Howard Hughes (HHC) Given “Buy” Rating at Citigroup

Citigroup restated their buy rating on shares of Howard Hughes (NYSE:HHC) in a research report sent to investors on Wednesday morning. The firm currently has a $160.00 target price on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on HHC. Zacks Investment Research upgraded Howard Hughes from a sell rating to a hold rating in a research note on Wednesday, May 2nd. TheStreet upgraded Howard Hughes from a c rating to a b- rating in a research note on Wednesday, March 28th. Finally, Sandler O’Neill upgraded Howard Hughes from a hold rating to a buy rating and set a $150.00 target price for the company in a research note on Friday, June 1st. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $155.00.

Howard Hughes opened at $132.50 on Wednesday, according to MarketBeat. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.60 and a quick ratio of 1.60. Howard Hughes has a fifty-two week low of $114.28 and a fifty-two week high of $140.38. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 85.48 and a beta of 1.12.

Howard Hughes (NYSE:HHC) last released its earnings results on Tuesday, May 1st. The financial services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.46). Howard Hughes had a return on equity of 2.29% and a net margin of 15.94%. The business had revenue of $161.68 million for the quarter, compared to the consensus estimate of $266.77 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 30.2% on a year-over-year basis. analysts predict that Howard Hughes will post -0.37 EPS for the current fiscal year.

In other news, insider Reuben Seth Davidsohn sold 9,445 shares of the stock in a transaction on Tuesday, April 3rd. The stock was 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 in the company, valued at approximately $5,096,692.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Weinreb sold 400,000 shares of the stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $138.46, for a total value of $55,384,000.00. The disclosure for this sale can be found here. 10.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HHC. California Public Employees Retirement System lifted its stake in shares of Howard Hughes by 2.7% in the 4th quarter. California Public Employees Retirement System now owns 80,633 shares of the financial services provider’s stock valued at $10,585,000 after acquiring an additional 2,121 shares during the last quarter. Keybank National Association OH bought a new position in shares of Howard Hughes in the 4th quarter valued at $211,000. BlackRock Inc. lifted its stake in shares of Howard Hughes by 0.6% in the 4th quarter. BlackRock Inc. now owns 1,615,141 shares of the financial services provider’s stock valued at $212,019,000 after acquiring an additional 9,063 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Howard Hughes by 1.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 29,780 shares of the financial services provider’s stock valued at $3,909,000 after acquiring an additional 422 shares during the last quarter. Finally, Royce & Associates LP bought a new position in shares of Howard Hughes in the 4th quarter valued at $656,000. Institutional investors own 89.30% of the company’s stock.

Howard Hughes Company Profile

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.

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