Howard Hughes (NYSE:HHH) Posts Earnings Results, Beats Expectations By $0.06 EPS

Howard Hughes (NYSE:HHH) announced its earnings results on Thursday. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06, FiscalAI reports. Howard Hughes had a return on equity of 5.43% and a net margin of 8.04%.The company had revenue of $235.92 million during the quarter. During the same quarter last year, the business posted $0.21 earnings per share. The business’s quarterly revenue was up 18.4% compared to the same quarter last year.

Howard Hughes Stock Up 3.7%

Shares of NYSE:HHH traded up $2.34 during trading on Friday, hitting $65.86. 583,094 shares of the company’s stock traded hands, compared to its average volume of 466,772. Howard Hughes has a 52 week low of $61.01 and a 52 week high of $91.07. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.73. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 32.29 and a beta of 1.15. The company has a 50-day moving average price of $65.11 and a 200-day moving average price of $76.24.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HHH. Wall Street Zen upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Finally, Zacks Research lowered Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Howard Hughes currently has a consensus rating of “Reduce” and an average target price of $85.00.

Insider Buying and Selling at Howard Hughes

In other Howard Hughes news, General Counsel Joseph Valane acquired 1,260 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $64.45 per share, for a total transaction of $81,207.00. Following the acquisition, the general counsel directly owned 29,209 shares of the company’s stock, valued at approximately $1,882,520.05. This trade represents a 4.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 48.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Howard Hughes

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Howard Hughes by 1,183.2% during the third quarter. SG Americas Securities LLC now owns 25,716 shares of the company’s stock worth $2,113,000 after purchasing an additional 23,712 shares during the last quarter. Northern Right Capital Management L.P. raised its position in Howard Hughes by 15.7% during the 3rd quarter. Northern Right Capital Management L.P. now owns 302,450 shares of the company’s stock valued at $24,852,000 after purchasing an additional 41,095 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Howard Hughes during the fourth quarter valued at approximately $511,000. TrueMark Investments LLC bought a new position in shares of Howard Hughes during the third quarter valued at approximately $1,318,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Howard Hughes by 98.3% during the third quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company’s stock valued at $45,757,000 after acquiring an additional 276,083 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

About Howard Hughes

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.