MARKET

HCDI

HCDI

Harbor Custom Development, Inc.
NASDAQ

Real-time Quotes | Nasdaq Last Sale

4.750
+0.240
+5.32%
Pre Market: 5.50 +0.75 +15.79% 05:14 12/04 EST
OPEN
4.530
PREV CLOSE
4.510
HIGH
4.900
LOW
4.500
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2
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52 WEEK HIGH
8.36
52 WEEK LOW
3.500
MARKET CAP
25.51M
P/E (TTM)
97.34
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Harbor Custom Development Sees FY2021 Sales $70.000M
Harbor Custom Development (NASDAQ:HCDI) sees FY2021 sales of $70.000 million.
Benzinga · 11/23 12:07
Harbor Custom Development Sees FY2020 Sales $47.000M
Harbor Custom Development (NASDAQ:HCDI) sees FY2020 sales of $47.000 million.
Benzinga · 11/23 12:07
Harbor Custom Development, Inc. Projects $47 Million in 2020 Revenue and $70 Million in 2021
Gig Harbor, Washington , Nov. 23, 2020 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that its 2020 gross revenues are projected to be $47 Million and that 2021 gross revenues are estimated at $70 Million.Chief Executive Officer Sterling Griffin stated, “I am very proud of our management team and their ability to execute Harbor Custom Homes® stated business plan. Our extraordinary growth is a direct result of management’s focused efforts combined with favorable market conditions, including low interest rates, urban flight, and a growing work from home labor force. These projections are based on closed transactions and estimated revenue associated with currently owned, controlled or anticipated inventory in Washington State.”  About Harbor Custom Development, Inc.Harbor Custom Development, Inc., DBA Harbor Custom Homes®, is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington’s Puget Sound region.  Harbor has active or recently sold out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington.  Harbor Custom Development’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces.  Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations.  For more information on Harbor Custom Development, Inc., please visit harborcustomhomes.com.Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  These statements relate to, but are not limited to, expectations of future operating results and financial performance, including GAAP and non-GAAP guidance for the year ending December 31, 2020 and the year ending December 31, 2021, the calculation of certain of our key financial and operating metrics and expectations regarding sales of inventory, as well as assumptions relating to the foregoing.  Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified.  In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “expect,” “plan,” anticipate,” “believe,” “estimate, “predict,” “target,” “project,” “intend,” “potential,” “would,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology that concern our expectations, strategy, priorities, plans, or intentions. You should not put undue reliance on any forward-looking statements.  Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  These forward-looking statements are subject to various risks and uncertainties, including without limitation  complications  due to COVID-19 which could cause delays in dates of completion or closings, and those risks and uncertainties set forth in the Company’s filings with the Securities and Exchange Commission.  Thus, actual results could be materially different.  This document includes statements of summarized financial projections.  There will be differences between the projected and actual results because events and circumstances frequently do not occur as expected and those differences may be material.  The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. CONTACT: Investor Relations Hanover International IR@Harborcustomdev.com 866-744-0974
GlobeNewswire · 11/23 12:00
Harbor Custom Development reports Q3 results
Harbor Custom Development  (HCDI): Q3 net loss of $0.44M.Revenue of $7.8M (+15.0% Y/Y)Press Release
Seekingalpha · 11/16 10:15
Harbor Custom Development, Inc. Announces Third Quarter Financial Results Highlighted by 15% Increase in Sales
GIG HARBOR, Wash., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced consolidated financial results for the third quarter ended September 30, 2020. Third Quarter Highlights * Sales Increased by 15% vs Q3 2019 * Gross Margins Increased to 8% vs -3% Q3 2019 * Acquired or Contracted for 321 Single Family Lots in Western Washington * Contracted to Acquire 144-Unit Apartment Site in Port Orchard, Washington * Announced Product Expansion to Enter First Time Home Buyer Market * Announced Product Expansion into Multi-Family Rental MarketChief Executive Officer Sterling Griffin stated, “The third quarter of 2020 kicked off with our entry into the public markets, and our listing on the NASDAQ Capital Markets Stock Exchange. The public offering proceeds enhanced our ability to address our stated goals for land acquisition and development, planned product expansion, and completed home sales. Market conditions including low interest rates, urban flight and a growing work from home labor force have created exciting opportunities for homebuilders. As a result, we are on track to break our quarterly sales records in Q4. Our previous quarterly sales record was $13,215,600 in Q4 of 2019.”“We have positioned Harbor Custom Homes® as a versatile company, creating diversified product offerings and revenue streams. We own or control 551 lots and 390 multi-family units for future development. Historically our revenue has been comprised of approximately 25% developed lot sales and 75% home sales and we anticipate 2021 revenue to maintain similar ratios.”Summary Third Quarter 2020 ResultsThe following table sets forth the summary statements of operations for the three months ended September 30, 2020 and 2019: For the Three Months Ended  September 30,   2020   2019       Sales$7,806,500  $6,783,800  Cost of sales 7,183,900   6,964,400  Gross profit (loss) 622,600   (180,200) Operating expenses 1,458,200   731,100  Other (expense) income (176,300)  (124,300) Income tax benefit 571,600   439,700  Net (loss)$(440,300) $(596,300) Sales: Sales increased by approximately 15% to $7,806,500 during the three months ended September 30, 2020, from $6,783,800 during the three months ended September 30, 2019. Sales growth was attributable to an increase in the