Toll Brothers announces the opening of The Cove at Encinitas, featuring luxury homes near the beach, starting at $2.27 million.
Quiver AI Summary
Toll Brothers, Inc. has announced the opening of its new luxury home community, The Cove at Encinitas, in Southern California. Located near the beach, this exclusive neighborhood features a limited collection of 42 homes with various floor plans, ranging from approximately 1,600 to over 4,000 square feet, offering up to 5 bedrooms and modern finishes. Homes are priced starting at $2.27 million and include energy-efficient features such as solar systems and pre-wiring for electric vehicle charging. Residents will enjoy proximity to South Ponto Beach, local parks, and a range of recreational opportunities without Mello-Roos tax obligations. The development highlights Toll Brothers' commitment to upscale, sustainable living in a desirable coastal area.
Potential Positives
- The Cove at Encinitas is an exclusive new community offering only 42 luxury homes in a prime location less than one mile from the beach, appealing to affluent homebuyers.
- The community features modern, all-electric homes with energy-conscious elements, including a solar system and electric vehicle charging capabilities, positioning Toll Brothers as a leader in sustainability.
- Residents will benefit from close proximity to various recreational opportunities, parks, and beaches, enhancing the appeal of living in Encinitas.
- The absence of Mello-Roos taxes provides an attractive financial incentive for potential buyers, further increasing the desirability of the community.
Potential Negatives
- High starting price of $2.27 million may limit the target market and exclude potential buyers.
- Only 42 homes available could indicate limited revenue generation potential compared to larger developments.
- The focus on an all-electric community may not appeal to traditional home buyers who prefer gas appliances or may lead to higher construction costs.
FAQ
What is The Cove at Encinitas community?
The Cove at Encinitas is a new luxury home community by Toll Brothers, comprising 42 exclusive homes near the beach in Encinitas, California.
What types of homes are offered at The Cove at Encinitas?
Homes at The Cove include single- and two-story designs with 3 to 5 bedrooms, ranging from approximately 1,600 to over 4,000 square feet.
How much do homes at The Cove at Encinitas cost?
Prices for homes at The Cove at Encinitas start at $2.27 million, reflecting their luxury and prime location.
What are the sustainability features of The Cove at Encinitas?
The community features all-electric homes with solar systems, solar batteries, and pre-wiring for electric vehicle charging in garages.
What amenities are available near The Cove at Encinitas?
Residents can enjoy nearby South Ponto Beach, parks, shopping, restaurants, and recreational opportunities, including miles of trails and open spaces.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TOL Insider Trading Activity
$TOL insiders have traded $TOL stock on the open market 20 times in the past 6 months. Of those trades, 0 have been purchases and 20 have been sales.
Here’s a breakdown of recent trading of $TOL stock by insiders over the last 6 months:
- DOUGLAS C. JR. YEARLEY (Chief Executive Officer) has made 0 purchases and 7 sales selling 212,584 shares for an estimated $32,000,793.
- MARTIN P. CONNOR (Chief Financial Officer) has made 0 purchases and 7 sales selling 63,813 shares for an estimated $9,116,108.
- ROBERT PARAHUS (President & COO) sold 6,900 shares for an estimated $1,018,423
- PAUL E SHAPIRO sold 3,837 shares for an estimated $514,697
- WENDELL E. PRITCHETT sold 3,000 shares for an estimated $442,169
- JOHN A MCLEAN sold 1,000 shares for an estimated $151,100
- CHRISTINE GARVEY has made 0 purchases and 2 sales selling 225 shares for an estimated $28,321.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TOL Hedge Fund Activity
We have seen 355 institutional investors add shares of $TOL stock to their portfolio, and 323 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC added 1,046,758 shares (+97.7%) to their portfolio in Q3 2024, for an estimated $161,713,643
- JPMORGAN CHASE & CO removed 821,081 shares (-46.8%) from their portfolio in Q3 2024, for an estimated $126,848,803
- POINT72 ASSET MANAGEMENT, L.P. removed 796,068 shares (-82.6%) from their portfolio in Q3 2024, for an estimated $122,984,545
- WESTFIELD CAPITAL MANAGEMENT CO LP added 722,130 shares (+inf%) to their portfolio in Q3 2024, for an estimated $111,561,863
- DIMENSIONAL FUND ADVISORS LP removed 697,184 shares (-25.8%) from their portfolio in Q3 2024, for an estimated $107,707,956
- BLACKROCK, INC. added 665,465 shares (+5.2%) to their portfolio in Q3 2024, for an estimated $102,807,687
- ALLIANZ ASSET MANAGEMENT GMBH removed 611,150 shares (-48.1%) from their portfolio in Q3 2024, for an estimated $94,416,563
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ENCINITAS, Calif., Jan. 23, 2025 (GLOBE NEWSWIRE) --
Toll Brothers, Inc.
(NYSE:TOL), the nation’s leading builder of luxury homes, today announced its highly anticipated new Southern California community,
The Cove at Encinitas
, is now open for sale at La Costa Avenue and Pearl Street in Encinitas, California. This exclusive Toll Brothers neighborhood offers a limited collection of just 42 homes situated less than one mile from the beach.
The Cove at Encinitas features distinctive floor plans including both single- and two-story home designs ranging from approx. 1,600 to over 4,000 square feet. Homes offer 3 to 5 bedrooms, 2.5 to 5.5 baths, and 2- or 3-car garages, with architectural styles including coastal contemporary, contemporary craftsman, and modern farmhouse. Open-concept layouts feature spacious kitchens, great rooms, casual dining areas, and unique bonus spaces, including lofts, home offices, flex rooms, and en suite bedrooms. Prices start at $2.27 million.
The homes at The Cove at Encinitas are thoughtfully designed with upscale, contemporary coastal finishes that reflect the latest in design trends. Home buyers will have the opportunity to visit the
Toll Brothers Design Studio
to personalize their new home with flooring selections and other premium finishes including a curated range of options to complement the home's distinctive style.
The Cove at Encinitas is one of the first all-electric Toll Brothers communities in Southern California. Energy-conscious elements in every home include a solar system, solar battery, pre-wiring for electric vehicle charging in the garage, and more.
“We are thrilled to bring this intimate enclave of luxury homes to the sought-after coastal city of Encinitas,” said Brad Hare, Division President of Toll Brothers in Southern California. “With its prime location near the beach and exceptional design, The Cove at Encinitas will provide residents with the best of coastal living.”
Residents will enjoy walking distance to South Ponto Beach, along with cul-de-sac streets and two community pocket parks. The community is conveniently located near restaurants, shopping, and recreational opportunities, including six beaches within Encinitas, numerous coastal viewpoints, 85 acres of open space, and 40 miles of trails. This area also features 19 parks, three sports parks, a skatepark, and off-leash dog parks.
With no Mello-Roos, residents can enjoy the benefits of an exceptional living experience without additional tax obligations.
Other Toll Brothers new home communities in the San Diego area include
Everly at Civita
and
Mira Vista
.
For more information on The Cove at Encinitas and additional Toll Brothers communities in California, call (844) 700-8655 or visit
TollBrothers.com/Ca
.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.
In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit
TollBrothers.com
.
From Fortune, ©2024 Fortune Media IP Limited. All rights reserved. Used under license.
Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 |
ameck@tollbrothers.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b15fb12e-312e-4bae-a6a9-02b37daeb1b3
Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)
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