Sector Alpha Week of 2026-07-28
20-quarter listed-company comparison

Real Estate - Development Stocks

Real Estate - Development: Howard Hughes Holdings Inc. owns the largest revenue base; Belpointe PREP, LLC has the fastest current growth.

The industry itself · before any single company

How has Real Estate - Development moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 38% behind S&P 500. Earnings across its companies fell 30% on average over the last four reported quarters.

FADING · −1 in 4wPrice down, no fundamental support1 of 7 companies ahead of S&P 500 by 5% or more over three months

RS ↑1w · 4/7 >200d (+0) · 1/7 lead (−1) · EPS 1/6↑

200202620252024202320222021 237348 TRAILING 12-MONTH EPS · 100 AT THE START0100112Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Jun 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 30.0% on a year ago · 3 reportingSep 2023 · trailing 12-month earnings per share at 50, against 100 at the start · down 32.5% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 52, against 100 at the start · down 17.3% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 59, against 100 at the start · up 7.7% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 65, against 100 at the start · up 18.6% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 112, against 100 at the start · up 30.4% on a year ago · 4 reportingDec 2024 · trailing 12-month earnings per share at 95, against 100 at the start · up 28.0% on a year ago · 4 reportingMar 2025 · trailing 12-month earnings per share at 88, against 100 at the start · up 7.2% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 81, against 100 at the start · down 17.1% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 79, against 100 at the start · down 18.0% on a year ago · 4 reportingDec 2025 · trailing 12-month earnings per share at 61, against 100 at the start · down 32.8% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 58, against 100 at the start · down 51.2% on a year ago · 4 reportingMar 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingJun 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingSep 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingDec 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingMar 2023 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two58 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
200202620252024202320222021 237348 TRAILING 12-MONTH EPS · 100 AT THE START0100112Mar 24Mar 25Mar 26Jun 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 30.0% on a year ago · 3 reportingSep 2023 · trailing 12-month earnings per share at 50, against 100 at the start · down 32.5% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 52, against 100 at the start · down 17.3% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 59, against 100 at the start · up 7.7% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 65, against 100 at the start · up 18.6% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 112, against 100 at the start · up 30.4% on a year ago · 4 reportingDec 2024 · trailing 12-month earnings per share at 95, against 100 at the start · up 28.0% on a year ago · 4 reportingMar 2025 · trailing 12-month earnings per share at 88, against 100 at the start · up 7.2% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 81, against 100 at the start · down 17.1% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 79, against 100 at the start · down 18.0% on a year ago · 4 reportingDec 2025 · trailing 12-month earnings per share at 61, against 100 at the start · down 32.8% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 58, against 100 at the start · down 51.2% on a year ago · 4 reportingMar 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingJun 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingSep 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingDec 2022 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingMar 2023 · too few reporting — 2 of the Real Estate - Development filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two58No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Real Estate - Development, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy NarrowHow much of the industry is participating, how recently, and whether the movers score well.
Together1 of 7 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +10 vs the industry average
Down the cap ladder — bar is now, tick is four weeks ago
Large 0/20
Mid 1/2−1
Small 0/30

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 7 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Real Estate - Development outperforming S&P 500?

Real Estate - Development has underperformed S&P 500 by 15.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 0.6%. 4 of 10 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Century Communities, Inc. is the strongest against the sector itself at +11.3%.

+0.6%Sector vs S&P 500 · 13 weeks
-15.2%Sector vs S&P 500 · 52 weeks
4/10Stocks leading S&P 500
4/10Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Real Estate - Development has underperformed S&P 500 by 15.2% over 52 weeks and 0.6% over 13 weeks. 4 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 10 beat the sector itself. Howard Hughes Holdings Inc. leads with revenue of $1,511 million, based on 6 of 10 comparable companies through Mar 2026.

Is the Real Estate - Development sector outperforming S&P 500?

Real Estate - Development has underperformed S&P 500 by 15.2% over 52 weeks and 0.6% over 13 weeks. 4 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 10 beat the sector itself.

Which Real Estate - Development company is largest by revenue?

Howard Hughes Holdings Inc. leads with revenue of $1,511 million, based on 6 of 10 comparable companies through Mar 2026.

Which Real Estate - Development company is growing fastest?

Belpointe PREP, LLC has the fastest current revenue growth at 100%, across 6 of 10 comparable companies.

Which Real Estate - Development company has the strongest 4-Factor Sector Score?

AMREP Corporation ranks first at 62/100 with 76% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Real Estate - Development company reports the most CAPEX?

Corporación Inmobiliaria Vesta, S.A.B. de C.V. reports the largest latest CAPEX at $76 million, with 10 of 10 companies comparable.

Which Real Estate - Development company has the least gross debt?

AMREP Corporation has the lowest comparable gross debt at $0 million. Howard Hughes Holdings Inc. has the highest at $5,796 million.

Which Real Estate - Development company has the lowest comparable PEG?

AMREP Corporation has the lowest comparable Guarded PEG at 0.22, among 1 of 10 companies that pass the metric’s comparability rules.

How much history does this Real Estate - Development comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
10
complete canonical membership
Combined market value
$13.5B
Howard Hughes Holdings Inc.
Revenue growing
3/6
positive TTM year-on-year growth
Beating S&P 500
4/10
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
AMREP Corporation has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 76% evidence confidence.
Century Communities, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. AMREP Corporation · AXR

62.0/100 · Mixed-positive evidence · 76% evidence

Exact sum: 21.5 + 17.8 + 15.7 + 7 = 62

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.5/35Growth & earnings

Revenue -10.2% · PAT 16.7% · OPM change 14.9 pp

83% evidence

17.8/25Capital efficiency

ROCE 2.3% · debt/equity 0×

80% evidence

15.7/20Valuation

P/E 8.7× · PEG 0.22

65% evidence

7.0/20Relative strength

RS sector -5.3% · RS bench -9.3% · 1Y 5%

70% evidence

2. Century Communities, Inc. · CCS

56.9/100 · Thin evidence · provisional · 59% evidence

Exact sum: 15.3 + 12 + 9.6 + 20 = 56.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

15.3/35Growth & earnings

Revenue — · PAT — · OPM change -2.2 pp

45% evidence

12.0/25Capital efficiency

ROCE 1.3% · debt/equity 0.66×

80% evidence

9.6/20Valuation

P/E 15.7× · PEG —

15% evidence

20.0/20Relative strength

RS sector 11.3% · RS bench 6% · 1Y 23.5%

100% evidence

3. Forestar Group Inc. · FOR

56.9/100 · Thin evidence · provisional · 53% evidence

Exact sum: 18.2 + 15 + 10.4 + 13.3 = 56.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.2/35Growth & earnings

Revenue — · PAT — · OPM change -0.3 pp

45% evidence

15.0/25Capital efficiency

ROCE 1.7% · debt/equity 0.43×

80% evidence

10.4/20Valuation

P/E 9.5× · PEG —

15% evidence

13.3/20Relative strength

RS sector 5.9% · RS bench 1.2% · 1Y 16.7%

70% evidence

4. Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

56.2/100 · Thin evidence · provisional · 59% evidence

Exact sum: 17.8 + 15.8 + 11.1 + 11.5 = 56.2

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.8/35Growth & earnings

Revenue — · PAT — · OPM change -1.3 pp

45% evidence

15.8/25Capital efficiency

ROCE 1.4% · debt/equity 0.37×

80% evidence

11.1/20Valuation

P/E 7.5× · PEG —

15% evidence

11.5/20Relative strength

RS sector 6.4% · RS bench 2.2% · 1Y 24.8%

100% evidence

5. Five Point Holdings, LLC · FPH

44.7/100 · Thin evidence · provisional · 53% evidence

Exact sum: 15.3 + 9.1 + 11.5 + 8.8 = 44.7

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

15.3/35Growth & earnings

Revenue — · PAT — · OPM change -24.2 pp

45% evidence

9.1/25Capital efficiency

ROCE -0.2% · debt/equity 0.19×

80% evidence

11.5/20Valuation

P/E 7.4× · PEG —

15% evidence

8.8/20Relative strength

RS sector -2.8% · RS bench -7.4% · 1Y 2.8%

70% evidence

6. Logistic Properties of the Americas · LPA

41.3/100 · Mixed-negative evidence · 66% evidence

Exact sum: 17.8 + 11 + 8.9 + 3.6 = 41.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.8/35Growth & earnings

