State of New Jersey Common Pension Fund D Cuts Position in Howard Hughes Holdings Inc. $HHH

Key Points

• State of New Jersey Common Pension Fund D cut its stake by 17.0%, selling 29,290 shares to hold 143,025 shares (~$11.41M); overall 93.83% of HHH is held by institutional investors while insiders hold 48.00%.
• Howard Hughes missed earnings — Q EPS $0.10 versus $0.31 expected and revenue fell 36.5% year‑over‑year, with the stock trading around $62 and a 52‑week range of $61.01–$91.07.
• Analysts have been downgrading the stock (including Wall Street Zen, Zacks and Weiss), leaving an average MarketBeat rating of "Hold" and an average price target of $83.33.

State of New Jersey Common Pension Fund D cut its stake in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,025 shares of the company's stock after selling 29,290 shares during the period. State of New Jersey Common Pension Fund D owned about 0.24% of Howard Hughes worth $11,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Howard Hughes by 1,183.2% in the 3rd quarter. SG Americas Securities LLC now owns 25,716 shares of the company's stock worth $2,113,000 after buying an additional 23,712 shares during the period. Northern Right Capital Management L.P. lifted its holdings in Howard Hughes by 15.7% in the 3rd quarter. Northern Right Capital Management L.P. now owns 302,450 shares of the company's stock worth $24,852,000 after buying an additional 41,095 shares during the period. Brighton Jones LLC purchased a new stake in Howard Hughes in the 4th quarter worth approximately $511,000. TrueMark Investments LLC purchased a new stake in Howard Hughes in the 3rd quarter worth approximately $1,318,000. Finally, Russell Investments Group Ltd. lifted its holdings in Howard Hughes by 98.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company's stock worth $45,757,000 after buying an additional 276,083 shares during the period. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen cut Howard Hughes from a "hold" rating to a "sell" rating in a report on Saturday, April 25th. Zacks Research cut Howard Hughes from a "hold" rating to a "strong sell" rating in a report on Friday, April 24th. Finally, Weiss Ratings cut Howard Hughes from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.33.

Insider Activity at Howard Hughes

In other news, General Counsel Joseph Valane bought 1,260 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $64.45 per share, for a total transaction of $81,207.00. Following the purchase, the general counsel directly owned 29,209 shares in the company, valued at $1,882,520.05. This trade represents a 4.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.00% of the stock is currently owned by insiders.

Howard Hughes Trading Up 0.2%

HHH opened at $62.37 on Friday. The stock has a market cap of $3.72 billion, a PE ratio of 29.56 and a beta of 1.28. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average of $65.69 and a 200-day moving average of $76.63. Howard Hughes Holdings Inc. has a 52 week low of $61.01 and a 52 week high of $91.07.

Howard Hughes (NYSE:HHH - Get Free Report) last released its earnings results on Thursday, February 19th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.21). The firm had revenue of $624.45 million during the quarter. Howard Hughes had a net margin of 8.40% and a return on equity of 5.54%. The firm's revenue for the quarter was down 36.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.25 EPS. Equities research analysts predict that Howard Hughes Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

About Howard Hughes

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.

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