Money Investor
Long/short equity

TRI Pointe Homes: A Small Builder With Big Upside

TRI Pointe Homes (NYSE:TPH) became the first homebuilder to complete an IPO since 2004 when the company went public in January 2013. TRI Pointe is an extremely small homebuilder in terms of volume, or homes sold, compared to its public brethren. However, it is this size and the company's focus on a relatively small geographic area for its operations which makes for such a compelling investment. The company is flush with cash after its IPO, unburdened by the legacy land assets that many homebuilders still carry today, and operating in the hottest housing markets in the US. TRI Pointe is also one of, it not the cheapest homebuilders in the entire sector and should trade at least...

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