Howard Hughes (HHC) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Howard Hughes (NYSE:HHC) from a strong sell rating to a hold rating in a research note released 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. “

Howard Hughes (NYSE:HHC) opened at $127.06 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $5,426.90, a price-to-earnings ratio of 59.37 and a beta of 1.41. Howard Hughes has a 1 year low of $104.63 and a 1 year high of $133.08.

In other news, Director Pershing Square Capital Manage sold 2,500,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $127.86, for a total transaction of $319,650,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 20.70% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. M&T Bank Corp boosted its holdings in shares of Howard Hughes by 1.3% during the second quarter. M&T Bank Corp now owns 2,825 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 35 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Howard Hughes by 0.3% during the second quarter. PNC Financial Services Group Inc. now owns 22,520 shares of the financial services provider’s stock worth $2,766,000 after purchasing an additional 77 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Howard Hughes by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,212 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 81 shares during the last quarter. Roundview Capital LLC boosted its holdings in shares of Howard Hughes by 0.4% during the second quarter. Roundview Capital LLC now owns 25,670 shares of the financial services provider’s stock worth $3,153,000 after purchasing an additional 90 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Howard Hughes by 4.3% during the second quarter. Oppenheimer & Co. Inc. now owns 4,109 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 85.26% of the company’s stock.

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About Howard Hughes

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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