Susan Maklari of Goldman Sachs sets a new price target for Toll Brothers Inc. at $124, indicating a potential increase of approximately 3.92%.
The grand opening of The Laurent, a luxury apartment community in Cambridge, Massachusetts, showcases Toll Brothers’ expansion into luxury apartment living.
Toll Brothers Inc. (NYSE:TOL) has seen a significant price range over the past year, with a market capitalization of around $12.25 billion, reflecting strong market presence and investor interest.
Susan Maklari of Goldman Sachs recently set a new price target for Toll Brothers Inc. (NYSE:TOL), a leading builder of luxury homes, at $124. This represents a potential increase of approximately 3.92% from its current price of $119.32, as reported on June 17, 2024, by StreetInsider. Toll Brothers is well-known for its high-quality, luxury residential homes and has recently expanded its portfolio through its rental subsidiary, Toll Brothers Apartment Living.
Toll Brothers Apartment Living, in partnership with PGIM, celebrated the grand opening of The Laurent, a luxury apartment community in Cambridge, Massachusetts. This new development is a seven-story, 525-unit luxury mid-rise multifamily complex, showcasing Toll Brothers’ commitment to luxury living. The construction of The Laurent was supported by a substantial $142 million construction loan facility provided by Wells Fargo Bank, N.A as an administrative agent, and BNY Mellon, highlighting the financial strength and partnerships Toll Brothers leverages to expand its luxury living spaces.
The grand opening of The Laurent, which took place last week, was marked by a ribbon-cutting ceremony attended by local officials and development partners, as well as a reception for current and prospective residents. This event not only celebrated the completion of the luxury apartment community but also marked the first occupants moving in since October 2023. John McCullough, President of Toll Brothers Apartment Living, emphasized The Laurent as a testament to their dedication to setting new standards in luxury apartment living, particularly in areas with growth potential.
Toll Brothers Inc. (NYSE:TOL) has experienced fluctuations in its stock price, with a recent decrease of $1.46 or about -1.21%, bringing the price to $119.32. Despite these fluctuations, the company has seen a significant price range over the past year, from a low of $68.08 to a high of $135.37, indicating a strong market presence and investor interest. With a market capitalization of around $12.25 billion and a trading volume of 1,072,002 shares, Toll Brothers continues to be a significant player in the luxury home building and apartment living market.
The setting of a new price target by Goldman Sachs reflects confidence in Toll Brothers’ growth trajectory, especially considering its recent ventures into luxury apartment living and strategic partnerships. The development and grand opening of The Laurent in Cambridge, Massachusetts, serve as a clear indicator of Toll Brothers’ commitment to expanding its luxury living offerings, potentially driving future growth and investor interest in the company.
