Should You Consider Investing in Lennar Corporation (LEN)? Third Avenue Management, an investment management firm, published its “Real Estate Value Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of +10.70% was recorded by the fund for the Q1 of 2021, outperforming the benchmark, FTSE EPRA NAREIT Developed Index, that rose to +6.11% for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021. Third Avenue Management, in its Real Estate Value Fund Q1 2021 investor letter, mentioned Lennar Corporation (NYSE: LEN), and shared their insights on the company. Lennar Corporation is a Miami, Florida-based home construction company that currently has a $31.5 billion market capitalization. Since the beginning of the year, LEN delivered a 35.71% return, extending its 12-month gains to 103.32%. As of May 11, 2021, the stock closed at $103.45 per share.