D.R. Horton, Inc. (DHI)

In July 2025, D.R. Horton's stock jumped after its fiscal third-quarter report beat expectations, and the company announced increased sales incentives and price adjustments. In October 2025, the company reported its fourth-quarter and fiscal 2025 earnings and increased its quarterly dividend to $0.45 per share, but fourth-quarter earnings per share fell short of expectations. In January 2026, the stock experienced downgrades from analysts citing concerns over future earnings estimates and interest rates, while UBS maintained a 'Buy' rating but lowered its price target.

Demand for D.R. Horton's products and services exhibits seasonality, with quarterly results not necessarily representative of the entire fiscal year. The company adjusts sales incentives based on market factors, housing demand and supply, and sales contract cancellation trends. New home demand is impacted by affordability constraints and consumer sentiment, and sales incentives are expected to remain elevated. There was also a mention in early 2023 of preparing for a "slower Spring selling season."

D.R. Horton, Inc. is the largest homebuilder by volume in the United States since 2002, operating within the residential construction industry. The company acquires and develops land, constructs and sells single-family housing under brands like D.R. Horton, Emerald Homes, Express Homes, and Freedom Homes. It also provides mortgage financing and title agency services, develops multi-family and single-family rental properties, and holds a majority stake in Forestar Group Inc.

D.R. Horton operates across 125 markets in 36 states within the United States. Its geographical segments are organized into Northwest, Southwest, South Central, Southeast, East, and North.

A class-action lawsuit was filed in October and December 2025 against D.R. Horton Inc. and its mortgage lending subsidiary, DHI Mortgage Co., alleging deceptive home-selling and mortgage practices. Homebuyers claim their actual payments were higher than quoted, leading to financial hardship, but D.R. Horton has denied these allegations and plans to contest the lawsuit.

D.R. Horton, Inc. is heavily dominated by institutional owners, who hold approximately 82.03% to 90.6% of the company’s stock. Major institutional shareholders include Vanguard Group Inc., Capital World Investors, BlackRock, Inc., State Street Corp, and JPMorgan Chase & Co. Individual investors hold about a 15% stake, while insiders own approximately 0.67% of the shares.