KB Home (NYSE:KBH), a builder of residential homes, said Thursday that it has acquired 199 home sites in Longmont, Colorado. The acquired land holding is the development site for the company’s Somerset Meadows project. Terms of the transaction were not disclosed. Shares were marginally higher in recent morning trade, around the midpoint of the 52-week range of $9.04 – $17.42. The stock is up 0.77% or $0.1 after the news, hitting $13.65 per share. About 1.55 million shares traded hands. KB Home (NYSE:KBH) has declined 6.94% since October 20, 2015 and is downtrending. It has underperformed by 9.88% the S&P500. KB Home operates as a homebuilding company in the United States. It constructs and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, move-up, and active adult homebuyers.
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