Beach Investment Counsel Inc. PA Grows Stock Position in Howard Hughes Holdings Inc. (NYSE:HHH)

Beach Investment Counsel Inc. PA increased its holdings in shares of Howard Hughes Holdings Inc. (NYSE:HHH) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,698 shares of the company’s stock after buying an additional 6,326 shares during the quarter. Howard Hughes comprises approximately 1.2% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 23rd biggest holding. Beach Investment Counsel Inc. PA owned approximately 0.22% of Howard Hughes worth $8,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in Howard Hughes during the fourth quarter worth about $40,000. Huntington National Bank increased its stake in Howard Hughes by 335.5% during the fourth quarter. Huntington National Bank now owns 932 shares of the company’s stock worth $72,000 after acquiring an additional 718 shares during the last quarter. KBC Group NV increased its stake in Howard Hughes by 40.1% during the fourth quarter. KBC Group NV now owns 1,572 shares of the company’s stock worth $121,000 after acquiring an additional 450 shares during the last quarter. US Bancorp DE increased its stake in Howard Hughes by 30.7% during the fourth quarter. US Bancorp DE now owns 1,783 shares of the company’s stock worth $137,000 after acquiring an additional 419 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Howard Hughes by 759.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,725 shares of the company’s stock worth $210,000 after acquiring an additional 2,408 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Howard Hughes Price Performance

HHH stock opened at $68.70 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.08 and a current ratio of 1.08. Howard Hughes Holdings Inc. has a 1 year low of $59.83 and a 1 year high of $87.77. The firm has a market cap of $3.46 billion, a P/E ratio of 45.50 and a beta of 1.23. The stock has a 50-day simple moving average of $67.89 and a 200-day simple moving average of $74.12.

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

Analyst Ratings Changes

HHH has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on 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 lowered their target price on Howard Hughes from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Piper Sandler lowered their target price on Howard Hughes from $105.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd.

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.