number of homes closed.Gross Profit: The gross profit margin was 8% for the three months ended September 30, 2020 compared to -3% for the three months ended September 30, 2019. During the three months ended September 30, 2020, the margin increased due to higher margins on current home closings.Operating Expenses: Our operating expenses increased by 99% during the three months ended September 30, 2020, as compared to the three months ended September 30, 2019. The $727,100 increase in total operating expenses is primarily attributable to the following:> 1) Insurance costs increased by $507,000, primarily driven by the purchase of directors and officer’s insurance upon the Initial Public Offering; and > 2) Additional payroll expense of $199,600 related to staffing changes and compensation increases.Net Loss: For the three months ended September 30, 2020 and 2019, the Company reported a net loss of $440,300 and $596,300, respectively. The decrease in net loss was primarily attributable to an increase in income tax benefit in 2020.About Harbor Custom Development, Inc.Harbor Custom Development, Inc., DBA Harbor Custom Homes®, is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington’s Puget Sound region. Harbor has active or recently sold out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. Harbor Custom Development’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations. For more information on Harbor Custom Development, Inc., please visit harborcustomhomes.com.Forward-Looking StatementsCertain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “shall,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.Investor Relations Hanover International IR@Harborcustomdev.com 866-744-0974
GlobeNewswire · 11/16 10:00
Lennar Corporation Purchases an Additional 66 Lots at Soundview Estates from Harbor Custom Development, Inc.
Harbor Custom Development, Inc. ("Harbor," "Harbor Custom Homes(R)," or the "Company"), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has closed on the Phase 3 sale of 66 residential lots at Soundview Estates in Bremerton, Washington to Lennar Northwest, Inc. , a subsidiary of the Lennar Corporation, for $7,788,000.
GlobeNewswire · 11/09 21:47
Lennar Corporation Purchases an Additional 66 Lots at Soundview Estates from Harbor Custom Development, Inc.
Gig Harbor, Washington , Nov. 09, 2020 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has closed on the Phase 3 sale of 66 residential lots at Soundview Estates in Bremerton, Washington to Lennar Northwest, Inc. , a subsidiary of the  Lennar Corporation, for $7,788,000.Harbor has now announced the completion of infrastructure improvements on a total of 152 lots at Soundview Estates, of which 127 have been purchased by Lennar for single family home construction. Lennar had previously closed on Phase 1 and 2 together totaling 61 lots from Harbor in December of 2019. Soundview Estates is a 240-lot subdivision offering spectacular views of the Olympic Mountains, Mt. Rainier, the Seattle Skyline, and Puget Sound. Soundview Estates is less than a ten-minute drive to the Seattle Ferry and the Kitsap Naval Shipyard.Soundview Estates can be seen at: https://vimeo.com/453127877.“Once again, we are excited to complete this transaction with Lennar and anticipate they will continue to build fine quality single family homes that capture the beauty and magnificence of the Pacific Northwest offered at Soundview Estates,” stated Sterling Griffin, President and CEO of Harbor. “Lennar has already demonstrated that their vision of this community aligns with ours and we are pleased with their plans to complete the work Harbor began on these scenic lots at Soundview Estates.”About Lennar CorporationLennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LenX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com. About Harbor Custom Development, Inc.Harbor Custom Development, Inc., DBA Harbor Custom Homes®, is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington’s Puget Sound region.  Harbor has active or recently sold out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington.  Harbor Custom Development’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces.  Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations.  For more information on Harbor Custom Development, Inc., please visit www.harborcustomdev.com.Forward-Looking StatementsCertain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws.  Words such as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements.  These forward-looking statements are based upon current estimates and assumptions.  While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release.  These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission.  Thus, actual results could be materially different.  The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. CONTACT: Investor Relations Hanover International IR@harborcustomdev.com 866-744-0974
GlobeNewswire · 11/09 21:47
HCDI leads financial gainers, DNK and TCF among losers
Gainers: Harbor Custom Development (HCDI) +24%. eXp World Holdings (EXPI) +14%. Berkshire Hills Bancorp (BHLB) +13%. Colliers International Group (CIGI) +13%. Marathon Patent Group (MARA) +9%.Losers: Franklin Resources (BEN) -11%.
Seekingalpha · 10/27 17:13
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Institutional Holdings
Institutions: 9
Institutional Holdings: 376.20K
% Owned: 7.01%
Shares Outstanding: 5.37M
TypeInstitutionsShares
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376.20K
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About HCDI
Harbor Custom Development, Inc. is a real estate development company. The Company is focused on various aspects of the land development cycle including, land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington’s Puget Sound region. It is focused on the acquisition of land to develop property for the construction and sale of residential lots, home communities, and multi-family properties. It owns and controls Western Washington residential communities containing over 350 lots in various stages of development. Its properties in Kitsap County, Washington include Valley View Estates, a 49-lot subdivision; Settler’s Field, a 51-lot subdivision; Port Washington Park, a 36-lot subdivision, and Soundview Estates, a 240-lot subdivision.
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