MQS Management LLC Purchases Shares of 15,779 Tri Pointe Homes, Inc. (NYSE:TPH)

MQS Management LLC acquired a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,779 shares of the construction company’s stock, valued at approximately $715,000.

A number of other hedge funds have also modified their holdings of TPH. ProShare Advisors LLC boosted its position in Tri Pointe Homes by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 19,415 shares of the construction company’s stock worth $751,000 after acquiring an additional 1,338 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Tri Pointe Homes by 64.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock worth $3,219,000 after buying an additional 32,717 shares during the last quarter. Forge First Asset Management Inc. bought a new position in shares of Tri Pointe Homes in the 1st quarter valued at about $3,156,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Tri Pointe Homes by 1.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock valued at $959,000 after acquiring an additional 376 shares during the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in Tri Pointe Homes during the first quarter worth about $834,000. 97.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TPH. Oppenheimer lowered their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada lowered their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Tuesday, September 17th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $41.83 on Wednesday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.70 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. Tri Pointe Homes, Inc. has a 52 week low of $27.66 and a 52 week high of $47.78. The company has a 50-day simple moving average of $43.40 and a 200 day simple moving average of $41.34.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.11. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. On average, sell-side analysts predict that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

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.