Howard Hughes (HHC) Downgraded by TheStreet

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TheStreet cut shares of Howard Hughes (NYSE:HHC) from a b- rating to a c+ rating in a research report released on Tuesday, September 18th.

HHC has been the topic of several other reports. Citigroup decreased their price objective on shares of Howard Hughes from $160.00 to $157.00 and set a buy rating on the stock in a research note on Monday, August 13th. Sandler O’Neill raised shares of Howard Hughes from a hold rating to a buy rating and set a $150.00 price target on the stock in a research note on Friday, June 1st. Jefferies Financial Group reissued a $141.27 rating and set a $171.00 price target on shares of Howard Hughes in a research note on Wednesday, July 18th. Finally, Zacks Investment Research raised shares of Howard Hughes from a sell rating to a hold rating in a research note on Wednesday, July 4th. One research analyst has rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $159.33.

Howard Hughes stock traded up $0.09 during trading hours on Tuesday, hitting $114.59. 214,069 shares of the stock were exchanged, compared to its average volume of 253,890. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 73.93 and a beta of 1.18. Howard Hughes has a 12 month low of $113.89 and a 12 month high of $142.36.

Howard Hughes (NYSE:HHC) last issued its quarterly earnings data on Monday, August 6th. The financial services provider reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.34). The firm had revenue of $181.00 million for the quarter, compared to the consensus estimate of $165.87 million. Howard Hughes had a return on equity of 1.99% and a net margin of 17.29%. Howard Hughes’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, equities research analysts predict that Howard Hughes will post 1.65 EPS for the current year.

In other news, Director Pershing Square Capital Manage sold 51,660 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $126.13, for a total transaction of $6,515,875.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 91,098 shares of company stock worth $11,479,411 over the last three months. 10.10% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Becker Capital Management Inc. boosted its stake in Howard Hughes by 1.0% in the second quarter. Becker Capital Management Inc. now owns 418,720 shares of the financial services provider’s stock valued at $55,480,000 after acquiring an additional 4,056 shares during the last quarter. SG Americas Securities LLC bought a new position in Howard Hughes in the second quarter valued at approximately $243,000. Capital Growth Management LP bought a new position in Howard Hughes in the first quarter valued at approximately $18,087,000. Levin Capital Strategies L.P. acquired a new stake in Howard Hughes in the second quarter worth $397,000. Finally, Tdam USA Inc. raised its holdings in Howard Hughes by 6.4% in the first quarter. Tdam USA Inc. now owns 14,086 shares of the financial services provider’s stock worth $1,960,000 after purchasing an additional 850 shares during the period. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

Howard Hughes Company Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.

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