Pallas Capital Advisors LLC Purchases Shares of 15,795 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 stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,795 shares of the construction company's stock, valued at approximately $505,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in shares of Tri Pointe Homes by 13.2% during the fourth quarter. Quantinno Capital Management LP now owns 9,285 shares of the construction company's stock valued at $337,000 after purchasing an additional 1,081 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Tri Pointe Homes in the 4th quarter valued at approximately $1,130,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tri Pointe Homes by 20.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,527 shares of the construction company's stock valued at $10,317,000 after acquiring an additional 48,857 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Tri Pointe Homes in the 4th quarter valued at approximately $1,642,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Tri Pointe Homes by 129.1% in the fourth quarter. Mackenzie Financial Corp now owns 51,968 shares of the construction company's stock valued at $1,884,000 after purchasing an additional 29,281 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TPH. Evercore ISI reduced their target price on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Wolfe Research downgraded Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wall Street Zen raised shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Wedbush reissued an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research 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 given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.25.

Tri Pointe Homes Stock Down 1.7%

TPH traded down $0.58 during midday trading on Monday, hitting $33.58. 1,182,777 shares of the company's stock traded hands, compared to its average volume of 1,042,388. The company has a market cap of $3.04 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27. The stock's fifty day simple moving average is $34.22 and its 200-day simple moving average is $32.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91.

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 for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The business had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. Tri Pointe Homes's revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its board has approved a share buyback plan on Thursday, July 24th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication 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.