Green Brick Partners Inc Stock Price, News & Analysis

Green Brick Partners reported record financial results for Q4 2021, with total revenues of $452.3 million, reflecting a 78% increase year-over-year. The company achieved an income before taxes of $82.6 million, up 117.6%, and a full-year income before taxes of $257 million, marking a 79.9% rise. They enhanced their operational efficiency, as indicated by a 350 bps improvement in SG&A expenses to 8.8%. Notably, lots owned and controlled surged 97.8%, supporting future growth and stability.

Green Brick Partners, Inc. (NYSE: GRBK) announced it will release its financial results for Q4 and fiscal year 2021 on March 1, 2022, after market close. The results will be discussed in an earnings call led by CEO Jim Brickman at 12:00 p.m. ET on March 2, 2022. The call will be accessible via the company's website and through designated dial-in numbers. Green Brick, recognized by Fortune Magazine as a top growth company, operates various homebuilder brands across major U.S. markets.

Green Brick Partners announced its expansion into the Austin, Texas housing market under the Trophy Signature Homes brand, known for affordable, energy-efficient homes. The Company has acquired 383 acres in Elgin, Texas, for its first Austin community, Trinity Ranch, which will feature over 1,700 homes, including 850 from Trophy Signature Homes. Construction is expected to begin in early 2023, with sales projected to start in spring 2023. This move aims to address the limited inventory of entry-level homes in the region.

Green Brick Partners (NYSE: GRBK) has announced a public offering of 2,000,000 depositary shares, priced at $25.00 each, raising $50 million before expenses. The offering is set to close around December 23, 2021. Each depositary share represents a 1/1000th interest in the Company’s 5.75% Series A Cumulative Perpetual Preferred Stock, with dividends to be paid at the discretion of the Board. The net proceeds will support general corporate purposes, including business expansion and debt repayment. The shares will trade under the symbol “GRBK PRA.”

Green Brick Partners, Inc. (GRBK) has initiated a public offering of 2,000,000 depositary shares of its Series A Cumulative Perpetual Preferred Stock, targeting gross proceeds of $50 million, subject to market conditions. Each depositary share represents a fractional interest in a preferred stock with a liquidation preference of $25. The proceeds are planned for general corporate purposes, repurchasing common stock, and debt repayment. BTIG, LLC serves as the lead manager for the offering.

Green Brick Partners, Inc. (NYSE: GRBK) announced the locking of a 3.25% fixed interest rate on $100 million of senior unsecured notes due in 2029. This oversubscribed issuance is part of a trend following previous notes totaling $237.5 million issued in recent years. The funds will primarily be used to repay existing revolving credit and for general corporate purposes. Additionally, the Company expanded its line of credit by $130 million, now totaling $300 million, with commitments extended until December 2024. This reflects confidence in the Company’s growth potential and financial strength.

Intercontinental Exchange (NYSE: ICE) announced that Green Brick Partners (NYSE: GRBK) has successfully transferred its listing to the NYSE, starting today. This move allows Green Brick to access the benefits of the NYSE community, including advanced market technology and enhanced visibility. The Chief Financial Officer of Green Brick emphasized that this transition will help increase their presence in the investment community and deliver long-term value to shareholders. Since 2000, nearly 300 companies have made similar switches to the NYSE.

Green Brick Partners will commemorate its NYSE listing by ringing the Closing Bell on December 13, 2021. Jim Brickman, CEO, expressed gratitude for shareholder support and highlighted the firm’s record third-quarter performance, achieving $338.9 million in home closings revenue and a 101.8% increase in lots owned. With five subsidiary builders in Texas and strategic interests in Georgia and Florida, Green Brick is positioned to enhance its visibility and growth in the investment community.

Green Brick Partners is transitioning its common stock listing from the Nasdaq Stock Market to the New York Stock Exchange (NYSE), effective December 13, 2021. The company will maintain its ticker symbol 'GRBK' during this transfer. According to CFO Richard Costello, this move aims to enhance visibility within the investment community and is expected to provide long-term value for shareholders. The NYSE hosts a significant number of Fortune 500 companies and is recognized as the primary exchange for homebuilders and building materials firms.