Howard Hughes (NYSE:HHH) Rating Lowered to Sell at Wall Street Zen

Key Points

• Howard Hughes' stock rating has been dropped from "hold" to "sell" by Wall Street Zen, indicating a negative outlook for the company.
• Other analysts have also revised their target prices, with Piper Sandler lowering it from $105 to $85 and JPMorgan adjusting it from $82 to $76.
• The company reported a 27.3% increase in quarterly revenue year-over-year, reaching $199.33 million, with earnings per share beating expectations.

Howard Hughes (NYSE:HHH - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Several other brokerages have also recently issued reports on HHH. JPMorgan Chase & Co. cut shares of Howard Hughes from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $82.00 to $76.00 in a research report on Monday, June 23rd. Piper Sandler reduced their price target on shares of Howard Hughes from $105.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, BMO Capital Markets reduced their price target on shares of Howard Hughes from $85.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th.

Howard Hughes Trading Up 1.2%

NYSE HHH traded up $0.84 during trading hours on Friday, reaching $73.19. The company had a trading volume of 99,017 shares, compared to its average volume of 471,779. The stock has a 50-day moving average of $69.26 and a 200 day moving average of $70.81. Howard Hughes has a 1-year low of $61.40 and a 1-year high of $87.77. The company has a current ratio of 1.18, a quick ratio of 1.41 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $4.35 billion, a P/E ratio of 16.06 and a beta of 1.22.

Institutional Trading of Howard Hughes

A number of large investors have recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Howard Hughes by 15.5% during the second quarter. Huntington National Bank now owns 1,079 shares of the company's stock worth $73,000 after buying an additional 145 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Howard Hughes by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 33,098 shares of the company's stock worth $2,234,000 after buying an additional 160 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Howard Hughes by 1.2% during the first quarter. Proficio Capital Partners LLC now owns 14,744 shares of the company's stock worth $1,089,000 after buying an additional 170 shares during the period. Wells Fargo & Company MN increased its stake in shares of Howard Hughes by 1.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,707 shares of the company's stock worth $824,000 after buying an additional 173 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Howard Hughes by 4.1% during the second quarter. Teacher Retirement System of Texas now owns 4,962 shares of the company's stock worth $335,000 after buying an additional 197 shares during the period. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

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.