Howard Hughes (NYSE:HHC) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Howard Hughes (NYSE:HHC) from a strong-buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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. “

Separately, TheStreet lowered shares of Virtusa from a b- rating to a c+ rating in a research note on Wednesday, May 29th.

Shares of HHC opened at $129.61 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.36 and a quick ratio of 1.36. Howard Hughes has a 12-month low of $89.51 and a 12-month high of $142.36. The firm has a 50-day moving average price of $110.77. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 98.19 and a beta of 1.34.

Howard Hughes (NYSE:HHC) last announced its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.32. Howard Hughes had a net margin of 6.95% and a return on equity of 2.71%. The firm had revenue of $353.89 million during the quarter, compared to analyst estimates of $292.82 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Howard Hughes’s quarterly revenue was up 118.9% on a year-over-year basis. As a group, equities analysts anticipate that Howard Hughes will post 3.94 EPS for the current year.

A number of hedge funds have recently made changes to their positions in HHC. PRW Wealth Management LLC acquired a new stake in shares of Howard Hughes during the fourth quarter worth about $49,000. Atlas Capital Advisors LLC acquired a new stake in shares of Howard Hughes during the first quarter worth about $88,000. Squar Milner Financial Services LLC lifted its position in shares of Howard Hughes by 883.3% during the first quarter. Squar Milner Financial Services LLC now owns 885 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 795 shares in the last quarter. Avestar Capital LLC lifted its position in shares of Howard Hughes by 46.5% during the first quarter. Avestar Capital LLC now owns 1,459 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 463 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its position in shares of Howard Hughes by 23.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 2,206 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 423 shares in the last quarter. 83.93% of the stock is owned by institutional investors.

About Howard Hughes

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai‘i.

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