Revenue 17.8% · PAT -75% · OPM change 6.3 pp

83% evidence

11.0/25Capital efficiency

ROCE 1.3% · debt/equity 1.01×

80% evidence

8.9/20Valuation

P/E 33× · PEG —

15% evidence

3.6/20Relative strength

RS sector -15.8% · RS bench -24.3% · 1Y -53.6%

70% evidence

7. Belpointe PREP, LLC · OZ

38.0/100 · Thin evidence · provisional · 56% evidence

Exact sum: 20.3 + 4.3 + 10 + 3.4 = 38

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

20.3/35Growth & earnings

Revenue 100% · PAT — · OPM change 125.5 pp

62% evidence

4.3/25Capital efficiency

ROCE -1.1% · debt/equity 1.04×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

3.4/20Relative strength

RS sector -19.6% · RS bench -23.7% · 1Y -29.1%

70% evidence

8. Smith Douglas Homes Corp. · SDHC

36.0/100 · Mixed-negative evidence · 66% evidence

Exact sum: 7.2 + 12.8 + 10 + 6 = 36

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

7.2/35Growth & earnings

Revenue -5.8% · PAT -52.3% · OPM change -6.9 pp

83% evidence

12.8/25Capital efficiency

ROCE 1.1% · debt/equity 0.16×

80% evidence

10.0/20Valuation

P/E 13.5× · PEG —

15% evidence

6.0/20Relative strength

RS sector -7.6% · RS bench -12.6% · 1Y -20%

70% evidence

9. Howard Hughes Holdings Inc. · HHH

32.9/100 · Adverse evidence · 72% evidence

Exact sum: 8.3 + 8.5 + 9.3 + 6.8 = 32.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

8.3/35Growth & earnings

Revenue -15.7% · PAT -62.5% · OPM change -2.5 pp

83% evidence

8.5/25Capital efficiency

ROCE 0.6% · debt/equity 1.5×

80% evidence

9.3/20Valuation

P/E 31× · PEG —

15% evidence

6.8/20Relative strength

RS sector -11.9% · RS bench -16.2% · 1Y -0.8%

100% evidence

10. Sky Harbour Group Corporation · SKYH

49.3/100 · Thin evidence · provisional · 40% evidence

Exact sum: 18.6 + 8.4 + 8.5 + 13.8 = 49.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.6/35Growth & earnings

Revenue 63.2% · PAT — · OPM change —

24% evidence

8.4/25Capital efficiency

ROCE — · debt/equity 2.18×

34% evidence

8.5/20Valuation

P/E 240.8× · PEG —

15% evidence

13.8/20Relative strength

RS sector 7.3% · RS bench 2.3% · 1Y 12.6%

100% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Howard Hughes Holdings Inc. has the highest Revenue among the 10 Real Estate - Development companies compared here, at $1,511 million. Smith Douglas Homes Corp. is next at $952 million. Belpointe PREP, LLC has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Howard Hughes Holdings Inc. is the scale leader at $1,511 million, 58.7% ahead of Smith Douglas Homes Corp.. Belpointe PREP, LLC's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 175% from a $11 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderHoward Hughes Holdings Inc. · $1,511 million
Gap58.7% versus #2 · Smith Douglas Homes Corp.
Persistence6/8 recent comparable periods
Coverage6/10 companies · 177 observations

Investor read: Howard Hughes Holdings Inc. is the scale benchmark; Belpointe PREP, LLC is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Howard Hughes Holdings Inc.'s growth falls below Belpointe PREP, LLC's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Howard Hughes Holdings Inc. HHH$1.5B
2Smith Douglas Homes Corp. SDHC$952M
3AMREP Corporation AXR$53M
4Logistic Properties of the Americas LPA$53M
5Sky Harbour Group Corporation SKYH$31M
Revenue growthfastest growers
1Belpointe PREP, LLC OZ100%
2Sky Harbour Group Corporation SKYH63%
3Logistic Properties of the Americas LPA18%
4Smith Douglas Homes Corp. SDHC-5.8%
5AMREP Corporation AXR-10%
Revenue · company comparison
6/10 level · 6/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Century Communities, Inc. CCS$790M-13%Jun 2026
Forestar Group Inc. FOR$374M6.6%Jun 2026
Howard Hughes Holdings Inc. HHH$236M19%Mar 2026
Smith Douglas Homes Corp. SDHC$206M-8.4%Mar 2026
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX$77M15%Jun 2026
AMREP Corporation AXR$15M88%Mar 2026
Five Point Holdings, LLC FPH$14M7.7%Jun 2026
Logistic Properties of the Americas LPA$14M17%Mar 2026
Sky Harbour Group Corporation SKYH$9M50%Mar 2026
Belpointe PREP, LLC OZ$4M100%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

