PenderFund Capital Management Ltd. Has $15.14 Million Position in Howard Hughes Corp (HHC)

PenderFund Capital Management Ltd. increased its position in Howard Hughes Corp (NYSE:HHC) by 28.8% in the 1st quarter, HoldingsChannel reports. The fund owned 105,682 shares of the financial services provider’s stock after buying an additional 23,600 shares during the quarter. Howard Hughes makes up about 4.4% of PenderFund Capital Management Ltd.’s holdings, making the stock its 3rd largest holding. PenderFund Capital Management Ltd.’s holdings in Howard Hughes were worth $15,143,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HHC. PRW Wealth Management LLC bought a new position in Howard Hughes in the 4th quarter worth approximately $49,000. Avestar Capital LLC boosted its position in shares of Howard Hughes by 49.5% during the 4th quarter. Avestar Capital LLC now owns 996 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 330 shares during the last quarter. First Mercantile Trust Co. boosted its position in shares of Howard Hughes by 36.6% during the 4th quarter. First Mercantile Trust Co. now owns 1,790 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 480 shares during the last quarter. Keybank National Association OH boosted its position in shares of Howard Hughes by 9.3% during the 4th quarter. Keybank National Association OH now owns 2,131 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 181 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust boosted its position in shares of Howard Hughes by 10.0% during the 4th quarter. New Jersey Better Educational Savings Trust now owns 2,200 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 200 shares during the last quarter. 85.01% of the stock is owned by institutional investors.

Separately, Zacks Investment Research upgraded Howard Hughes from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $151.50.

Shares of NYSE HHC traded up $1.15 during midday trading on Tuesday, reaching $109.01. 5,378 shares of the stock traded hands, compared to its average volume of 179,476. The company has a market capitalization of $4.66 billion, a P/E ratio of 82.65 and a beta of 1.28. Howard Hughes Corp has a one year low of $89.51 and a one year high of $142.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.24 and a current ratio of 1.24.

Howard Hughes (NYSE:HHC) last issued its quarterly earnings results on Wednesday, February 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.40. The company had revenue of $464.69 million during the quarter, compared to the consensus estimate of $347.02 million. Howard Hughes had a return on equity of 1.80% and a net margin of 5.36%. Howard Hughes’s revenue was up 54.4% on a year-over-year basis. During the same period last year, the company earned $3.46 earnings per share. As a group, equities analysts predict that Howard Hughes Corp will post 1.11 EPS for the current fiscal year.

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Howard Hughes Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai‘i.

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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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