Jennison Associates LLC Decreases Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Jennison Associates LLC cut its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 46.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,407 shares of the construction company’s stock after selling 40,553 shares during the period. Jennison Associates LLC’s holdings in Tri Pointe Homes were worth $801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPH. JPMorgan Chase & Co. grew its position in shares of Tri Pointe Homes by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,976,293 shares of the construction company’s stock valued at $121,875,000 after acquiring an additional 729,462 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Tri Pointe Homes by 34.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,006,666 shares of the construction company’s stock valued at $36,401,000 after acquiring an additional 509,367 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Tri Pointe Homes during the 3rd quarter valued at $7,825,000. Carlson Capital L P grew its position in shares of Tri Pointe Homes by 47.3% during the 3rd quarter. Carlson Capital L P now owns 1,145,802 shares of the construction company’s stock valued at $20,785,000 after acquiring an additional 367,891 shares during the period. Finally, LSV Asset Management grew its position in shares of Tri Pointe Homes by 16.1% during the 3rd quarter. LSV Asset Management now owns 1,569,524 shares of the construction company’s stock valued at $28,471,000 after acquiring an additional 217,524 shares during the period.

TPH has been the subject of a number of recent research reports. Janney Montgomery Scott initiated coverage on shares of Tri Pointe Homes in a research report on Thursday, January 21st. They set a “buy” rating and a $26.00 price objective for the company. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Friday, January 8th. Zelman & Associates downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Monday, October 26th. Finally, JMP Securities upped their target price on shares of Tri Pointe Homes from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Monday, October 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.71.

Shares of Tri Pointe Homes stock opened at $18.26 on Tuesday. The company has a market capitalization of $2.32 billion, a P/E ratio of 8.57 and a beta of 1.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.33 and a current ratio of 1.33. The company has a fifty day moving average of $19.58 and a 200 day moving average of $18.10. Tri Pointe Homes, Inc. has a fifty-two week low of $5.89 and a fifty-two week high of $22.17.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, February 18th. The construction company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.64 by $0.28. Tri Pointe Homes had a net margin of 8.54% and a return on equity of 13.70%. Analysts forecast that Tri Pointe Homes, Inc. will post 1.98 EPS for the current year.

About Tri Pointe Homes

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. The company operates a portfolio of six brands across ten states, including 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 Virginia.

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Institutional Ownership by Quarter for Tri Pointe Homes (NYSE:TPH)

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