Howard Hughes (NYSE:HHH) Given New $85.00 Price Target at Piper Sandler

Howard Hughes (NYSE:HHH) had its price objective reduced by Piper Sandler from $105.00 to $85.00 in a research report sent to investors on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on HHH. JPMorgan Chase & Co. decreased their price target on shares of Howard Hughes from $84.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. BMO Capital Markets decreased their price target on shares of Howard Hughes from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th.

Howard Hughes Trading Down 0.6%

HHH opened at $66.65 on Friday. Howard Hughes has a 1-year low of $59.83 and a 1-year high of $87.77. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.98. The company has a market cap of $3.36 billion, a P/E ratio of 44.14 and a beta of 1.21. The company has a fifty day moving average price of $69.30 and a two-hundred day moving average price of $75.12.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. Howard Hughes had a net margin of 6.57% and a return on equity of 3.38%. The firm had revenue of $199.33 million during the quarter, compared to the consensus estimate of $187.43 million. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Analysts predict that Howard Hughes will post 3.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HHH. Atomi Financial Group Inc. acquired a new position in shares of Howard Hughes during the fourth quarter valued at about $224,000. Janney Montgomery Scott LLC grew its holdings in shares of Howard Hughes by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,963 shares of the company’s stock valued at $305,000 after buying an additional 250 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Howard Hughes during the fourth quarter valued at about $511,000. KBC Group NV grew its holdings in shares of Howard Hughes by 40.1% during the fourth quarter. KBC Group NV now owns 1,572 shares of the company’s stock valued at $121,000 after buying an additional 450 shares during the last quarter. Finally, Institute for Wealth Management LLC. acquired a new position in shares of Howard Hughes during the fourth quarter valued at about $305,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.