Toll Brothers Announces Upcoming Luxury Community, The Cove at Encinitas, in Southern California

Toll Brothers announces The Cove at Encinitas, a new luxury home community featuring 42 homes, opening early 2025.

Quiver AI Summary

Toll Brothers, Inc., a leader in luxury home building, has announced the upcoming launch of its new community, The Cove at Encinitas, located on La Costa Avenue in Encinitas, California, expected to open in early 2025. This exclusive neighborhood will consist of only 42 homes, featuring various floor plans ranging from 1,600 to over 4,000 square feet, with 3 to 5 bedrooms and 2.5 to 5.5 baths. Architectural styles will include coastal contemporary and modern farmhouse, emphasizing open-concept layouts and flexible living spaces. Homes start at $3.2 million, and buyers can personalize their homes at the Toll Brothers Design Studio. The community is conveniently located near South Ponto Beach and offers access to parks, trails, and local amenities. Toll Brothers has established a strong presence in San Diego and has received numerous industry accolades over the years.

Potential Positives

Toll Brothers announces the upcoming launch of The Cove at Encinitas, an exclusive community of 42 luxury homes, which signals continued expansion and investment in the high-end housing market.
The homes will feature diverse floor plans and unique architectural styles, catering to a range of buyer preferences and enhancing market appeal.
The community's prime location near the beach and proximity to various recreational amenities may attract affluent buyers, contributing to potential sales success.
The offering of a state-of-the-art Design Studio for personalized home selections adds value for buyers and differentiates Toll Brothers in the luxury home market.

Potential Negatives

Introducing a new luxury community amid economic uncertainties may raise concerns about market saturation or diminished demand for high-end homes.
The starting price of $3.2 million for homes might limit the target market, possibly resulting in slower sales than anticipated.
The announcement does not address how the company plans to handle potential competition from other luxury developments in the area, which could impact market share.

FAQ

What is The Cove at Encinitas?

The Cove at Encinitas is Toll Brothers' new luxury home community in Encinitas, California, featuring 42 exclusive homes.

When will The Cove at Encinitas open?

The Cove at Encinitas is expected to open in early 2025.

What home designs are available at The Cove at Encinitas?

Home designs include single- and two-story options with 3 to 5 bedrooms and 2.5 to 5.5 baths.

How much do homes at The Cove at Encinitas cost?

Homes at The Cove at Encinitas will be priced starting from $3.2 million.

What amenities are nearby The Cove at Encinitas?

Residents will enjoy proximity to beaches, parks, shopping, and recreational opportunities in Encinitas.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$TOL Insider Trading Activity

$TOL insiders have traded $TOL stock on the open market 18 times in the past 6 months. Of those trades, 0 have been purchases and 18 have been sales.

Here’s a breakdown of recent trading of $TOL stock by insiders over the last 6 months:

DOUGLAS C. JR. YEARLEY (Chief Executive Officer) has traded it 7 times. They made 0 purchases and 7 sales, selling 212,584 shares.
MARTIN P. CONNOR (Chief Financial Officer) has traded it 8 times. They made 0 purchases and 8 sales, selling 72,673 shares.
JOHN A MCLEAN sold 1,000 shares.
WENDELL E. PRITCHETT sold 3,000 shares.
ROBERT PARAHUS (President & COO) sold 6,900 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$TOL Hedge Fund Activity

We have seen 366 institutional investors add shares of $TOL stock to their portfolio, and 367 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

PACER ADVISORS, INC. removed 2,071,992 shares (-98.9%) from their portfolio in Q3 2024
FMR LLC added 1,046,758 shares (+97.7%) to their portfolio in Q3 2024
JPMORGAN CHASE & CO removed 821,081 shares (-46.8%) from their portfolio in Q3 2024
POINT72 ASSET MANAGEMENT, L.P. removed 796,068 shares (-82.6%) from their portfolio in Q3 2024
WESTFIELD CAPITAL MANAGEMENT CO LP added 722,130 shares (+inf%) to their portfolio in Q3 2024
HOLOCENE ADVISORS, LP removed 713,852 shares (-100.0%) from their portfolio in Q2 2024
DIMENSIONAL FUND ADVISORS LP removed 697,184 shares (-25.8%) from their portfolio in Q3 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

ENCINITAS, Calif., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its highly anticipated new community, The Cove at Encinitas , is coming soon to La Costa Avenue in Encinitas, California. This exclusive Toll Brothers neighborhood will feature a limited collection of just 42 homes and is expected to open in early 2025.

The Cove at Encinitas will offer distinctive floor plans with single- and two-story home designs, ranging from 1,600 to 4,000+ square feet. Home designs will include 3 to 5 bedrooms and 2.5 to 5.5 baths, with architectural styles including coastal contemporary, contemporary craftsman, and modern farmhouse. Each home will showcase an open-concept layout with a spacious kitchen, great room, and casual dining space, as well as unique bonus spaces including lofts, home offices, flex rooms, and bedrooms with en suite baths. Homes will be priced from $3.2 million.

Home buyers will experience one-stop shopping at the Toll Brothers Design Studio . The state-of-the-art Design Studio allows home buyers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.

“We are excited to bring this intimate enclave of luxury homes to the desirable coastal city of Encinitas,” said Brad Hare, Division President of Toll Brothers in Southern California. “With its prime location near the beach and exceptional design, The Cove at Encinitas will provide residents with the best of coastal living.”

Residents will enjoy the convenience of being within walking distance of South Ponto Beach, with cul-de-sac streets and two community pocket parks. The community is located near restaurants, shopping, and recreational opportunities, with six beaches within the city of Encinitas, numerous coastal viewpoints, 85 acres of open space, and 40 miles of trails. Residents will enjoy 19 parks nearby including three sports parks, a skatepark, and off-leash dog parks.

Additional Toll Brothers new home communities in the San Diego area include Everly at Civita and Mira Vista .

For more information and to join the Toll Brothers interest list for The Cove at Encinitas, call (844) 700-8655 or visit TollBrothers.com/CA .

About Toll Brothers

Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.

In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com .

Contact: Andrea Meck | Toll Brothers, Director, Public Relations & Social Media | 215-938-8169 | [email protected]

Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2599420f-f21e-4c1e-bf3c-f6cde4cc5078