Investment Thesis
D.R. Horton is the largest U.S. homebuilder, spanning entry-level to luxury homes plus a growing rental/land platform. Scale purchasing, vertical integration, and rental communities drive superior returns.
- Entry-Level Focus: Express Homes targets first-time buyers benefiting from limited resale inventory.
- Rental Platform: Build-for-rent and multi-family communities add recurring income.
- Land Discipline: Shorter land supply and options reduce cycle risk.