Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Latch, Inc. was a U.S.-based technology company focused on smart access control and building operating systems for multifamily residential, commercial, and mixed‑use properties. The company operated at the intersection of property technology (PropTech), Internet of Things (IoT), and building automation, providing software, hardware, and cloud-based services designed to manage access, deliveries, and resident interactions within modern buildings. Latch’s primary customers were property owners, developers, and operators seeking centralized, digital control of building access and workflows.
The company’s core offerings centered on its LatchOS platform and associated smart locks, access readers, and software subscriptions, which generated revenue through a combination of hardware sales, SaaS fees, and installation services. Latch positioned itself as an end‑to‑end access solution embedded early in the building development lifecycle, creating recurring revenue and high switching costs. Founded in 2013, Latch grew rapidly through the late 2010s, went public via a SPAC transaction in 2021, and was later acquired by Honeywell International Inc., with the merger completed in 2024, after which Latch ceased trading publicly under the LTCH ticker.
Business Operations
Latch operated primarily through integrated hardware and software business lines designed to function as a unified building access ecosystem. Its major business activities included smart door hardware, access control devices, cloud-based software subscriptions, and professional services for installation and system integration. Revenue was generated through upfront hardware sales and recurring SaaS contracts tied to property unit counts and usage levels.
Operations were concentrated in North America, with a strong emphasis on U.S. multifamily residential developments, while also supporting select international customers. Latch controlled proprietary access control technology, cloud infrastructure, and mobile applications that enabled residents, property managers, and service providers to interact with buildings digitally. Prior to its acquisition, the company maintained partnerships with real estate developers, property managers, and delivery service providers to embed its systems at the construction or renovation stage.
Strategic Position & Investments
Latch’s strategic direction focused on becoming a foundational operating layer for smart buildings by expanding beyond door access into broader building workflows, data, and automation. Growth initiatives emphasized deeper software adoption per property, expansion of recurring revenue, and integration of additional smart building features within LatchOS. The company also pursued strategic acquisitions to enhance its technology stack and accelerate market penetration.
The most significant strategic transaction was the acquisition of Latch by Honeywell International Inc., which positioned Latch’s technology within Honeywell’s broader building automation and energy management portfolio. This transaction marked a shift from independent growth to integration within a global industrial and technology conglomerate. Information on post-acquisition standalone investments by Latch is limited; data inconclusive based on available public sources.
Geographic Footprint
Latch was headquartered in New York City, United States, and its primary market presence was in North America, particularly across major U.S. metropolitan areas with high multifamily housing development. The company supported properties across urban and suburban markets, working closely with national and regional real estate developers.
While the majority of revenue was generated in the United States, Latch maintained a limited international footprint through select deployments and technology support in Europe and other regions. Following the acquisition by Honeywell, Latch’s technology gained access to Honeywell’s broader global operational reach, though the extent of independent international expansion under the Latch brand has not been fully disclosed publicly.
Leadership & Governance
Latch was founded by Luke Schoenfelder, who served as Chief Executive Officer from inception through the company’s public listing and into the period preceding its acquisition. The leadership team combined experience in technology, real estate, and large-scale systems deployment, reflecting the company’s focus on enterprise property customers and long-term platform integration.
Key executives prior to the acquisition included:
- Luke Schoenfelder – Chief Executive Officer
- Garth Mitchell – Chief Financial Officer
- Katherine Cohen – Chief Marketing Officer
- Jim Dufresne – Chief Revenue Officer
Following the acquisition by Honeywell, governance and executive reporting transitioned under Honeywell’s corporate structure. Publicly available information does not clearly specify the current standalone executive roles for Latch; data inconclusive based on available public sources.