-to-close cycle time by refining processes and streamlining scheduling and production. Seasonality Historically, the company experienced seasonal variations in the quarterly operating results and capital requirements. The company typically sells more homes in the first half of the fiscal year than in the second half, which creates additional working capital requirements in the second and third quarters to build inventories to satisfy the deliveries in the second half of the year. Regulations In order for the company’s homebuyers to finance their home purchases with FHA-insured or VA-guaranteed or USDA-guaranteed mortgages, the company is required to build such homes in accordance with the regulatory requirements of those agencies. History Meritage Homes Corporation was founded in 1985. The company was incorporated in 1988 in the state of Maryland.


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