Tri Pointe Homes announces a $250 million stock repurchase program, succeeding the previous program authorized in December 2023.
Quiver AI Summary
Tri Pointe Homes, Inc. has announced a new stock repurchase program, allowing for the buyback of up to $250 million in common stock through December 31, 2025. This program follows a previous repurchase initiative that started in December 2023, during which the company repurchased nearly 4 million shares for approximately $146.6 million. Share repurchases will be made through various means, including open market transactions. The company is not obligated to buy back a specific number of shares and may adjust the program based on market conditions and other factors. Tri Pointe Homes is a prominent homebuilder in the United States, recognized for its innovative designs and customer experience, and has received multiple awards for its workplace culture and business practices.
Potential Positives
- Tri Pointe Homes has announced a new stock repurchase program, authorizing the repurchase of up to $250 million of common stock, indicating confidence in its financial health and commitment to returning value to shareholders.
- The company successfully repurchased 3,964,537 shares of common stock for a total of $146.6 million in 2024, demonstrating active management of share value and a strategic approach to capital allocation.
- Tri Pointe was named to the 2024 Fortune World’s Most Admired Companies™ list, enhancing its reputation and credibility in the industry.
- The company has received multiple workplace accolades, including the 2023 Fortune 100 Best Companies to Work For®, positioning Tri Pointe as a desirable employer and enhancing its overall corporate image.
Potential Negatives
- The announcement of a new stock repurchase program may signal that the company does not have significant new investment opportunities, which could raise concerns among investors about future growth.
- The ability to modify, suspend, or discontinue the Repurchase Program at any time introduces uncertainty about the company's commitment to returning capital to shareholders.
- The forward-looking statements included in the press release highlight numerous significant risks that could affect the company's performance and financial results, potentially undermining investor confidence.
FAQ
What is Tri Pointe Homes' new stock repurchase program?
Tri Pointe Homes has authorized a new program to repurchase up to $250 million of common stock through December 31, 2025.
How much stock has Tri Pointe repurchased in 2024?
As of December 17, 2024, Tri Pointe repurchased 3,964,537 shares for a total of $146.6 million under the 2024 program.
What factors influence stock repurchase decisions at Tri Pointe Homes?
Decisions on repurchases are influenced by market prices, corporate requirements, general market conditions, and legal requirements.
How does Tri Pointe Homes implement the stock repurchase program?
The company conducts stock repurchases in open market transactions, block trades, or by other means in compliance with federal laws.
What recognitions has Tri Pointe Homes received recently?
Tri Pointe has been recognized as one of the 2023 Fortune 100 Best Companies to Work For and is a Great Place To Work-Certified™ company.
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.
$TPH Insider Trading Activity
$TPH insiders have traded $TPH stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $TPH stock by insiders over the last 6 months:
- THOMAS J. MITCHELL (President and COO) sold 77,384 shares.
- DAVID CH LEE (General Counsel & Secretary) sold 5,000 shares.
- GLENN J. KEELER (CFO and CAO) sold 24,200 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TPH Hedge Fund Activity
We have seen 214 institutional investors add shares of $TPH stock to their portfolio, and 171 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BALYASNY ASSET MANAGEMENT L.P. removed 2,034,533 shares (-100.0%) from their portfolio in Q3 2024
- FULLER & THALER ASSET MANAGEMENT, INC. removed 1,096,696 shares (-78.7%) from their portfolio in Q3 2024
- ASSENAGON ASSET MANAGEMENT S.A. added 1,024,425 shares (+260.8%) to their portfolio in Q3 2024
- MORGAN STANLEY added 1,005,555 shares (+61.9%) to their portfolio in Q3 2024
- GW&K INVESTMENT MANAGEMENT, LLC added 497,336 shares (+34.6%) to their portfolio in Q3 2024
- NUVEEN ASSET MANAGEMENT, LLC added 463,382 shares (+37.9%) to their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC added 452,549 shares (+48.9%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
INCLINE VILLAGE, Nev., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Tri Pointe Homes, Inc. (the “Company”) (NYSE:TPH) today announced that its Board of Directors has approved a new stock repurchase program authorizing the repurchase of up to $250 million of common stock through December 31, 2025 (the “Repurchase Program”), which succeeds the stock repurchase program that the Board of Directors authorized in December 2023 (the “2024 Repurchase Program”). For the fourth quarter through December 17, 2024, under the 2024 Repurchase Program, the Company repurchased 1,202,913 shares of common stock at a weighted average price per share of $41.57 for an aggregate dollar amount of $50.0 million. For the full year through December 17, 2024, under the 2024 Repurchase Program, the Company repurchased 3,964,537 shares of common stock at a weighted average price per share of $36.97 for an aggregate dollar amount of $146.6 million.
