ProShare Advisors LLC lowered its stake in TRI Pointe Group, Inc. (NYSE:TPH) by 14.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,902 shares of the construction company’s stock after selling 4,194 shares during the quarter. ProShare Advisors LLC’s holdings in TRI Pointe Group were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TPH. BlackRock Inc. lifted its stake in shares of TRI Pointe Group by 19,738.7% in the 1st quarter. BlackRock Inc. now owns 18,584,658 shares of the construction company’s stock valued at $233,053,000 after purchasing an additional 18,490,979 shares during the period. Omega Advisors Inc. acquired a new position in shares of TRI Pointe Group in the 1st quarter valued at $45,834,000. Wellington Management Group LLP acquired a new position in shares of TRI Pointe Group in the 1st quarter valued at $31,284,000. Point72 Asset Management L.P. lifted its stake in shares of TRI Pointe Group by 292.2% in the 1st quarter. Point72 Asset Management L.P. now owns 2,696,159 shares of the construction company’s stock valued at $33,810,000 after purchasing an additional 2,008,759 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of TRI Pointe Group by 11.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,364,467 shares of the construction company’s stock valued at $167,592,000 after purchasing an additional 1,359,721 shares during the period.

Shares of TRI Pointe Group, Inc. (NYSE TPH) opened at 14.32 on Tuesday. The company’s 50-day moving average price is $13.16 and its 200 day moving average price is $12.94. TRI Pointe Group, Inc. has a 52 week low of $10.35 and a 52 week high of $14.40. The firm has a market cap of $2.17 billion, a P/E ratio of 17.01 and a beta of 1.68.

TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The business had revenue of $568.80 million for the quarter, compared to analysts’ expectations of $563.72 million. TRI Pointe Group had a net margin of 5.77% and a return on equity of 7.32%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that TRI Pointe Group, Inc. will post $1.34 earnings per share for the current year.

TRI Pointe Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 26th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Several brokerages recently commented on TPH. Citigroup Inc. downgraded TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Thursday, July 27th. ValuEngine raised TRI Pointe Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub downgraded TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. TheStreet raised TRI Pointe Group from a “c” rating to a “b-” rating in a research note on Monday, July 10th. Finally, Zacks Investment Research raised TRI Pointe Group from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. TRI Pointe Group currently has an average rating of “Hold” and an average target price of $14.13.

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TRI Pointe Group Company Profile

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.

Institutional Ownership by Quarter for TRI Pointe Group (NYSE:TPH)

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