BlackRock Inc. Acquires New Shares in Green Brick Partners, Inc. $GRBK

Key Points

• BlackRock acquired 4.87 million shares of Green Brick Partners in the second quarter, worth about $389.6 million and representing an 11.32% stake.
• Institutional investors and hedge funds collectively own 78.24% of GRBK, while several smaller funds also increased their positions.
• Green Brick reported quarterly EPS of $1.70, exceeding estimates of $1.39, although revenue fell 10.1% year over year. Analysts maintain a consensus “Hold” rating.

BlackRock Inc. bought a new stake in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,867,491 shares of the financial services provider's stock, valued at approximately $389,594,000. BlackRock Inc. owned 11.32% of Green Brick Partners at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GRBK. Lido Advisors LLC grew its position in shares of Green Brick Partners by 2.1% in the 4th quarter. Lido Advisors LLC now owns 7,005 shares of the financial services provider's stock valued at $439,000 after purchasing an additional 142 shares during the period. ProShare Advisors LLC lifted its stake in Green Brick Partners by 3.3% in the fourth quarter. ProShare Advisors LLC now owns 6,070 shares of the financial services provider's stock valued at $380,000 after buying an additional 193 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Green Brick Partners by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 819 shares of the financial services provider's stock valued at $51,000 after buying an additional 354 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in shares of Green Brick Partners by 10.5% in the second quarter. Byrne Asset Management LLC now owns 4,213 shares of the financial services provider's stock valued at $337,000 after buying an additional 400 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Green Brick Partners by 1.0% in the fourth quarter. New York State Common Retirement Fund now owns 40,620 shares of the financial services provider's stock valued at $2,545,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 78.24% of the company's stock.

Analysts Set New Price Targets

Separately, Citizens Jmp restated a "market perform" rating on shares of Green Brick Partners in a report on Tuesday, May 19th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Green Brick Partners Stock Performance

Shares of GRBK opened at $73.54 on Wednesday. The company has a market cap of $3.16 billion, a PE ratio of 9.55 and a beta of 1.79. The firm has a 50-day moving average of $73.45 and a 200-day moving average of $70.56. Green Brick Partners, Inc. has a one year low of $60.44 and a one year high of $83.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.31. Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. During the same period in the previous year, the business posted $1.85 EPS. The business's revenue was down 10.1% compared to the same quarter last year. As a group, equities analysts forecast that Green Brick Partners, Inc. will post 8.34 earnings per share for the current year.

Green Brick Partners Company Profile

Green Brick Partners, Inc NASDAQ: GRBK is a Dallas, Texas–based residential homebuilder and land development company. Founded in 2006, the company acquires, develops and sells residential lots and constructs single‐family detached homes, townhomes and multi‐family rental communities. Green Brick Partners also offers master‐planned community development and delivers improved lot ready capability through its funded land development segment.

Operating across key Sun Belt markets, Green Brick Partners serves homebuyers in the Dallas–Fort Worth metroplex, Greater Houston, Austin and the Atlanta metropolitan area.

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