EJF Capital LLC Takes $1.24 Million Position in Howard Hughes Corp (NYSE:HHC)

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EJF Capital LLC acquired a new stake in shares of Howard Hughes Corp (NYSE:HHC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the financial services provider’s stock, valued at approximately $1,238,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parnassus Investments CA acquired a new position in Howard Hughes in the 2nd quarter worth approximately $49,482,000. Caledonia Private Investments Pty Ltd increased its holdings in Howard Hughes by 24.5% in the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 1,648,982 shares of the financial services provider’s stock worth $204,210,000 after buying an additional 324,348 shares during the period. Principal Financial Group Inc. increased its holdings in Howard Hughes by 16.7% in the 1st quarter. Principal Financial Group Inc. now owns 2,161,206 shares of the financial services provider’s stock worth $237,732,000 after buying an additional 309,546 shares during the period. PenderFund Capital Management Ltd. increased its holdings in Howard Hughes by 197.7% in the 2nd quarter. PenderFund Capital Management Ltd. now owns 314,605 shares of the financial services provider’s stock worth $13,179,000 after buying an additional 208,923 shares during the period. Finally, FMR LLC increased its holdings in Howard Hughes by 13.5% in the 1st quarter. FMR LLC now owns 826,538 shares of the financial services provider’s stock worth $90,920,000 after buying an additional 98,150 shares during the period. Hedge funds and other institutional investors own 84.20% of the company’s stock.

Howard Hughes stock traded up $2.01 during mid-day trading on Thursday, hitting $131.77. The company had a trading volume of 56,344 shares, compared to its average volume of 174,383. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.04. Howard Hughes Corp has a 12-month low of $89.51 and a 12-month high of $135.42. The company’s fifty day moving average is $129.16 and its 200-day moving average is $116.66. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 99.83 and a beta of 1.32.

Howard Hughes (NYSE:HHC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Howard Hughes had a return on equity of 3.24% and a net margin of 7.03%. The business had revenue of $431.32 million for the quarter, compared to analyst estimates of $397.43 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. The business’s quarterly revenue was up 138.3% compared to the same quarter last year. As a group, sell-side analysts expect that Howard Hughes Corp will post 0.45 EPS for the current fiscal year.

Several equities analysts recently weighed in on HHC shares. Zacks Investment Research downgraded shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. TheStreet lowered Howard Hughes from a “b-” rating to a “c” rating in a research report on Wednesday, May 29th.

About Howard Hughes

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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