Tri Pointe Homes, Inc. Announces $250 Million Stock Repurchase Program

INCLINE VILLAGE, Nev., Dec. 21, 2023 (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, 2024 (the “Repurchase Program”), which replaces the stock repurchase program that the Board of Directors authorized in February 2023 (the “2023 Repurchase Program”). For the fourth quarter through December 19, 2023, under the 2023 Repurchase Program, the Company repurchased 1,836,177 shares of common stock at a weighted average price per share of $27.23 for an aggregate dollar amount of $50.0 million. For the full year through December 19, 2023, under the 2023 Repurchase Program, the Company repurchased 6,301,275 shares of common stock at a weighted average price per share of $27.68 for an aggregate dollar amount of $174.4 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 and a recognized leader in customer experience, innovative design, and environmentally responsible business practices. The company builds premium homes and communities in 10 states, 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 one of the 2023 Fortune 100 Best Companies to Work For, and was designated as one of the 2023 PEOPLE Companies That Care. The company was also named as a Great Place To Work-Certified company for three years in a row (2021 through 2023), and was named on several Great Place to Work Best Workplaces lists in 2022 and 2023. For more information, please visit TriPointeHomes.com.