AMREP Corporation · AXR

$11M
$16M
$9M
$24M
$11M
$16M
$9M
$13M
$10M
$9M
$13M
$20M
$19M
$12M
$8M
$11M
$18M
$9M
$15M

Belpointe PREP, LLC · OZ

$0M
$0M
$0M
$0M
$0M
$0M
$0M
$1M
$0M
$1M
$0M
$0M
$1M
$1M
$2M
$2M
$2M
$3M
$4M

Century Communities, Inc. · CCS

$958M
$1.2B
$1.0B
$1.2B
$1.1B
$1.2B
$753M
$844M
$889M
$1.2B
$949M
$1.0B
$1.1B
$1.3B
$903M
$1.0B
$980M
$1.2B
$790M

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

$161M
$43M
$178M
$50M
$214M
$61M
$63M
$64M
$65M
$67M
$67M
$72M
$76M
$77M

Five Point Holdings, LLC · FPH

$21M
$182M
$5M
$5M
$15M
$17M
$6M
$21M
$66M
$119M
$10M
$51M
$17M
$160M
$13M
$7M
$13M
$76M
$14M

Forestar Group Inc. · FOR

$419M
$408M
$422M
$309M
$381M
$217M
$302M
$369M
$550M
$306M
$334M
$318M
$551M
$250M
$351M
$391M
$671M
$273M
$374M

Howard Hughes Holdings Inc. · HHH

$640M
$482M
$196M
$223M
$228M
$313M
$156M
$283M
$327M
$984M
$199M
$261M
$390M
$624M
$236M

Logistic Properties of the Americas · LPA

$8M
$8M
$9M
$10M
$10M
$12M
$10M
$11M
$11M
$11M
$12M
$12M
$13M
$14M
$14M

Sky Harbour Group Corporation · SKYH

$0M
$0M
$0M
$0M
$0M
$1M
$1M
$2M
$3M
$2M
$2M
$4M
$4M
$5M
$6M
$7M
$7M
$8M
$9M

Smith Douglas Homes Corp. · SDHC

$138M
$122M
$155M
$170M
$206M
$223M
$168M
$182M
$198M
$217M
$189M
$221M
$278M
$287M
$225M
$224M
$262M
$260M
$206M

Revenue growth · reported quarter history

AMREP Corporation · AXR

26%
0.0%
0.0%
0.0%
-46%
-9.1%
-44%
44%
54%
90%
33%
-38%
-45%
-5.3%
-25%
88%

Belpointe PREP, LLC · OZ

-100%
0.0%
100%
200%
100%

Century Communities, Inc. · CCS

12%
19%
-2.3%
-26%
-28%
-22%
2.3%
26%
23%
28%
5.6%
-4.9%
-3.7%
-14%
-3.1%
-13%

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

11%
20%
22%
-70%
9.8%
6.4%
13%
17%
15%

Five Point Holdings, LLC · FPH

-38%
-29%
-91%
20%
320%
340%
600%
67%
143%
-74%
34%
30%
-86%
-24%
-53%
7.7%

Forestar Group Inc. · FOR

-1.3%
-9.1%
-47%
-28%
19%
44%
41%
11%
-14%
0.2%
-18%
5.1%
23%
22%
9.2%
6.6%

Howard Hughes Holdings Inc. · HHH

-64%
-35%
-20%
27%
43%
214%
28%
-7.8%
19%
-37%
19%

Logistic Properties of the Americas · LPA

25%
50%
11%
10%
10%
-8.3%
20%
9.1%
18%
27%
17%

Sky Harbour Group Corporation · SKYH

100%
100%
100%
33%
150%
200%
75%
75%
60%
50%

Smith Douglas Homes Corp. · SDHC

49%
83%
8.4%
7.1%
-3.9%
-2.7%
13%
21%
40%
32%
19%
1.4%
-5.8%
-9.4%
-8.4%
02 · compare level, then change

Operating Economics & Margin Trend

Corporación Inmobiliaria Vesta, S.A.B. de C.V. has the highest OPM among the 10 Real Estate - Development companies compared here, at 77.6%. Logistic Properties of the Americas is next at 56.2%. Belpointe PREP, LLC has the highest Margin change at +125.5 percentage points, so level and change sit with different companies.

What the numbers say: Corporación Inmobiliaria Vesta, S.A.B. de C.V. leads opm at 77.6%; Belpointe PREP, LLC leads margin change at +125.5 percentage points.

LeaderCorporación Inmobiliaria Vesta, S.A.B. de C.V. · 77.6%
Gap38.1% versus #2 · Logistic Properties of the Americas
Persistence4/8 recent comparable periods
Coverage9/10 companies · 161 observations

Investor read: Corporación Inmobiliaria Vesta, S.A.B. de C.V. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX78%
2Logistic Properties of the Americas LPA56%
3Howard Hughes Holdings Inc. HHH22%
4AMREP Corporation AXR21%
5Forestar Group Inc. FOR11%
Margin changefastest expanders
1Belpointe PREP, LLC OZ+125.5 pp
2AMREP Corporation AXR+14.9 pp
3Logistic Properties of the Americas LPA+6.3 pp
4Forestar Group Inc. FOR−0.3 pp
5Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX−1.3 pp
Operating margin · company comparison
9/10 level · 9/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX78%−1.3 ppJun 2026
Logistic Properties of the Americas LPA56%+6.3 ppMar 2026
Howard Hughes Holdings Inc. HHH22%−2.5 ppMar 2026
AMREP Corporation AXR21%+14.9 ppMar 2026
Forestar Group Inc. FOR11%−0.3 ppJun 2026
Century Communities, Inc. CCS4.2%−2.2 ppJun 2026
Smith Douglas Homes Corp. SDHC2.2%−6.9 ppMar 2026
Five Point Holdings, LLC FPH-71%−24.2 ppJun 2026
Belpointe PREP, LLC OZ-133%+125.5 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

AMREP Corporation · AXR

17%
27%
12%
60%
24%
28%
-5.2%
-5.8%
20%
12%
-1.2%
24%
26%
26%
5.7%
32%
34%
12%
21%

Belpointe PREP, LLC · OZ

-75%
-761%
-754%
-526%
-698%
-564%
-550%
-708%
-780%
-793%
-420%
-388%
-259%
-250%
-193%
-214%
-133%

Century Communities, Inc. · CCS

17%
17%
19%
19%
16%
10%
5.6%
8.3%
13%
11%
9.9%
11%
10%
9.4%
6.4%
6.4%
6.2%
11%
4.2%

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

80%
78%
80%
80%
81%
78%
78%
80%
80%
65%
79%
76%
78%
67%
79%
76%
77%
72%
78%

Five Point Holdings, LLC · FPH

-49%
28%
-734%
-220%
-37%
-32%
-203%
-13%
17%
25%
-79%
50%
-2.3%
31%
-47%
-164%
-59%
25%
-71%

Forestar Group Inc. · FOR

13%
13%
15%
16%
17%
11%
11%
16%
16%
15%
16%
13%
18%
7.6%
12%
11%
16%
6.8%
11%

Howard Hughes Holdings Inc. · HHH

25%
28%
7.6%
0.3%
26%
32%
8.1%
31%
61%
27%
24%
26%
49%
4.2%
22%

Logistic Properties of the Americas · LPA

68%
74%
73%
76%
61%
59%
-355%
43%
44%
39%
50%
44%
51%
56%
56%

Smith Douglas Homes Corp. · SDHC

11%
9.5%
18%
19%
19%
18%
17%
17%
17%
14%
12%
12%
14%
11%
9.1%
7.7%
7.2%
6.0%
2.2%

Margin change · reported quarter history

AMREP Corporation · AXR

+31.2 pp
+6.9 pp
+0.6 pp
−17.5 pp
−65.3 pp
−4.3 pp
−15.8 pp
+4.0 pp
+29.7 pp
+6.4 pp
+14.5 pp
+6.9 pp
+7.8 pp
+8.3 pp
−14.5 pp
+14.9 pp

Belpointe PREP, LLC · OZ

−736.1 pp
−450.8 pp
+334.9 pp
+196.6 pp
+203.2 pp
−182.1 pp
−82.6 pp
−437.3 pp
−242.4 pp
+288.6 pp
+392.8 pp
+742.8 pp
+542.4 pp
+226.4 pp
+174.0 pp
+125.5 pp

Century Communities, Inc. · CCS

+4.2 pp
−1.4 pp
−7.4 pp
−13.1 pp
−10.6 pp
−2.7 pp
+0.6 pp
+4.3 pp
+2.3 pp
−2.7 pp
−1.2 pp
−3.5 pp
−4.2 pp
−3.9 pp
+1.2 pp
−2.2 pp

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

−0.2 pp
+1.2 pp
+0.5 pp
−1.8 pp
−0.4 pp
−1.4 pp
−13.5 pp
+0.7 pp
−4.0 pp
−1.5 pp
+2.1 pp
+0.4 pp
+0.9 pp
−1.1 pp
+4.9 pp
−1.3 pp

Five Point Holdings, LLC · FPH

−0.6 pp
+12.5 pp
−59.5 pp
+530.7 pp
+206.2 pp
+54.0 pp
+56.7 pp
+124.1 pp
+63.7 pp
−19.4 pp
+6.6 pp
+32.4 pp
−213.9 pp
−56.2 pp
−6.4 pp
−24.2 pp

Forestar Group Inc. · FOR

+3.7 pp
+3.8 pp
−1.3 pp
−3.8 pp
−0.2 pp
−1.0 pp
+3.3 pp
+4.9 pp
−2.6 pp
+1.9 pp
−7.1 pp
−4.5 pp
−2.5 pp
−2.1 pp
−0.8 pp
−0.3 pp

Howard Hughes Holdings Inc. · HHH

+1.4 pp
+3.8 pp
+0.5 pp
+30.9 pp
+34.6 pp
−5.6 pp
+15.9 pp
−5.2 pp
−12.0 pp
−22.3 pp
−2.5 pp

Logistic Properties of the Americas · LPA

−7.7 pp
−15.4 pp
−428.2 pp
−33.4 pp
−17.1 pp
−19.2 pp
+404.9 pp
+0.7 pp
+7.7 pp
+16.3 pp
+6.3 pp

Smith Douglas Homes Corp. · SDHC

+7.7 pp
+8.8 pp
−0.9 pp
−2.0 pp
−1.2 pp
−4.4 pp
−5.5 pp
−4.7 pp
−3.1 pp
−3.3 pp
−2.5 pp
−4.6 pp
−7.0 pp
−4.6 pp
−6.9 pp
03 · compare level, then change

Profit Scale & Acceleration

Howard Hughes Holdings Inc. has the highest Net profit among the 10 Real Estate - Development companies compared here, at $120 million. Smith Douglas Homes Corp. is next at $53 million. AMREP Corporation has the highest Profit growth at 16.7%, so level and change sit with different companies. Its Net profit series carries 15 reported observations across the 20-quarter window.

