Howard Hughes (NYSE:HHC) Stock Rating Upgraded by Zacks Investment Research

Howard Hughes (NYSE:HHC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, January 10th.

According to Zacks, “Howard Hughes Corporation operates as a real estate company engaged in the development of master planned communities and other strategic real estate development opportunities across the United States. The Company operates its business in two lines of business: Master Planned Communities and Strategic Development. Its Master Planned Communities segment consists of the development and sale of residential and commercial land, primarily in large-scale projects in and around Columbia, Maryland; Houston, Texas; and Las Vegas, Nevada. Its Strategic Development segment is made up of near, medium and long-term real estate properties and development projects. Howard Hughes Corporation is headquartered in Wacker Drive, Chicago. “

Howard Hughes (HHC) opened at $127.01 on Wednesday. Howard Hughes has a 52-week low of $104.63 and a 52-week high of $133.08. The company has a market capitalization of $5,469.82, a price-to-earnings ratio of 86.99 and a beta of 1.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.74 and a current ratio of 1.74.

Howard Hughes (NYSE:HHC) last released its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.50). Howard Hughes had a return on equity of 3.27% and a net margin of 5.83%. equities research analysts predict that Howard Hughes will post 0.72 EPS for the current year.

In related news, Director Pershing Square Capital Manage sold 2,500,000 shares of Howard Hughes stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $127.86, for a total value of $319,650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its holdings in Howard Hughes by 65.7% in the third quarter. BNP Paribas Arbitrage SA now owns 1,011 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 401 shares during the period. Fiduciary Trust Co. acquired a new stake in Howard Hughes in the second quarter valued at $123,000. The Manufacturers Life Insurance Company raised its stake in Howard Hughes by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,212 shares of the financial services provider’s stock valued at $149,000 after buying an additional 81 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Howard Hughes by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,353 shares of the financial services provider’s stock valued at $166,000 after buying an additional 182 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Howard Hughes by 81.8% in the second quarter. Advisor Group Inc. now owns 1,445 shares of the financial services provider’s stock valued at $178,000 after buying an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

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Howard Hughes Company Profile

The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in the ownership, management and the redevelopment or repositioning of real estate assets, as well as other real estate opportunities in the form of entitled and unentitled land and other development rights, also called Strategic Developments.

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