Howard Hughes (NYSE:HHH) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. cut shares of Howard Hughes (NYSE:HHH - Free Report) from an overweight rating to a neutral rating in a research report released on Monday morning, MarketBeat.com reports. The brokerage currently has $76.00 price objective on the stock, down from their previous price objective of $82.00.

HHH has been the subject of several other research reports. BMO Capital Markets dropped their price target on shares of Howard Hughes from $85.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Piper Sandler reduced their target price on Howard Hughes from $105.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd.

Howard Hughes Trading Up 2.6%

HHH stock traded up $1.72 during midday trading on Monday, hitting $68.47. The stock had a trading volume of 610,027 shares, compared to its average volume of 488,658. Howard Hughes has a 12-month low of $59.83 and a 12-month high of $87.77. The company's 50-day moving average price is $68.48 and its 200 day moving average price is $72.80. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $3.45 billion, a PE ratio of 13.14 and a beta of 1.23.

Howard Hughes (NYSE:HHH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.08. The firm had revenue of $199.33 million for the quarter, compared to analyst estimates of $187.43 million. Howard Hughes had a return on equity of 10.21% and a net margin of 14.27%. The firm's revenue was up 27.3% on a year-over-year basis. On average, equities research analysts predict that Howard Hughes will post 3.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Howard Hughes

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its holdings in Howard Hughes by 910.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 394 shares of the company's stock valued at $29,000 after purchasing an additional 355 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Howard Hughes in the first quarter worth about $37,000. Larson Financial Group LLC grew its stake in shares of Howard Hughes by 2,290.9% in the first quarter. Larson Financial Group LLC now owns 526 shares of the company's stock valued at $39,000 after buying an additional 504 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Howard Hughes during the 4th quarter valued at about $40,000. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Howard Hughes by 14,500.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 876 shares of the company's stock valued at $65,000 after buying an additional 870 shares during the period. Hedge funds and other institutional investors own 93.83% of the company's stock.

Howard Hughes Company Profile

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.