What the numbers say: Howard Hughes Holdings Inc. leads with $120 million of TTM profit, 126.4% above Smith Douglas Homes Corp.. AMREP Corporation shows 16.7% growth from a $14 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderHoward Hughes Holdings Inc. · $120 million
Gap126.4% versus #2 · Smith Douglas Homes Corp.
Persistence4/8 recent comparable periods
Coverage6/10 companies · 182 observations

Investor read: Howard Hughes Holdings Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Howard Hughes Holdings Inc. HHH$120M
2Smith Douglas Homes Corp. SDHC$53M
3AMREP Corporation AXR$14M
4Logistic Properties of the Americas LPA$7M
5Sky Harbour Group Corporation SKYH$7M
Profit growthfastest growers
1AMREP Corporation AXR17%
2Smith Douglas Homes Corp. SDHC-52%
3Howard Hughes Holdings Inc. HHH-63%
4Logistic Properties of the Americas LPA-75%
Net profit · company comparison
6/10 level · 4/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX$101M573%Jun 2026
Forestar Group Inc. FOR$32M0.0%Jun 2026
Century Communities, Inc. CCS$24M-38%Jun 2026
Howard Hughes Holdings Inc. HHH$8M-27%Mar 2026
Smith Douglas Homes Corp. SDHC$4M-79%Mar 2026
AMREP Corporation AXR$3M200%Mar 2026
Five Point Holdings, LLC FPH$-5M-108%Jun 2026
Logistic Properties of the Americas LPA$-8M-900%Mar 2026
Sky Harbour Group Corporation SKYH$-9M250%Mar 2026
Belpointe PREP, LLC OZ$-11MMar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

AMREP Corporation · AXR

$2M
$3M
$1M
$10M
$2M
$4M
$17M
$0M
$1M
$1M
$0M
$4M
$4M
$3M
$1M
$4M
$5M
$2M
$3M

Belpointe PREP, LLC · OZ

$0M
$-1M
$-2M
$-2M
$-1M
$-3M
$-3M
$-4M
$-3M
$-4M
$-4M
$-5M
$-7M
$-8M
$-9M
$-8M
$-12M
$-12M
$-11M

Century Communities, Inc. · CCS

$114M
$165M
$142M
$159M
$144M
$79M
$33M
$51M
$83M
$91M
$64M
$84M
$83M
$103M
$39M
$35M
$37M
$36M
$24M

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

$5M
$46M
$49M
$54M
$62M
$79M
$55M
$71M
$76M
$114M
$125M
$109M
$52M
$-63M
$15M
$28M
$25M
$174M
$101M

Five Point Holdings, LLC · FPH

$-8M
$47M
$-37M
$-11M
$-10M
$22M
$-10M
$51M
$14M
$59M
$6M
$38M
$12M
$121M
$61M
$9M
$56M
$59M
$-5M

Forestar Group Inc. · FOR

$44M
$41M
$48M
$40M
$51M
$21M
$27M
$47M
$72M
$38M
$45M
$39M
$82M
$17M
$32M
$33M
$87M
$15M
$32M

Howard Hughes Holdings Inc. · HHH

$108M
$53M
$-23M
$-19M
$32M
$54M
$-21M
$47M
$97M
$165M
$11M
$-12M
$119M
$5M
$8M

Logistic Properties of the Americas · LPA

$0M
$-3M
$11M
$-5M
$2M
$-2M
$-46M
$12M
$5M
$10M
$1M
$-1M
$5M
$11M
$-8M

Sky Harbour Group Corporation · SKYH

$-4M
$-5M
$-20M
$10M
$-3M
$-1M
$-9M
$-2M
$-2M
$-13M
$-21M
$4M
$-21M
$-16M
$-9M
$14M
$-5M
$7M
$-9M

Smith Douglas Homes Corp. · SDHC

$20M
$11M
$28M
$32M
$38M
$41M
$29M
$31M
$34M
$30M
$20M
$25M
$38M
$29M
$19M
$16M
$16M
$17M
$4M

Profit growth · reported quarter history

AMREP Corporation · AXR

150%
0.0%
33%
1,600%
-100%
-50%
-75%
-100%
300%
200%
0.0%
25%
-33%
200%

Century Communities, Inc. · CCS

35%
26%
-52%
-77%
-68%
-42%
15%
94%
65%
0.0%
13%
-39%
-58%
-55%
-65%
-38%

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

-50%
1,140%
72%
12%
31%
23%
44%
127%
54%
-32%
-155%
-88%
-74%
-52%
573%

Five Point Holdings, LLC · FPH

-53%
168%
-25%
-14%
105%
917%
-76%
367%
-51%
-108%

Forestar Group Inc. · FOR

150%
16%
-49%
-44%
18%
41%
81%
67%
-17%
14%
-55%
-29%
-15%
6.1%
-12%
0.0%

Howard Hughes Holdings Inc. · HHH

-70%
1.9%
203%
206%
-126%
23%
-97%
-27%

Logistic Properties of the Americas · LPA

-518%
150%
-108%
0.0%
10%
-900%

Sky Harbour Group Corporation · SKYH

-120%
250%

Smith Douglas Homes Corp. · SDHC

90%
273%
3.6%
-3.1%
-11%
-27%
-31%
-19%
12%
-3.3%
-5.0%
-36%
-58%
-41%
-79%
04 · compare level, then change

Capacity Spending & Returns On It

Corporación Inmobiliaria Vesta, S.A.B. de C.V. has the highest CAPEX among the 10 Real Estate - Development companies compared here, at $76 million. Howard Hughes Holdings Inc. is next at $38 million. Sky Harbour Group Corporation has the highest CAPEX intensity at 355.6%, so level and change sit with different companies.

What the numbers say: Corporación Inmobiliaria Vesta, S.A.B. de C.V. reports $76 million of CAPEX; Sky Harbour Group Corporation has the highest covered intensity at 355.6%. Coverage is only 10 of 10 companies and 173 reported observations, so this is partial evidence—not a complete sector rank.

LeaderCorporación Inmobiliaria Vesta, S.A.B. de C.V. · $76 million
Gap100% versus #2 · Howard Hughes Holdings Inc.
Persistence8/8 recent comparable periods
Coverage10/10 companies · 173 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX$76M
2Howard Hughes Holdings Inc. HHH$38M
3Sky Harbour Group Corporation SKYH$32M
4Belpointe PREP, LLC OZ$10M
5Century Communities, Inc. CCS$7M
CAPEX intensityhighest reinvestment intensity
1Sky Harbour Group Corporation SKYH356%
2Belpointe PREP, LLC OZ250%
3Logistic Properties of the Americas LPA43%
4Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX21%
5Howard Hughes Holdings Inc. HHH16%
Capital expenditure · company comparison
10/10 level · 10/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyCAPEXCAPEX intensityReported
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX$76M21%Jun 2026
Howard Hughes Holdings Inc. HHH$38M16%Mar 2026
Sky Harbour Group Corporation SKYH$32M356%Mar 2026
Belpointe PREP, LLC OZ$10M250%Mar 2026
Century Communities, Inc. CCS$7M0.9%Jun 2026
Logistic Properties of the Americas LPA$6M43%Mar 2026
Smith Douglas Homes Corp. SDHC$1M0.5%Mar 2026
Forestar Group Inc. FOR$0M0.0%Jun 2026
Five Point Holdings, LLC FPH$0M0.0%Jun 2026
AMREP Corporation AXR$0M0.0%Mar 2026
Full 20-quarter history · every available company

