BlackRock Inc. bought a new position in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,619,333 shares of the company's stock, valued at approximately $115,766,000. BlackRock Inc. owned approximately 2.72% of Howard Hughes at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Howard Hughes during the 4th quarter worth about $31,957,000. Flat Footed LLC bought a new stake in Howard Hughes during the first quarter worth $13,619,000. Dimensional Fund Advisors LP lifted its stake in Howard Hughes by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company's stock valued at $178,549,000 after acquiring an additional 208,617 shares during the last quarter. JCP Investment Management LLC grew its position in shares of Howard Hughes by 1,711.0% in the 4th quarter. JCP Investment Management LLC now owns 181,100 shares of the company's stock valued at $14,446,000 after acquiring an additional 171,100 shares during the period. Finally, Millennium Management LLC grew its position in shares of Howard Hughes by 2,368.8% in the 1st quarter. Millennium Management LLC now owns 165,926 shares of the company's stock valued at $12,292,000 after acquiring an additional 159,205 shares during the period. 93.83% of the stock is currently owned by institutional investors.
Howard Hughes Stock Down 0.2%
HHH opened at $64.80 on Friday. The stock has a fifty day moving average of $68.53 and a 200-day moving average of $67.55. The company has a market capitalization of $3.87 billion, a P/E ratio of 13.12 and a beta of 1.14. Howard Hughes Holdings Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $91.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.58 and a current ratio of 1.58.
Howard Hughes (NYSE:HHH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $0.49 by $2.19. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The business had revenue of $1.12 billion during the quarter. During the same quarter last year, the firm earned ($0.22) EPS. Howard Hughes's revenue for the quarter was up 330.2% compared to the same quarter last year. On average, equities analysts expect that Howard Hughes Holdings Inc. will post 2.77 EPS for the current year.
Wall Street Analyst Weigh In
HHH has been the subject of several research analyst reports. Weiss Ratings upgraded Howard Hughes from a "sell (d)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Howard Hughes from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Zacks Research downgraded Howard Hughes from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $79.00.
View Our Latest Research Report on HHH
Insiders Place Their Bets
In other Howard Hughes news, Director Mary Ann Tighe sold 13,495 shares of Howard Hughes stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total value of $907,538.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 47.70% of the stock is owned by corporate insiders.
About Howard Hughes
(
Free Report)
Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.
Further Reading
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