Howard Hughes Corporation (The) (HHC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Howard Hughes Corporation (The) (NYSE:HHC) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday.

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, BidaskClub lowered shares of Howard Hughes Corporation (The) from a hold rating to a sell rating in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $144.33.

Howard Hughes Corporation (NYSE:HHC) traded up 1.17% during mid-day trading on Wednesday, hitting $123.04. The company had a trading volume of 79,740 shares. The firm has a market capitalization of $5.27 billion, a PE ratio of 87.76 and a beta of 1.41. The company’s 50 day moving average price is $117.12 and its 200-day moving average price is $121.58. Howard Hughes Corporation has a 12-month low of $101.20 and a 12-month high of $131.39.

Howard Hughes Corporation (The) (NYSE:HHC) last posted its quarterly earnings data on Monday, August 7th. The financial services provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.80). The firm had revenue of $308.60 million during the quarter, compared to analysts’ expectations of $217.47 million. Howard Hughes Corporation (The) had a net margin of 5.69% and a return on equity of 4.80%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. On average, analysts forecast that Howard Hughes Corporation will post $1.11 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of HHC. BlackRock Inc. increased its stake in shares of Howard Hughes Corporation (The) by 5,170.7% during the 1st quarter. BlackRock Inc. now owns 1,700,839 shares of the financial services provider’s stock worth $199,423,000 after purchasing an additional 1,668,569 shares during the last quarter. Caledonia Private Investments Pty Ltd increased its stake in shares of Howard Hughes Corporation (The) by 296.7% during the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 1,000,257 shares of the financial services provider’s stock worth $122,872,000 after purchasing an additional 748,116 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Howard Hughes Corporation (The) during the 2nd quarter worth approximately $37,023,000. Epoch Investment Partners Inc. purchased a new stake in shares of Howard Hughes Corporation (The) during the 1st quarter worth approximately $26,618,000. Finally, Vanguard Group Inc. increased its stake in shares of Howard Hughes Corporation (The) by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 2,777,784 shares of the financial services provider’s stock worth $325,695,000 after purchasing an additional 146,116 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

About Howard Hughes Corporation (The)

The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in the ownership, management and the redevelopment or repositioning of real estate assets, as well as other real estate opportunities in the form of entitled and unentitled land and other development rights, also called Strategic Developments.

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