Pallas Capital Advisors LLC Takes Position in Tri Pointe Homes Inc. $TPH

Key Points

• Pallas Capital Advisors LLC purchased 15,795 shares of Tri Pointe Homes Inc. (TPH) valued at approximately $505,000 during the second quarter.
• The company reported $0.77 earnings per share (EPS) for the last quarter, surpassing estimates, despite a 22.3% decline in revenue year-over-year.
• Tri Pointe Homes has initiated a $50 million share buyback plan, indicating that the leadership believes the stock is undervalued.

Pallas Capital Advisors LLC acquired a new position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,795 shares of the construction company's stock, valued at approximately $505,000.

A number of other large investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in Tri Pointe Homes by 56.5% in the first quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock worth $67,000 after buying an additional 757 shares during the last quarter. CWM LLC raised its stake in shares of Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock valued at $121,000 after purchasing an additional 1,534 shares in the last quarter. Covestor Ltd raised its stake in Tri Pointe Homes by 327.8% during the first quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock worth $124,000 after acquiring an additional 2,976 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Tri Pointe Homes in the first quarter valued at $202,000. Finally, Elevated Capital Advisors LLC increased its stake in shares of Tri Pointe Homes by 9.3% in the first quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock valued at $225,000 after buying an additional 599 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

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

Tri Pointe Homes Stock Performance

Shares of NYSE TPH traded down $0.18 during midday trading on Tuesday, hitting $33.33. 236,802 shares of the company's stock were exchanged, compared to its average volume of 1,038,005. 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 12 month low of $27.90 and a 12 month high of $46.91. The company's 50 day moving average price is $34.20 and its 200 day moving average price is $32.22. The firm has a market capitalization of $3.02 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27.

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

Tri Pointe Homes announced that its board has initiated a stock buyback plan on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Tri Pointe Homes Profile

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.