LGI Homes Falls as 529-Unit Project Faces Rate Risk
LGI Homes Inc. shares lost ground Friday as the builder’s push to expand in Florida and Texas landed against higher mortgage rates and weaker data for U.S. new-home sales. The stock changed hands in a range from $47.55 to $49.48, last quoted at $47.81, off 1.9%. Roughly 406,000 shares traded. Market cap was around $1.11 billion.