CAPEX · reported quarter history

AMREP Corporation · AXR

$0M
$0M
$1M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M

Belpointe PREP, LLC · OZ

$2M
$28M
$4M
$19M
$10M
$34M
$21M
$30M
$44M
$44M
$38M
$41M
$31M
$27M
$21M
$24M
$12M
$6M
$10M

Century Communities, Inc. · CCS

$2M
$5M
$6M
$3M
$7M
$5M
$5M
$4M
$6M
$29M
$6M
$18M
$6M
$9M
$3M
$6M
$11M
$8M
$7M
$7M

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

$30M
$30M
$109M
$0M
$74M
$0M
$54M
$35M
$106M
$2M
$33M
$42M
$88M
$59M
$57M
$111M
$16M
$76M

Five Point Holdings, LLC · FPH

$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M

Forestar Group Inc. · FOR

$1M
$2M
$1M
$1M
$0M
$0M
$0M
$1M
$1M
$0M
$1M
$1M
$1M
$1M
$1M
$1M
$0M
$0M
$0M

Howard Hughes Holdings Inc. · HHH

$97M
$85M
$94M
$76M
$67M
$58M
$68M
$66M
$92M
$67M
$44M
$33M
$57M
$38M

Logistic Properties of the Americas · LPA

$10M
$5M
$6M
$10M
$8M
$6M
$5M
$2M
$3M
$3M
$7M
$11M
$7M
$6M

Sky Harbour Group Corporation · SKYH

$3M
$10M
$12M
$9M
$15M
$10M
$9M
$12M
$16M
$16M
$9M
$9M
$37M
$23M
$24M
$22M
$21M
$18M
$32M

Smith Douglas Homes Corp. · SDHC

$0M
$0M
$0M
$0M
$0M
$0M
$1M
$0M
$0M
$2M
$1M
$1M
$1M
$2M
$1M
$1M
$1M

CAPEX intensity · reported quarter history

AMREP Corporation · AXR

0.0%
0.0%
11%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%

Belpointe PREP, LLC · OZ

3,000%
4,400%
3,100%
2,700%
1,050%
1,200%
600%
200%
250%

Century Communities, Inc. · CCS

0.2%
0.4%
0.6%
0.3%
0.6%
0.4%
0.7%
0.5%
0.7%
2.4%
0.6%
1.7%
0.5%
0.7%
0.3%
0.6%
1.1%
0.6%
0.9%

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

19%
0.0%
0.0%
108%
0.9%
54%
66%
135%
88%
79%
146%
21%

Five Point Holdings, LLC · FPH

0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%

Forestar Group Inc. · FOR

0.2%
0.5%
0.2%
0.3%
0.0%
0.0%
0.0%
0.3%
0.2%
0.0%
0.3%
0.3%
0.2%
0.3%
0.3%
0.1%
0.0%
0.0%

Howard Hughes Holdings Inc. · HHH

20%
43%
42%
33%
21%
37%
24%
20%
9.3%
34%
17%
8.5%
9.1%
16%

Logistic Properties of the Americas · LPA

125%
56%
60%
100%
67%
60%
46%
18%
27%
25%
58%
85%
50%
43%

Sky Harbour Group Corporation · SKYH

1,000%
900%
600%
533%
800%
450%
225%
925%
460%
400%
314%
300%
225%
356%

Smith Douglas Homes Corp. · SDHC

0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.5%
0.0%
0.0%
0.9%
0.4%
0.3%
0.4%
0.9%
0.4%
0.4%
0.5%
Annual capital allocation · 6-year view
10/10 capacity base · 10/10 OCF · 10/10 CAPEX · 10/10 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

AMREP Corporation · AXR

$14M
$9M
$14M
$13M
$15M

Belpointe PREP, LLC · OZ

$124M
$198M
$354M
$485M
$532M

Operating cash flow · fiscal-year history

AMREP Corporation · AXR

$13M
$15M
$6M
$11M
$10M

Belpointe PREP, LLC · OZ

$-2M
$-7M
$-7M
$-14M
$-25M

Forestar Group Inc. · FOR

$-303M
$109M
$364M
$-158M
$-198M

CAPEX · reported cash flow · fiscal-year history

AMREP Corporation · AXR

$0M
$1M
$0M
$0M
$1M

Belpointe PREP, LLC · OZ

$60M
$67M
$145M
$138M
$62M

Free cash flow · fiscal-year history

AMREP Corporation · AXR

$13M
$14M
$6M
$10M
$10M

Belpointe PREP, LLC · OZ

$-62M
$-74M
$-152M
$-152M
$-87M

Forestar Group Inc. · FOR

$-305M
$105M
$363M
$-161M
$-200M
05 · compare level, then change

Debt Load & Balance-Sheet Headroom

AMREP Corporation has the lowest Gross debt among the 10 Real Estate - Development companies compared here, at $0 million. Smith Douglas Homes Corp. is next at $69 million. The same company also holds the lowest Net debt, at $50 million net cash. 10 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: AMREP Corporation has the clearest covered balance-sheet capacity with $50 million net cash and gross debt of $0 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderAMREP Corporation · $0 million
Gap100% versus #2 · Smith Douglas Homes Corp.
Persistence8/8 recent comparable periods
Coverage10/10 companies · 184 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1AMREP Corporation AXR$0M
2Smith Douglas Homes Corp. SDHC$69M
3Belpointe PREP, LLC OZ$277M
4Logistic Properties of the Americas LPA$322M
5Sky Harbour Group Corporation SKYH$359M
Net debtlowest net debt
1AMREP Corporation AXR$-50M
2Smith Douglas Homes Corp. SDHC$41M
3Five Point Holdings, LLC FPH$96M
4Belpointe PREP, LLC OZ$257M
5Sky Harbour Group Corporation SKYH$278M
Debt and balance-sheet capacity · company comparison
10/10 level · 10/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
Howard Hughes Holdings Inc. HHH$5.8B$4.0BMar 2026
Century Communities, Inc. CCS$1.7B$1.6BJun 2026
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX$1.2B$774MJun 2026
Forestar Group Inc. FOR$794M$399MJun 2026
Five Point Holdings, LLC FPH$444M$96MJun 2026
Sky Harbour Group Corporation SKYH$359M$278MMar 2026
Logistic Properties of the Americas LPA$322M$294MMar 2026
Belpointe PREP, LLC OZ$277M$257MMar 2026
Smith Douglas Homes Corp. SDHC$69M$41MMar 2026
AMREP Corporation AXR$0M$-50MMar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

