Belpointe Asset Management LLC Purchases 2,541 Shares of Tri Pointe Homes Inc. $TPH

Belpointe Asset Management LLC increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 24.9% during the 2nd quarter, Holdings Channel reports. The fund owned 12,730 shares of the construction company’s stock after buying an additional 2,541 shares during the quarter. Belpointe Asset Management LLC’s holdings in Tri Pointe Homes were worth $407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TPH. Smartleaf Asset Management LLC boosted its stake in Tri Pointe Homes by 56.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company’s stock worth $67,000 after acquiring an additional 757 shares during the last quarter. GAMMA Investing LLC boosted its stake in Tri Pointe Homes by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company’s stock worth $76,000 after acquiring an additional 389 shares during the last quarter. CWM LLC boosted its stake in Tri Pointe Homes by 67.8% during the 1st quarter. CWM LLC now owns 3,797 shares of the construction company’s stock worth $121,000 after acquiring an additional 1,534 shares during the last quarter. Covestor Ltd boosted its stake in Tri Pointe Homes by 327.8% during the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company’s stock worth $124,000 after acquiring an additional 2,976 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Tri Pointe Homes during the 1st quarter worth approximately $202,000. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $30.99 on Friday. The company’s fifty day simple moving average is $34.42 and its 200-day simple moving average is $32.36. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.81 billion, a PE ratio of 7.89, a P/E/G ratio of 0.85 and a beta of 1.30. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $46.91.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $884.01 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Equities research analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has approved a share buyback program on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen raised shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Evercore ISI reaffirmed an “in-line” rating and issued a $34.00 price target (down previously from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tri Pointe Homes in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.25.

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.