TRI Pointe Group Inc.'s board authorized the repurchase of up to $100 million of common shares under a repurchase program that will run through March 31, 2019.

The program replaces the California-based homebuilder's existing share repurchase program, that had approximately $37.8 million remaining in authorized repurchases at the time of its cancellation.

According to a release. the company may repurchase the shares in open market deals conducted through a broker-dealer at prevailing market prices, in block trades or by other lawful means.