Docoh
Loading...

GRBK Green Brick Partners

Green Brick Partners, Inc. is a diversified homebuilding and land development company. Green Brick owns four homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes and Trophy Signature Homes), as well as a controlling interest in homebuilders in Atlanta, Georgia (The Providence Group), Port St. Lucie, Florida (GHO Homes), and Dallas, Texas (Centre Living Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado and retains interests in related financial services platforms, including Green Brick Title, Providence Group Title, and Green Brick Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master planned communities.

Company profile

Ticker
GRBK
Exchange
CEO
James Brickman
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
BioFuel Energy Corp.
SEC CIK
Subsidiaries
CB JENI - Brick Row Townhomes, LLC • CB JENI - Chase Oaks Village II, LLC • CB JENI - Hemingway Court, LLC • CB JENI - Lake Vista Coppell, LLC • CB JENI - Settlement at Craig Ranch, LLC • CB JENI Acquisitions, LLC • CB JENI Apples Crossing, LLC • CB JENI Berkshire Place LLC • CB JENI Frisco Springs, LLC • CB JENI Homes DFW LLC ...
IRS number
205952523

GRBK stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

3 Aug 21
19 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 57.12M 57.12M 57.12M 57.12M 57.12M 57.12M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) 36.9M 10.22M
Cash used (since last report) n/a n/a n/a n/a 134.91M 37.36M
Cash remaining n/a n/a n/a n/a -77.8M 19.75M
Runway (months of cash) n/a n/a n/a n/a -2.1 1.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Aug 21 Olsen Kathleen Common Stock Buy Acquire P No No 25.54 4,700 120.04K 79,238
6 Aug 21 Olsen Kathleen Common Stock Buy Acquire P No No 25.41 5,000 127.05K 74,538
2 Jun 21 Harry Brandler Common Stock Grant Acquire A No No 0 4,616 0 22,274
2 Jun 21 Press Richard S Common Stock Grant Acquire A No No 0 4,616 0 100,897
2 Jun 21 Farris John R Common Stock Grant Acquire A No No 0 4,616 0 145,444
2 Jun 21 Blake Elizabeth Common Stock Grant Acquire A No No 0 9,232 0 181,364

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

81.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 154 153 +0.7%
Opened positions 30 33 -9.1%
Closed positions 29 24 +20.8%
Increased positions 52 65 -20.0%
Reduced positions 47 37 +27.0%
13F shares
Current Prev Q Change
Total value 945.78M 1.43B -33.8%
Total shares 41.55M 42.91M -3.2%
Total puts 108.6K 45.2K +140.3%
Total calls 137.2K 71.3K +92.4%
Total put/call ratio 0.8 0.6 +24.9%
Largest owners
Shares Value Change
Greenlight Capital 17.42M $396.1M 0.0%
BLK Blackrock 3.75M $85.33M -4.8%
Vanguard 1.9M $43.22M +1.0%
Dimensional Fund Advisors 1.64M $37.31M +2.5%
STT State Street 1.57M $35.72M +54.3%
Punch & Associates Investment Management 1.21M $27.52M -6.2%
Ranger Investment Management 1.1M $25.01M -1.8%
Prelude Capital Management 850K $19.33M 0.0%
Geode Capital Management 770.4K $17.52M +9.1%
Lord, Abbett & Co. 642.03K $14.6M +45.1%
Largest transactions
Shares Bought/sold Change
Assenagon Asset Management 292.94K -1.13M -79.3%
STT State Street 1.57M +552.94K +54.3%
Hillcrest Asset Management 476.02K +476.02K NEW
Millennium Management 21.34K -429.3K -95.3%
Penserra Capital Management 0 -274.78K EXIT
AMP Ameriprise Financial 612.45K +274.44K +81.2%
Two Sigma Investments 0 -234K EXIT
Granahan Investment Management 232.16K +232.16K NEW
SG Americas Securities 0 -217.83K EXIT
Arrowstreet Capital, Limited Partnership 84.2K -208.17K -71.2%