AMREP Corporation · AXR

$6M
$6M
$6M
$2M
$2M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M

Belpointe PREP, LLC · OZ

$0M
$13M
$11M
$0M
$0M
$7M
$7M
$7M
$1M
$25M
$88M
$124M
$148M
$181M
$207M
$232M
$255M
$262M
$277M

Century Communities, Inc. · CCS

$1.2B
$1.3B
$1.2B
$1.4B
$1.4B
$1.2B
$1.2B
$1.2B
$1.2B
$1.3B
$1.3B
$1.4B
$1.8B
$368M
$1.6B
$1.6B
$1.7B
$341M
$1.5B
$1.7B

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

$935M
$935M
$934M
$934M
$932M
$932M
$930M
$930M
$929M
$916M
$915M
$914M
$848M
$848M
$802M
$901M
$1.4B
$1.3B
$1.2B
$1.2B

Five Point Holdings, LLC · FPH

$619M
$619M
$620M
$620M
$620M
$621M
$621M
$621M
$622M
$622M
$523M
$524M
$525M
$526M
$527M
$527M
$445M
$443M
$444M
$444M

Forestar Group Inc. · FOR

$705M
$705M
$705M
$706M
$706M
$706M
$707M
$707M
$695M
$705M
$706M
$706M
$706M
$807M
$873M
$873M
$803M
$793M
$794M
$794M

Howard Hughes Holdings Inc. · HHH

$4.7B
$4.7B
$4.8B
$4.8B
$5.2B
$5.2B
$5.4B
$5.6B
$5.3B
$5.1B
$5.3B
$5.2B
$5.3B
$5.1B
$5.8B

Logistic Properties of the Americas · LPA

$189M
$189M
$209M
$209M
$235M
$273M
$268M
$276M
$271M
$279M
$279M
$290M
$294M
$309M
$322M

Sky Harbour Group Corporation · SKYH

$0M
$161M
$161M
$161M
$162M
$162M
$162M
$173M
$173M
$172M
$171M
$171M
$171M
$170M
$170M
$169M
$169M
$183M
$359M

Smith Douglas Homes Corp. · SDHC

$72M
$72M
$15M
$15M
$10M
$10M
$76M
$76M
$4M
$4M
$3M
$3M
$43M
$74M
$54M
$44M
$69M

Net debt · reported quarter history

AMREP Corporation · AXR

$-17M
$-24M
$-21M
$-14M
$-14M
$-13M
$-12M
$-20M
$-22M
$-22M
$-23M
$-30M
$-40M
$-40M
$-37M
$-39M
$-49M
$-45M
$-50M

Belpointe PREP, LLC · OZ

$-24M
$-179M
$-161M
$-147M
$-139M
$-136M
$-109M
$-56M
$-15M
$5M
$59M
$99M
$124M
$156M
$184M
$207M
$225M
$238M
$257M

Century Communities, Inc. · CCS

$722M
$1.0B
$995M
$1.3B
$1.3B
$920M
$770M
$872M
$1.0B
$1.1B
$1.2B
$1.3B
$1.6B
$218M
$1.5B
$1.5B
$1.5B
$232M
$1.5B
$1.6B

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

$561M
$482M
$591M
$636M
$661M
$793M
$879M
$879M
$521M
$415M
$470M
$537M
$567M
$664M
$753M
$836M
$860M
$940M
$971M
$774M

Five Point Holdings, LLC · FPH

$428M
$354M
$416M
$492M
$534M
$489M
$514M
$428M
$404M
$268M
$290M
$307M
$300M
$95M
$-1M
$70M
$94M
$17M
$111M
$96M

Forestar Group Inc. · FOR

$551M
$542M
$471M
$560M
$441M
$490M
$420M
$306M
$79M
$246M
$290M
$347M
$225M
$675M
$699M
$684M
$424M
$581M
$432M
$399M

Howard Hughes Holdings Inc. · HHH

$3.8B
$3.8B
$4.2B
$4.2B
$4.8B
$4.5B
$5.0B
$5.1B
$4.9B
$4.5B
$4.8B
$3.8B
$3.8B
$4.5B
$4.0B

Logistic Properties of the Americas · LPA

$172M
$172M
$194M
$194M
$223M
$238M
$227M
$228M
$240M
$250M
$252M
$264M
$276M
$282M
$294M

Sky Harbour Group Corporation · SKYH

$-1M
$-43M
$94M
$119M
$144M
$121M
$89M
$154M
$136M
$100M
$69M
$49M
$97M
$76M
$86M
$137M
$133M
$146M
$278M

Smith Douglas Homes Corp. · SDHC

$47M
$47M
$-15M
$-15M
$-1M
$-1M
$66M
$56M
$-29M
$-13M
$-21M
$-19M
$30M
$57M
$39M
$31M
$41M
06 · compare level, then change

Return On Capital Employed

AMREP Corporation has the highest ROCE among the 10 Real Estate - Development companies compared here, at 2.3%. Forestar Group Inc. is next at 1.7%. The same company also holds the highest ROCE change, at +1.9 percentage points. 9 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: AMREP Corporation leads ROCE at 2.3%, 0.6 percentage points above Forestar Group Inc.. AMREP Corporation has the strongest latest improvement at +1.9 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderAMREP Corporation · 2.3%
Gap35.3% versus #2 · Forestar Group Inc.
Persistence6/8 recent comparable periods
Coverage9/10 companies · 165 observations

Investor read: AMREP Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1AMREP Corporation AXR2.3%
2Forestar Group Inc. FOR1.7%
3Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX1.4%
4Century Communities, Inc. CCS1.3%
5Logistic Properties of the Americas LPA1.3%
ROCE changefastest improvers
1AMREP Corporation AXR+1.9 pp
2Logistic Properties of the Americas LPA+0.3 pp
3Five Point Holdings, LLC FPH+0.2 pp
4Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX+0.1 pp
5Forestar Group Inc. FOR0.0 pp
Return on capital · company comparison
9/10 level · 9/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
AMREP Corporation AXR2.3%+1.9 ppMar 2026
Forestar Group Inc. FOR1.7%0.0 ppJun 2026
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX1.4%+0.1 ppJun 2026
Century Communities, Inc. CCS1.3%−0.1 ppJun 2026
Logistic Properties of the Americas LPA1.3%+0.3 ppMar 2026
Smith Douglas Homes Corp. SDHC1.1%−4.3 ppMar 2026
Howard Hughes Holdings Inc. HHH0.6%0.0 ppMar 2026
Five Point Holdings, LLC FPH-0.2%+0.2 ppJun 2026
Belpointe PREP, LLC OZ-1.1%−0.1 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

AMREP Corporation · AXR

1.9%
4.6%
1.2%
16%
2.8%
4.7%
-0.5%
-0.7%
2.0%
1.0%
-0.1%
4.1%
4.3%
2.6%
0.4%
2.9%
4.8%
0.9%
2.3%

Belpointe PREP, LLC · OZ

-0.4%
-1.0%
-1.2%
-1.2%
-0.8%
-0.8%
-0.8%
-1.3%
-1.0%
-1.1%
-0.9%
-0.8%
-0.9%
-1.0%
-1.0%
-1.0%
-0.9%
-1.3%
-1.1%

Century Communities, Inc. · CCS

6.9%
8.5%
7.4%
8.2%
6.2%
4.0%
1.4%
2.3%
3.5%
3.9%
2.8%
3.3%
3.3%
3.2%
1.6%
1.4%
1.6%
3.1%
0.9%
1.3%

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

0.0%
1.3%
1.4%
1.3%
1.3%
1.3%
1.4%
1.4%
1.4%
1.3%
1.6%
1.4%
1.4%
1.3%
1.6%
1.3%
1.3%
1.4%
1.4%
1.4%

Five Point Holdings, LLC · FPH

-0.4%
1.8%
-1.3%
-0.4%
-0.2%
-0.2%
-0.4%
-0.1%
0.4%
1.0%
-0.3%
0.9%
0.0%
1.7%
-0.2%
-0.4%
-0.3%
0.6%
-0.3%
-0.2%

Forestar Group Inc. · FOR

3.4%
3.1%
3.7%
2.8%
3.6%
1.3%
1.8%
3.0%
4.4%
2.2%
2.6%
2.0%
4.5%
0.8%
1.7%
1.7%
4.3%
0.7%
1.6%
1.7%

Howard Hughes Holdings Inc. · HHH

0.0%
0.0%
1.8%
1.6%
0.7%
1.2%
0.3%
2.0%
2.4%
3.1%
0.6%
0.8%
2.2%
0.3%
0.6%

Logistic Properties of the Americas · LPA

0.0%
0.0%
1.4%
1.5%
1.4%
1.5%
-14%
1.6%
0.9%
0.8%
1.0%
0.9%
1.1%
1.2%
1.3%

Smith Douglas Homes Corp. · SDHC

16%
12%
29%
32%
33%
35%
19%
16%
8.4%
10%
14%
9.8%
5.4%
4.4%
4.6%
3.6%
1.1%

ROCE change · reported quarter history

AMREP Corporation · AXR

+0.9 pp
+0.1 pp
−1.7 pp
−16.4 pp
−0.8 pp
−3.7 pp
+0.4 pp
+4.8 pp
+2.3 pp
+1.6 pp
+0.5 pp
−1.2 pp
+0.5 pp
−1.7 pp
+1.9 pp

