Howard Hughes Co. (NYSE:HHC) Stake Increased by BlackRock Inc.

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.

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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.

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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.

Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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