Financial report summary

?
Risks
  • The recent COVID-19 pandemic and resulting worldwide economic conditions are adversely affecting, and will continue to adversely affect, our business operations, financial condition, results of operations, and cash flows.
  • The homebuilding industry is cyclical. A severe downturn in the industry could adversely affect our business, results of operations and stockholders’ equity.
  • Our operating performance is subject to risks associated with the real estate industry.
  • Our business and financial results could be adversely affected by significant inflation or deflation.
  • We are dependent on the continued availability and satisfactory performance of subcontractors which, if unavailable, could have a material adverse effect on our business.
  • Labor and raw material shortages and price fluctuations could delay or increase the cost of land development and home construction, which could materially and adversely affect our business.
  • Failure to recruit, retain and develop highly skilled, competent employees may have a material adverse effect on our business and results of operations.
  • Our long-term success depends on our ability to acquire undeveloped land, partially finished developed lots and finished lots suitable for residential homebuilding at reasonable prices, in accordance with our land investment criteria.
  • If we are unable to develop communities successfully or within expected timeframes, our results of operations could be adversely affected.
  • We depend on the success of our partially owned controlled builders.
  • An integral component of our growth strategy is the use of controlled builders, joint ventures, partnerships and other strategic investments, and these counterparties’ interests may not be wholly aligned with ours or those of our investors.
  • If we are required to either repurchase or sell a substantial portion of the equity interest in our controlled homebuilding subsidiaries, our capital resources and liquidity could be adversely affected.
  • Our geographic concentration could materially and adversely affect us if the homebuilding industry in our current markets should decline.
  • Our developments are subject to government regulation, which could cause us to incur significant liabilities or restrict our business activities.
  • Changes in global or regional environmental conditions and governmental actions in response to such changes may adversely affect us by increasing the costs of or restricting our planned or future growth activities.
  • Our financial condition and results of operations may be adversely affected by and decrease in the value of our land or homes declines as well as the associated carrying costs.
  • Demand for our homes and lots is dependent on the cost and availability of mortgage financing.
  • Any increase in unemployment or underemployment may lead to an increase in the number of loan delinquencies and property repossessions, which would have an adverse impact on our business.
  • Increases in the after-tax costs of owning a home could prevent reduce demand for our homes and lots.
  • The occurrence of severe weather, natural disasters, acts of war or terrorism could increase our operating expenses and reduce our revenues and cash flows.
  • High cancellation rates may negatively impact our business.
  • We may not be able to compete effectively against competitors in the homebuilding, land development and financial services industries.
  • Our future growth may include additional strategic investments, joint ventures, partnerships and/or acquisitions of companies that may not be as successful as we anticipate and could disrupt our ongoing businesses and adversely affect our operations.
  • We are subject to environmental laws and regulations, which may increase our costs, limit the areas in which we can build homes and develop land and delay completion of our projects.
  • A major health and safety incident relating to our business could be costly in terms of potential liabilities and reputational damage.
  • Poor relations with the residents of our communities, or with local real estate agents, could negatively impact our home sales, which could cause our revenues or results of operations to decline.
  • Information technology failures and data security breaches could harm our business.
  • Product liability claims and litigation and warranty claims that arise in the ordinary course of business may be costly, which could adversely affect our business.
  • Our business is seasonal in nature, so our quarterly results of operations may fluctuate.
  • Shortages or extreme fluctuation in availability of natural resources and utilities could have an adverse effect on our operations.
  • Our business and financial results could be adversely affected by the failure of persons who act on our behalf to comply with applicable regulations and guidelines.
  • We may suffer uninsured losses or suffer material losses in excess of insurance limits.
  • Products supplied to us and work done by subcontractors can expose us to risks that could adversely affect our business.
  • Laws and regulations governing the residential mortgage industry could have an adverse effect on our business and financial results.
  • Difficulty in obtaining sufficient capital could result in an inability to acquire land for our developments or increased costs and delays in the completion of development projects.
  • The price of our common stock may continue to be volatile.
  • Certain large stockholders own a significant percentage of our shares and exert significant influence over us. Their interests may not coincide with ours and they may make decisions with which we may disagree.
  • We do not intend to pay dividends on our common stock for the foreseeable future.
  • Certain large stockholders’ shares have been and may in the future be sold into the market, which could cause the market price of our common stock to decrease significantly.
Management Discussion
  • The $170.3 million increase in residential units revenue was driven by the 28.4% increase in the number of homes delivered, which was primarily due to an organic increase in the number of active selling communities and an increase in our absorption rate for net new home orders per average active selling community during the year ended December 31, 2020. The
  • 4.4% decline in the average sales price of homes delivered for the year ended December 31, 2020 was attributable to our growth in revenues which was substantially from Trophy Signature Homes and CB JENI Homes—Townhome Division, that both sell homes at average sales prices that are below the average sales price for the Company.
  • Net new home orders increased by 50.0% over the prior year period. The increase reflects the strong performance of our new Trophy brand division, an 11.6% increase in average selling communities as well as the impact of macroeconomic factors such as low interest rates, an influx of millennial first-time buyers and demand for suburban homes from apartment dwellers in response to COVID-19. Our absorption rate per average active selling community increased 33.9% year over year. While uncertainty caused by COVID-19 dramatically slowed net new home orders in late March and April 2020, during May and June 2020, our sales rebounded. Our rate of sales accelerated in both the third and fourth quarters with an increase in net sales of 88.8.% and 43.7% over the corresponding periods in the prior year, respectively.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: AG, agent, Appointment, assumption, borrower, Branch, Cayman, Compensatory, consent, copy, Costello, death, Departure, disability, entirety, Exhibit, family, Flagstar, forma, FSB, Good, metered, metering, multi, pro, provision, replace, request, restated, retail, sequentially, Suisse, turn, unchanged, Veritex, zoned
Removed: achieving, application, CB, combination, discounted, disrupted, distancing, economy, evolve, full, input, jeni, leading, lower, measuring, observable, outbreak, rapidly, Signature, social