Howard Hughes (NYSE:HHC) Rating Increased to Hold at 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) traded down $1.64 during trading hours on Wednesday, hitting $124.68. 246,094 shares of the stock traded hands, compared to its average volume of 247,109. Howard Hughes has a one year low of $108.18 and a one year high of $133.08. The company has a market capitalization of $5,390.00, a P/E ratio of 84.82 and a beta of 1.37. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.99.

Howard Hughes (NYSE:HHC) last released its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.24 earnings per share 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%. The firm had revenue of $258.74 million for the quarter, compared to analysts’ expectations of $336.11 million. equities research analysts predict that Howard Hughes will post 0.72 earnings per share for the current year.

In other Howard Hughes news, Director Pershing Square Capital Manage sold 2,500,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $127.86, for a total value of $319,650,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 20.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of HHC. Schwab Charles Investment Management Inc. raised its position in shares of Howard Hughes by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 153,739 shares of the financial services provider’s stock valued at $18,886,000 after purchasing an additional 7,747 shares during the period. Legal & General Group Plc increased its holdings in Howard Hughes by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 18,361 shares of the financial services provider’s stock worth $2,256,000 after acquiring an additional 969 shares during the period. Prudential Financial Inc. increased its holdings in Howard Hughes by 27.3% during the 2nd quarter. Prudential Financial Inc. now owns 3,262 shares of the financial services provider’s stock worth $401,000 after acquiring an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Howard Hughes by 15.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,353 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 182 shares during the period. Finally, Swiss National Bank increased its holdings in Howard Hughes by 7.1% during the 2nd quarter. Swiss National Bank now owns 63,500 shares of the financial services provider’s stock worth $7,800,000 after acquiring an additional 4,200 shares during the period. 86.07% of the stock is currently owned by institutional investors.

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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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