Purchases of common stock pursuant to the Repurchase Program may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades, or by other means in accordance with federal securities laws, including pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The Company is not obligated under the Repurchase Program to repurchase any specific number or dollar amount of shares of common stock, and it may modify, suspend, or discontinue the Repurchase Program at any time. Company management will determine the timing and amount of any repurchases in its discretion based on a variety of factors, such as the market price of the Company’s common stock, corporate requirements, general market economic conditions, legal requirements, and applicable tax effects.
About Tri Pointe Homes®
One of the largest homebuilders in the U.S., Tri Pointe Homes, Inc. (NYSE: TPH) is a publicly traded company operating in 12 states and the District of Columbia, and is a recognized leader in customer experience, innovative design, and environmentally responsible business practices. The company builds premium homes and communities with deep ties to the communities it serves—some for as long as a century. Tri Pointe Homes combines the financial resources, technology platforms and proven leadership of a national organization with the regional insights, longstanding community connections and agility of empowered local teams. Tri Pointe has won multiple Builder of the Year awards, was named to the 2024 Fortune World’s Most Admired Companies™ list, is one of the 2023 Fortune 100 Best Companies to Work For® and was designated as one of the PEOPLE Companies That Care® in 2023 and 2024. The company was also named as a Great Place To Work-Certified™ company for four years in a row (2021 through 2024), and was named on several
Great Place to Work
® Best Workplaces lists (2022 through 2024). For more information, please visit
TriPointeHomes.com
.
Forward-Looking Statements
Various statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include, but are not limited to, statements regarding our strategy, projections and estimates concerning the timing and success of specific projects and our future production, land and lot sales, operational and financial results, including our estimates for growth, financial condition, sales prices, prospects, and capital spending. Forward-looking statements that are included in this press release are generally accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “future,” “goal,” “guidance,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “strategy,” “target,” “will,” “would,” or other words that convey future events or outcomes. The forward-looking statements in this press release speak only as of the date of this press release, and we disclaim any obligation to update these statements unless required by law, and we caution you not to rely on them unduly. These forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. The following factors, among others, may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements: the effects of general economic conditions, including employment rates, housing starts, interest rate levels, home affordability, inflation, consumer sentiment, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such parcels; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the successful execution of our internal performance plans, including restructuring and cost reduction initiatives; the prices and availability of supply chain inputs, including raw materials, labor and home components; oil and other energy prices; the effects of U.S. trade policies, including the imposition of tariffs and duties on homebuilding products and retaliatory measures taken by other countries; the effects of weather, including the occurrence of drought conditions in parts of the western United States; the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, and shortages and price increases in labor or materials associated with such natural disasters; the risk of loss from acts of war, terrorism, civil unrest or public health emergencies, including outbreaks of contagious disease, such as COVID-19; transportation costs; federal and state tax policies; the effects of land use, environment and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our homebuyers’ confidential information or other forms of cyber-attack; and additional factors discussed under the sections captioned “Risk Factors” included in our annual and quarterly reports filed with the Securities and Exchange Commission. The foregoing list is not exhaustive. New risk factors may emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business.
Investor Relations Contact:
InvestorRelations@TriPointeHomes.com, 949-478-8696
Media Contact:
Carol Ruiz, cruiz@newgroundco.com, 310-437-0045
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
