Toll Brothers

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Toll Brothers, Inc.
Public
Traded as NYSE: TOL
Industry Homebuilding
Predecessor predecessors of the company operated from 1967
Founded May 1986 (1986-05)
Founder Robert I. Toll
Bruce E. Toll
Headquarters Horsham, Pennsylvania, United States
Key people
Products single-family detached and attached residences
Revenue
  • Increase US$2.67 billion (2013)
  • US$1.88 billion (2012)
  • Increase US$201.1 million (2013)
  • (US$63.4 million) (2012)
  • Decrease US$170.6 million (2013)
  • US$487.1 million (2012)
Number of employees
 2,117 (2010)
Website http://www.tollbrothers.com/
Footnotes / references
[1]

Toll Brothers is an American real estate company, based in Horsham, Pennsylvania. It operates primarily as a builder of homes in major metropolitan areas in the contiguous United States.[2] It is a publicly-traded company and is listed on the New York Stock Exchange.

Company overview

The company was established in May 1986 as a Delaware corporation, but claims original foundation in 1967.[2]

On April 30, 2014, the company had over $360 million in cash and marketable securities, total assets of over $8.2 billion and shareholders' equity of $3.6 billion.[3]

As of October 2012, Toll Brothers operated 111 fully owned subsidiary companies and had active partnerships with 211 companies.[4] It has subsidiaries for land development, engineering, marketing, golf course development and management, architecture, mortgaging, title insurance and landscaping. Toll Commercial and Toll Brothers Realty Trust are subsidiaries for commercial property; Gibraltar Capital and Asset Management buys existing real estate portfolios.[2]

Criticism

Lua error in package.lua at line 80: module 'strict' not found. Toll Brothers was sued in April 2007 by investors claiming they were misled by directors about demand for new home construction. The suit was later settled for $25 million, though Toll Brothers did not admit any wrongdoing.[5]

Toll Brothers has also been accused of fraud and substandard construction by residents of the Northside Piers development in Williamsburg, Brooklyn. They have complained that "walls are leaky and poorly insulated; mold is growing in the walls; and there is faulty plumbing, sewage, heating and air-conditioning systems."[6] The Northside Piers project gained notoriety in September 2007 when it caught fire during construction.[7]

"Toll Brothers Inc. agreed on November 4, 2010, to pay $25 million to settle a lawsuit brought by investors alleging that Toll Brothers misled them regarding the company's ability to manage the downturn in the U.S. residential real estate market."[8]

In 2012 the company was required to pay a penalty of $741,000 for numerous alleged violations of the Clean Water Act, including more than 600 relating to runoff of stormwater at its building sites, among them sites in the Chesapeake Bay Watershed.[9]

References

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  2. ↑ 2.0 2.1 2.2 Lua error in package.lua at line 80: module 'strict' not found. Cite error: Invalid <ref> tag; name "10k2010" defined multiple times with different content
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ http://www.sedgwicklaw.com/credit-crunch-digest-12-29-2010/#toll
  9. ↑ [s.n.] (June 20, 2012). Homebuilder Toll Brothers Inc. to Pay $741,000 Clean Water Act Penalty and Implement Company-Wide Stormwater Controls / Settlement to Prevent Millions of Pounds of Sediment and Polluted Stormwater Runoff from Entering U.S. Waterways Each Year. States News Service. Accessed December 2015. (subscription required)
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