Belpointe Asset Management LLC Has $407,000 Stock Position in Tri Pointe Homes Inc. $TPH

Belpointe Asset Management LLC increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 24.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,730 shares of the construction company’s stock after purchasing 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.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of 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 purchasing an additional 757 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 389 shares in the last quarter. CWM LLC increased its position in shares of 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 purchasing an additional 1,534 shares in the last quarter. Covestor Ltd increased its position in shares of 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 purchasing an additional 2,976 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Tri Pointe Homes during the 1st quarter worth about $202,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Down 2.0%

Shares of NYSE:TPH opened at $30.99 on Friday. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91. The company has a 50 day moving average of $34.42 and a 200-day moving average of $32.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 0.85 and a beta of 1.30.

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

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. 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. Wolfe Research cut shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Wedbush reissued an “outperform” rating and set a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Evercore ISI reissued an “in-line” rating and set a $34.00 price target (down from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tri Pointe Homes in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Tri Pointe Homes presently has a consensus 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.