Howard Hughes (NYSE:HHC) Cut to “Hold” at Zacks Investment Research

Howard Hughes (NYSE:HHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

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. “

Shares of Howard Hughes stock traded down $0.42 during trading on Friday, hitting $123.88. 130,949 shares of the company were exchanged, compared to its average volume of 266,922. The firm has a market capitalization of $5.37 billion, a P/E ratio of 47.65 and a beta of 1.31. Howard Hughes has a 1-year low of $91.82 and a 1-year high of $135.42. The firm’s fifty day moving average price is $122.09 and its 200 day moving average price is $122.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.81 and a quick ratio of 1.81.

Howard Hughes (NYSE:HHC) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.58. The company had revenue of $231.17 million during the quarter, compared to analyst estimates of $234.78 million. Howard Hughes had a return on equity of 3.38% and a net margin of 7.58%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. As a group, equities research analysts anticipate that Howard Hughes will post 0.92 earnings per share for the current year.

In other Howard Hughes news, Director Adam R. Flatto acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of $107.31 per share, for a total transaction of $321,930.00. Following the transaction, the director now owns 39,394 shares of the company’s stock, valued at $4,227,370.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah M. Vasquez sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $126.07, for a total value of $63,035.00. Following the completion of the transaction, the executive vice president now owns 6,661 shares of the company’s stock, valued at $839,752.27. The disclosure for this sale can be found here. Insiders have bought a total of 1,753,072 shares of company stock valued at $201,579,361 over the last 90 days. Corporate insiders own 7.45% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its position in shares of Howard Hughes by 2.9% in the 2nd quarter. US Bancorp DE now owns 4,300 shares of the financial services provider’s stock valued at $533,000 after purchasing an additional 120 shares during the period. NEXT Financial Group Inc grew its position in shares of Howard Hughes by 9.5% in the 4th quarter. NEXT Financial Group Inc now owns 1,827 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 158 shares during the period. Lindbrook Capital LLC grew its position in shares of Howard Hughes by 79.3% in the 3rd quarter. Lindbrook Capital LLC now owns 373 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 165 shares during the period. Independent Investors Inc. grew its position in shares of Howard Hughes by 0.6% in the 4th quarter. Independent Investors Inc. now owns 34,880 shares of the financial services provider’s stock valued at $4,422,000 after purchasing an additional 200 shares during the period. Finally, Pinnacle Financial Partners Inc. grew its position in shares of Howard Hughes by 9.5% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 2,389 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 84.79% of the company’s stock.

Howard Hughes Company 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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