15,795 Shares in Tri Pointe Homes Inc. $TPH Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new stake in shares of Tri Pointe Homes Inc. (NYSE:TPH) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,795 shares of the construction company’s stock, valued at approximately $505,000.

A number of other institutional investors also recently modified their holdings of TPH. American Century Companies Inc. raised its position in Tri Pointe Homes by 13.5% in the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company’s stock worth $70,517,000 after purchasing an additional 262,695 shares during the last quarter. LSV Asset Management boosted its stake in shares of Tri Pointe Homes by 4.8% during the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company’s stock worth $56,272,000 after buying an additional 80,198 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tri Pointe Homes during the 1st quarter worth about $43,906,000. Allianz Asset Management GmbH lifted its stake in Tri Pointe Homes by 54.8% in the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock valued at $40,061,000 after purchasing an additional 444,153 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Tri Pointe Homes by 23.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company’s stock valued at $35,570,000 after purchasing an additional 210,810 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

TPH has been the topic of several recent research reports. Wolfe Research cut shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a report on Sunday, July 27th. Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Wedbush reiterated an “outperform” rating and set a $43.00 price target on shares of Tri Pointe Homes in a report on Friday, July 25th. Finally, Evercore ISI cut their price target on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.25.

Tri Pointe Homes Trading Down 2.8%

TPH stock opened at $34.13 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $46.91. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27. The firm’s fifty day simple moving average is $34.22 and its two-hundred day simple moving average is $32.22.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to analysts’ expectations of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The firm’s quarterly revenue was down 22.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. As a group, analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Tri Pointe Homes

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.