BlackRock Inc. increased its stake in Howard Hughes Co. (NYSE:HHC) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,615,141 shares of the financial services provider’s stock after buying an additional 9,063 shares during the quarter. BlackRock Inc. owned about 3.76% of Howard Hughes worth $212,019,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of HHC. Schroder Investment Management Group lifted its position in shares of Howard Hughes by 6.6% during the fourth quarter. Schroder Investment Management Group now owns 268,783 shares of the financial services provider’s stock worth $35,283,000 after purchasing an additional 16,612 shares during the last quarter. Keybank National Association OH purchased a new position in shares of Howard Hughes during the fourth quarter valued at $211,000. Forsta AP Fonden purchased a new position in shares of Howard Hughes during the fourth quarter valued at $1,273,000. Roundview Capital LLC increased its stake in shares of Howard Hughes by 2.4% during the fourth quarter. Roundview Capital LLC now owns 38,945 shares of the financial services provider’s stock valued at $5,112,000 after buying an additional 915 shares during the period. Finally, Wealthstreet Investment Advisors LLC purchased a new position in shares of Howard Hughes during the fourth quarter valued at $1,718,000. Institutional investors own 83.89% of the company’s stock.
HHC has been the topic of several research reports. Zacks Investment Research lowered Howard Hughes from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. TheStreet upgraded Howard Hughes from a “c” rating to a “b-” rating in a research note on Wednesday, March 28th. Finally, Sandler O’Neill set a $140.00 target price on Howard Hughes and gave the company a “hold” rating in a research note on Thursday, March 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $145.00.
In other Howard Hughes news, CEO David Weinreb sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $138.46, for a total value of $55,384,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Reuben Seth Davidsohn sold 9,445 shares of the business’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $137.10, for a total value of $1,294,909.50. Following the completion of the transaction, the insider now directly owns 37,175 shares of the company’s stock, valued at $5,096,692.50. The disclosure for this sale can be found here. Insiders have sold 416,945 shares of company stock valued at $57,689,910 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.
Shares of HHC stock traded down $2.37 during trading hours on Friday, reaching $136.60. 248,583 shares of the company’s stock were exchanged, compared to its average volume of 276,552. Howard Hughes Co. has a 1 year low of $114.28 and a 1 year high of $140.38. The firm has a market capitalization of $6,024.60, a price-to-earnings ratio of 88.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.04 and a current ratio of 2.04.
Howard Hughes (NYSE:HHC) last released its earnings results on Monday, February 26th. The financial services provider reported $3.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $3.19. Howard Hughes had a return on equity of 2.52% and a net margin of 15.31%. The firm had revenue of $300.98 million during the quarter, compared to the consensus estimate of $239.83 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. equities analysts forecast that Howard Hughes Co. will post 1.1 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “Howard Hughes Co. (NYSE:HHC) Stake Increased by BlackRock Inc.” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/07/blackrock-inc-purchases-9063-shares-of-howard-hughes-corp-hhc.html.
About Howard Hughes
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.
Receive News & Ratings for Howard Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howard Hughes and related companies with MarketBeat.com's FREE daily email newsletter.