Belpointe PREP, LLC · OZ

−0.4 pp
+0.2 pp
+0.4 pp
−0.1 pp
−0.2 pp
−0.3 pp
−0.1 pp
+0.5 pp
+0.1 pp
+0.1 pp
−0.1 pp
−0.2 pp
0.0 pp
−0.3 pp
−0.1 pp

Century Communities, Inc. · CCS

−0.7 pp
−4.5 pp
−6.0 pp
−5.9 pp
−2.7 pp
−0.1 pp
+1.4 pp
+1.0 pp
−0.2 pp
−0.7 pp
−1.2 pp
−1.9 pp
−1.7 pp
−0.1 pp
−0.7 pp
−0.1 pp

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

+1.3 pp
0.0 pp
0.0 pp
+0.1 pp
+0.1 pp
0.0 pp
+0.2 pp
0.0 pp
0.0 pp
0.0 pp
0.0 pp
−0.1 pp
−0.1 pp
+0.1 pp
−0.2 pp
+0.1 pp

Five Point Holdings, LLC · FPH

+0.2 pp
−2.0 pp
+0.9 pp
+0.3 pp
+0.6 pp
+1.2 pp
+0.1 pp
+1.0 pp
−0.4 pp
+0.7 pp
+0.1 pp
−1.3 pp
−0.3 pp
−1.1 pp
−0.1 pp
+0.2 pp

Forestar Group Inc. · FOR

+0.2 pp
−1.8 pp
−1.9 pp
+0.2 pp
+0.8 pp
+0.9 pp
+0.8 pp
−1.0 pp
+0.1 pp
−1.4 pp
−0.9 pp
−0.3 pp
−0.2 pp
−0.1 pp
−0.1 pp
0.0 pp

Howard Hughes Holdings Inc. · HHH

+1.8 pp
+1.6 pp
−1.1 pp
−0.4 pp
+1.7 pp
+1.9 pp
+0.3 pp
−1.2 pp
−0.2 pp
−2.8 pp
0.0 pp

Logistic Properties of the Americas · LPA

+1.4 pp
+1.5 pp
0.0 pp
0.0 pp
−0.5 pp
−0.7 pp
+14.6 pp
−0.7 pp
+0.2 pp
+0.4 pp
+0.3 pp

Smith Douglas Homes Corp. · SDHC

+13.7 pp
+19.4 pp
−10.0 pp
−15.3 pp
−24.3 pp
−24.7 pp
−5.5 pp
−6.4 pp
−3.0 pp
−5.9 pp
−9.3 pp
−6.2 pp
−4.3 pp
07 · compare level, then change

Valuation Against Growth & Quality

AMREP Corporation has the lowest Guarded PEG among the 10 Real Estate - Development companies compared here, at 0.22×. Five Point Holdings, LLC has the lowest P/E at 7.42×, so level and change sit with different companies. 1 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: AMREP Corporation has the lowest comparable Guarded PEG at 0.22×. Only 1 of 10 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderAMREP Corporation · 0.22×
GapNot enough peers
Persistence0/8 recent comparable periods
Coverage1/10 companies · 18 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1AMREP Corporation AXR0.2
P/Elowest P/E
1Five Point Holdings, LLC FPH7.4
2Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX7.5
3AMREP Corporation AXR8.7
4Forestar Group Inc. FOR9.5
5Smith Douglas Homes Corp. SDHC13.5
Valuation · company comparison
1/10 level · 9/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Century Communities, Inc. CCS1.015.7Jun 2026
Forestar Group Inc. FOR0.49.5Jun 2026
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX0.47.5Jun 2026
AMREP Corporation AXR0.28.7Mar 2026
Five Point Holdings, LLC FPH0.17.4Jun 2026
Howard Hughes Holdings Inc. HHH31.0Mar 2026
Sky Harbour Group Corporation SKYH240.8Mar 2026
Smith Douglas Homes Corp. SDHC13.5Mar 2026
Logistic Properties of the Americas LPA33.0Mar 2026
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

AMREP Corporation · AXR

0.1
0.2

Century Communities, Inc. · CCS

0.3
0.2
1.0

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

0.3
0.6
0.2
1.1
0.4

Five Point Holdings, LLC · FPH

0.2
0.1
0.1
0.1

Forestar Group Inc. · FOR

0.6
0.2
0.3
0.4

P/E · reported quarter history

AMREP Corporation · AXR

12.1
9.6
9.2
5.8
6.0
4.7
2.4
3.4
4.5
4.7
48.5
16.2
14.5
13.2
12.6
9.5
9.0
11.0
8.7

Century Communities, Inc. · CCS

4.9
5.7
3.4
2.6
2.4
3.1
5.0
8.0
8.7
11.3
10.7
8.2
10.3
7.1
7.0
6.9
9.3
12.2
12.9
15.7

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

7.4
7.1
9.6
7.5
5.9
6.0
10.1
20.1
121.7
496.3
10.9
8.7
7.5

Five Point Holdings, LLC · FPH

72.7
8.3
5.8
4.0
3.7
4.1
5.9
3.9
4.3
5.1
4.7
5.8
7.9
7.4

Forestar Group Inc. · FOR

8.3
8.3
6.0
4.0
3.1
4.8
5.6
7.8
8.1
9.0
10.0
8.3
8.1
7.3
6.4
6.3
8.1
7.5
7.5
9.5

Howard Hughes Holdings Inc. · HHH

94.2
14.6
31.2
27.3
19.4
12.6
14.4
15.6
36.1
31.0

Logistic Properties of the Americas · LPA

15.4
29.7
20.3
8.3
33.0

Sky Harbour Group Corporation · SKYH

59.8
99.7
240.8

Smith Douglas Homes Corp. · SDHC

2.3
1.9
3.0
14.2
11.2
12.1
14.0
14.1
13.5
08 · compare level, then change

Enterprise Value & Book Value

AMREP Corporation has the lowest EV/EBITDA among the 10 Real Estate - Development companies compared here, at 4.27×. Smith Douglas Homes Corp. is next at 8.52×. Logistic Properties of the Americas has the lowest P/BV at 0.41×, so level and change sit with different companies. 8 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: AMREP Corporation leads ev/ebitda at 4.27×; Logistic Properties of the Americas leads p/bv at 0.41×.

LeaderAMREP Corporation · 4.27×
Gap49.9% versus #2 · Smith Douglas Homes Corp.
Persistence0/8 recent comparable periods
Coverage8/10 companies · 114 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1AMREP Corporation AXR4.3
2Smith Douglas Homes Corp. SDHC8.5
3Forestar Group Inc. FOR9.3
4Century Communities, Inc. CCS12.4
5Howard Hughes Holdings Inc. HHH15.0
P/BVlowest P/BV
1Logistic Properties of the Americas LPA0.4
2Five Point Holdings, LLC FPH0.5
3AMREP Corporation AXR0.8
4Century Communities, Inc. CCS0.8
5Belpointe PREP, LLC OZ0.8
Enterprise and book valuation · company comparison
8/10 level · 10/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
Five Point Holdings, LLC FPH1,434.30.5Jun 2026
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX17.21.0Jun 2026
Logistic Properties of the Americas LPA16.50.4Mar 2026
Howard Hughes Holdings Inc. HHH15.01.0Mar 2026
Century Communities, Inc. CCS12.40.8Jun 2026
Forestar Group Inc. FOR9.30.9Jun 2026
Smith Douglas Homes Corp. SDHC8.51.4Mar 2026
AMREP Corporation AXR4.30.8Mar 2026
Sky Harbour Group Corporation SKYH2.7Mar 2026
Belpointe PREP, LLC OZ0.8Mar 2026
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

