Latest news with #DreamFindersHomes
New York Times
14-07-2025
- Business
- New York Times
Sale of Rays expected to be final by September, team likely to stay in Tampa area: Source
ATLANTA — The sale of the Tampa Bay Rays from current owner Stu Sternberg to a group led by Jacksonville developer Patrick Zalupski for about $1.7 billion has been agreed to in principle and is expected to be completed as soon as September, a person briefed on the process who was not authorized to speak publicly told The Athletic on Monday. Advertisement Zalupski is expected to keep the team in the Tampa Bay area, with a strong preference to be in Tampa rather than St. Petersburg, the source said. Sternberg bought the team for $200 million in 2004. Neither the Rays nor Zalpuski's group could immediately be reached for comment. Sportico reported in June that Zalupski's group was in advanced talks to buy the team and had signed a letter of intent. The Rays last month said in a statement that they were in exclusive talks with Zalupski's group, which includes Bill Cosgrove and Ken Babby. Zalupski is the founder of Dream Finders Homes, while Cosgrove runs Ohio-based Union Home Mortgage. Babby owns a pair of minor-league teams, the Akron RubberDucks and the Jacksonville Jumbo Shrimp. As of last month, other bidders were still hopeful of landing the team, including a group led by Memphis hedge fund founder Trip Miller. The sale could hasten a conclusion to the Rays' long-running search for a new stadium. For two decades, Sternberg has tried to find a new home for the Rays other than Tropicana Field, which was built in 1990. But several iterations fell through, including a unique plan that would have had the team split time between Florida and Montreal. This spring, The Athletic reported that Major League Baseball commissioner Rob Manfred and some owners were pressing Sternberg to sell. Sternberg's most recent plan, to build a new stadium in St. Petersburg where the team currently plays, was derailed after Hurricane Milton ravaged the area in the fall. The hurricane significantly damaged Tropicana Field, forcing the Rays to play this regular season at Steinbrenner Field, the New York Yankees' spring training facility and home of the minor league Tampa Tarpons. A fight over public funding for a new stadium also ensued, and an agreed-upon $1.3 billion deal to build a new park in St. Petersburg went by the wayside this spring. Advertisement Manfred said last month he was hopeful that the Rays could return to Tropicana Field for the 2026 season. 'The repair of the stadium is moving along,' Manfred said at the time. 'We remain optimistic that we will be ready either for Opening Day or very shortly thereafter. Obviously, the big contingency is what happens with hurricane season, right? There's not much you can do about that, other than keep your fingers crossed. But we are hopeful that we'll get it ready for Opening Day '26.'
Yahoo
11-07-2025
- Business
- Yahoo
Why Dream Finders Homes Inc. (DFH) Outpaced the Stock Market Today
Dream Finders Homes Inc. (DFH) ended the recent trading session at $28.22, demonstrating a +1.15% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.09%. Coming into today, shares of the homebuilder had gained 21.2% in the past month. In that same time, the Construction sector gained 5.19%, while the S&P 500 gained 4.37%. The investment community will be closely monitoring the performance of Dream Finders Homes Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.66, down 18.52% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, down 3.72% from the prior-year quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.23 per share and revenue of $4.76 billion. These totals would mark changes of -3.29% and +7.03%, respectively, from last year. Investors should also note any recent changes to analyst estimates for Dream Finders Homes Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Dream Finders Homes Inc. presently features a Zacks Rank of #3 (Hold). Valuation is also important, so investors should note that Dream Finders Homes Inc. has a Forward P/E ratio of 8.65 right now. This denotes a discount relative to the industry average Forward P/E of 9.91. Also, we should mention that DFH has a PEG ratio of 3.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Building Products - Home Builders industry held an average PEG ratio of 2.34. The Building Products - Home Builders industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 22% echelons of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dream Finders Homes, Inc. (DFH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
27-06-2025
- Business
- Yahoo
Dream Finders Homes Inc. (DFH) Rises Higher Than Market: Key Facts
In the latest trading session, Dream Finders Homes Inc. (DFH) closed at $24.49, marking a +1.16% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%. The homebuilder's stock has climbed by 18.68% in the past month, exceeding the Construction sector's gain of 2.22% and the S&P 500's gain of 5.12%. Investors will be eagerly watching for the performance of Dream Finders Homes Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.66, marking a 18.52% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, down 3.72% from the prior-year quarter. For the full year, the Zacks Consensus Estimates are projecting earnings of $3.23 per share and revenue of $4.76 billion, which would represent changes of -3.29% and +7.03%, respectively, from the prior year. Investors should also pay attention to any latest changes in analyst estimates for Dream Finders Homes Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Dream Finders Homes Inc. is carrying a Zacks Rank of #3 (Hold). In terms of valuation, Dream Finders Homes Inc. is presently being traded at a Forward P/E ratio of 7.51. This signifies a discount in comparison to the average Forward P/E of 9.63 for its industry. Meanwhile, DFH's PEG ratio is currently 2.97. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Building Products - Home Builders industry stood at 2.07 at the close of the market yesterday. The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 7% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dream Finders Homes, Inc. (DFH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
19-06-2025
- Business
- Forbes
Who Is The Billionaire Making A Bid For The Tampa Bay Rays?
By Thomas Gallagher Patrick Zalupski On Wednesday, the Tampa Bay Rays announced that a group led by Patrick Zalupski—a homebuilding billionaire–entered exclusive negotiations to buy the team from principal owner Stuart Sternberg. The price being discussed: $1.7 billion, according to Sportico. The announcement comes amid uncertainty regarding the team's future in the Tampa Bay area following a series of failed stadium proposals–including plans for renovations of Tropicana Field or a new ballpark in St. Petersburg. Now, ownership could be turned over to a group headed by the 44-year-old CEO of a publicly-traded developer. Zalupski, whose net worth Forbes estimates at $1.3 billion, is the founder and CEO of Dream Finders Homes, a Jacksonville-based company that describes itself as one of the country's fastest-growing homebuilders. Zalupski's group is in talks with Sternberg, a former partner at Goldman Sachs who purchased the Rays in 2004 with fellow Goldman Sachs partner Matthew Silverman for a reported $200 million. The two other buyers joining Zalupski, according to a Rays announcement, are Bill Cosgrove, CEO of Union Home Mortgage, and Ken Babby, the founder of the Fast Forward Sports Group and owner of two minor league baseball teams. Zalupski did not immediately reply to a request for comment from Forbes. Born in the suburbs of Detroit, Zalupski's family moved frequently during his childhood, as Forbes first reported in 2021. After graduating with a degree in finance from Stetson University, he became an auditor at FedEx, a job he felt dispassionate about. When his parents divorced, his mother moved to Jacksonville, Florida, where she worked as a realtor. Zalupski soon followed and began helping with her business. He flipped his first property in 2004 at age 24. Reinvesting the profits from the deal, he then bought a nine-unit condo project in 2006–just before the housing market crashed. Despite taking a loss on the investment, the mistake formed the foundation of Dream Finders, which Zalupski cofounded with a construction partner, Mark McGuigan, and McGuigan's wife, Tobi, in 2008. As the real estate market began to rebound following the financial crisis, Dream Finders built 27 homes the following year. By 2013, the company had sold a total of more than 1,000 homes, and Zalupski bought out the McGuigans for an undisclosed amount. Zalupski then expanded Dream Finders beyond Florida into Georgia, then Colorado and Texas. In 2021 he took the company public on the New York Stock Exchange. He owns about half the company's shares and has 84% of the voting rights. The business has been profitable every year since its founding, Zalupski told Forbes in 2021. That remains true four years later, based on Securities and Exchange Commission filings. In its most recent year, Dream Finders closed on 38,000 homes and earned $335 million in net income on revenue of $4.4 billion. More than 90% of Zalupski's estimated fortune lies in his Dream Finders shares, per Forbes calculations. Since taking the company public four years ago, he's sold about $20 million worth of his stock, plus has entered into more than one pre-paid forward only sale agreement. Just how he's going to come up with hundreds of millions of dollars to finance the purchase isn't clear, though there is always the chance he pulled out dividends when the company was private. He'll also have partners and the group will likely borrow to fund the deal. The Rays, meanwhile, have gone through a tough stretch. In 2024, the roof at the team's stadium, Tropicana Field, was destroyed by Hurricane Milton. For the 2025 season, the Rays elected to play home games at Steinbrenner Field, the Yankees' spring training stadium, located nearby in St. Petersburg. It only seats 11,026, making it the smallest ballpark in Major League Baseball and roughly a quarter the size of Tropicana. With ticket sales down for the 2025 season and the foreseeable future, Zalupski's group might have a plan to turn the franchise around. Despite being relegated to a stadium more compact than the Oakland A's, who are destined for relocation, billionaire Zalupski and his rich partners' potential ownership may be a needed shot in the arm for the team's stadium issues.
Reuters
18-06-2025
- Business
- Reuters
Rays' owner discussing sale of team to Florida developer
June 18 - Tampa Bay Rays principal owner Stu Sternberg is in talks to sell the franchise to a group led by a Florida-based residential developer. Patrick Zalupski, a home builder in Jacksonville, was identified as the potential lead buyer in a deal that values the team at about $1.7 billion, according to a report Wednesday by Sportico. He already has executed a letter of intent to purchase the team, per the report. Sternberg bought the Rays in 2004 for $200 million. The Rays issued a statement responding to the report, confirming that the team has "recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team." According to the Rays' statement, neither side will have further comment during the discussions. According to Zalupski's online bio, he is the founder, president and CEO of Dream Finders Homes. The company was founded in December 2008 and closed on 27 homes in Jacksonville the following year. Now, with an expanded footprint to many parts of the United States, Dream Finders has closed on more than 31,100 homes since its founding. He also is a member of the board of trustees at the University of Florida. A year ago, Sternberg had a deal in place to build a new stadium in the Historic Gas Plant District, a reimagined recreational, retail and residential district in St. Petersburg to replace Tropicana Field. However, after Hurricane Milton shredded the roof of the stadium last October, forcing the Rays into temporary quarters, Sternberg's commitment has been less than resolute, saying the team would have to bear excess costs that were not in the budget. In March, MLB commissioner Rob Manfred and some other owners began to privately push Sternberg to sell the franchise, The Athletic reported. It is unclear what Zalupski's group, if it ultimately goes through with the purchase and is approved by MLB owners, would do for a permanent stadium. The Rays currently are playing at George M. Steinbrenner Field in Tampa, located at the site of the New York Yankees' spring training facility and home of their Single-A Tampa Tarpons. --Field Level Media
