A wave of home builders debuting on the stock markets this year has slightly reordered the ranks of the largest publicly traded builders in the U.S.
Since January, five home builders have conducted initial public offerings of their stock and raised nearly $1.46 billion cumulatively. That’s the most that the industry has reaped in IPOs in a given year since 1993, according to Dealogic Inc.
Taylor Morrison Home Corp., a builder in Southern and Western U.S. states as well as Canada, now ranks as the 11th largest company by enterprise value at roughly $1.6 billion. (Enterprise value takes into consideration equity, debt, preferred shares, minority interests and cash on hand. In contrast, market capitalization typically focuses only on equity value.)