AMREP Corporation · AXR

7.2
5.4
5.1
2.5
2.7
2.3
2.9
9.0
13.6
33.5
36.3
10.0
8.8
9.4
9.2
6.5
5.1
6.0
4.3

Century Communities, Inc. · CCS

4.8
5.6
3.8
3.4
3.3
3.5
5.0
7.9
8.8
10.8
10.0
8.4
10.4
5.4
8.2
8.6
10.8
8.2
10.4
12.4

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

186.5
20.1
23.9
20.2
15.6
15.5
15.2
11.9
13.6
15.6
16.3
17.1
17.2

Five Point Holdings, LLC · FPH

72.6
89.5
74.5
61.4
163.4
39.2
36.3
23.2
27.9
20.6
20.9
47.2
64.0
1,434.3

Forestar Group Inc. · FOR

9.0
8.7
6.4
5.6
4.3
6.1
6.8
7.7
6.8
8.3
9.3
8.4
7.7
9.1
8.6
8.3
8.4
8.7
7.9
9.3

Howard Hughes Holdings Inc. · HHH

20.4
13.6
12.2
19.8
22.5
22.9
18.3
15.2
11.4
11.0
10.4
11.8
17.1
15.0

Logistic Properties of the Americas · LPA

27.2
23.9
21.0
16.6
16.5

Smith Douglas Homes Corp. · SDHC

4.3
4.1
5.1
4.4
4.5
5.2
6.1
7.2
8.5

P/BV · reported quarter history

AMREP Corporation · AXR

1.1
1.1
0.9
0.8
0.9
0.7
0.7
0.7
0.8
0.8
0.9
0.9
1.1
1.3
1.3
0.9
0.9
0.8
0.8

Belpointe PREP, LLC · OZ

0.2
1.1
1.1
1.0
0.9
1.1
1.0
1.0
1.0
0.9
0.7
0.7
0.8
1.0
0.8
0.9
0.9
0.9
0.8

Century Communities, Inc. · CCS

1.3
1.6
1.0
0.7
0.7
0.7
0.9
1.1
0.9
1.2
1.3
1.0
1.3
0.9
0.8
0.7
0.7
0.7
0.7
0.8

Corporación Inmobiliaria Vesta, S.A.B. de C.V. · VTMX

1.3
1.2
1.4
1.4
1.0
0.9
0.8
0.8
0.9
0.9
0.9
1.0
1.0

Five Point Holdings, LLC · FPH

0.9
0.7
0.7
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.4
0.4
0.5
0.5
0.5
0.5
0.4
0.5

Forestar Group Inc. · FOR

0.9
1.0
0.8
0.6
0.5
0.6
0.6
0.9
1.0
1.2
1.4
1.1
1.0
0.8
0.7
0.6
0.8
0.7
0.7
0.9

Howard Hughes Holdings Inc. · HHH

1.4
0.7
1.0
1.2
1.4
1.2
1.0
1.5
1.4
1.3
1.1
1.3
1.6
1.0

Logistic Properties of the Americas · LPA

2.4
1.5
1.3
1.5
1.2
0.9
0.6
0.3
0.4

Sky Harbour Group Corporation · SKYH

-7.4
17.3
3.3
2.2
1.5
5.2
3.3
3.0
3.4
5.8
3.8
6.6
3.8
4.5
2.8
2.9
2.4
2.7

Smith Douglas Homes Corp. · SDHC

4.4
3.3
4.9
3.1
2.3
2.2
1.9
1.7
1.4
09 · let price answer last

Market action

Corporación Inmobiliaria Vesta, S.A.B. de C.V. has the strongest one-year price move in Real Estate - Development at +24.8%. Century Communities, Inc. leads on Mansfield relative strength against the S&P 500 at +6%. 4 of 10 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Real Estate - Development comparison names 5 specific ways its own evidence can mislead, all listed below. All 10 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Thin comparisons: Valuation have fewer than three usable current readings.
10 · the complete set

Which companies are included?

All 10 companies in the canonical Real Estate - Development membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentals
Howard Hughes Holdings Inc. HHH$4.0B$67.12026-07-28Mar 2026
Corporación Inmobiliaria Vesta, S.A.B. de C.V. VTMX$3.1B$34.92026-07-28Jun 2026
Century Communities, Inc. CCSAHEAD$2.0B$71.32026-07-28Jun 2026
Forestar Group Inc. FOR$1.5B$29.32026-07-28Jun 2026
Sky Harbour Group Corporation SKYH$843M$10.62026-07-28Mar 2026
Five Point Holdings, LLC FPH$808M$5.52026-07-28Jun 2026
Smith Douglas Homes Corp. SDHC$790M$15.62026-07-28Mar 2026
Belpointe PREP, LLC OZ$182M$45.42026-07-28Mar 2026
AMREP Corporation AXR$122M$23.12026-07-28Mar 2026
Logistic Properties of the Americas LPA$96M$3.32026-07-10Mar 2026
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 10 Real Estate - Development companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-28 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Questions investors ask · short, speakable answers

Real Estate - Development company comparison FAQs

These 18 answers restate the Real Estate - Development comparison above in question form. Every one is computed from the same 10 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Real Estate - Development company is the biggest?

Howard Hughes Holdings Inc. is the largest, with trailing-twelve-month revenue of $1,511 million, ahead of Smith Douglas Homes Corp. at $952 million. That covers 6 of 10 companies with comparable reporting through Mar 2026.

Which Real Estate - Development company is growing fastest?

Belpointe PREP, LLC has the fastest revenue growth at 100% year on year, across 6 of 10 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Real Estate - Development company has the best profit margins?

Corporación Inmobiliaria Vesta, S.A.B. de C.V. has the highest operating margin at 77.6%, from 9 of 10 comparable companies. Belpointe PREP, LLC shows the biggest recent improvement, at +125.5 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Real Estate - Development company makes the most profit?

Howard Hughes Holdings Inc. earns the most, at $120 million of trailing-twelve-month net profit, from 6 of 10 comparable companies. AMREP Corporation has the fastest profit growth at 16.7%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Real Estate - Development company earns the highest return on capital?

AMREP Corporation leads on return on capital employed at 2.3%, across 9 of 10 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Real Estate - Development stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — AMREP Corporation screens cheapest at 0.22×. Only 1 of 10 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Real Estate - Development company has the strongest balance sheet?

AMREP Corporation carries the lowest comparable gross debt at $0 million, from 10 of 10 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Real Estate - Development company is investing most in new capacity?

Corporación Inmobiliaria Vesta, S.A.B. de C.V. reports the largest capital spending at $76 million, across 10 of 10 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Real Estate - Development sector beating the market?

Real Estate - Development has underperformed S&P 500 by 15.2% over the last 52 weeks and 0.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 10 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Real Estate - Development stock has the strongest price momentum?

Century Communities, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Real Estate - Development company scores highest for research priority?

AMREP Corporation scores 62 out of 100 with 76% evidence confidence, from 21.5 points on growth and earnings, 17.8 on capital efficiency, 15.7 on valuation and 7 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Real Estate - Development companies does this comparison cover, and over what period?

It compares 10 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Real Estate - Development sector?

The 10 Real Estate - Development companies on this page carry $13,454 million of combined market value. Howard Hughes Holdings Inc. is the largest at $3,969 million, about 30% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Real Estate - Development sector's P/E ratio?

The median price-to-earnings ratio across the 10 Real Estate - Development companies on this page is 13.5×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Real Estate - Development sector performing?

4 of the 10 covered Real Estate - Development companies are beating S&P 500 on Mansfield relative strength. The sector itself is 15.2% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Real Estate - Development stocks are listed in the US?

This comparison covers 10 listed Real Estate - Development companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI