Howard Hughes (NYSE:HHH) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. lowered shares of Howard Hughes (NYSE:HHH) from an overweight rating to a neutral rating in a research report released on Monday morning, MarketBeat reports. They currently have $76.00 target price on the stock, down from their previous target price of $82.00.

Other analysts also recently issued research reports about the company. Piper Sandler cut their price objective on Howard Hughes from $105.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. BMO Capital Markets cut their price objective on Howard Hughes from $85.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th.

Howard Hughes Price Performance

NYSE HHH opened at $65.95 on Monday. The stock’s 50-day moving average price is $68.54 and its two-hundred day moving average price is $72.72. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.84. The company has a market cap of $3.32 billion, a PE ratio of 12.66 and a beta of 1.23. Howard Hughes has a 1 year low of $59.83 and a 1 year high of $87.77.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. The firm had revenue of $199.33 million for the quarter, compared to the consensus estimate of $187.43 million. Howard Hughes had a return on equity of 10.21% and a net margin of 14.27%. The company’s revenue was up 27.3% on a year-over-year basis. On average, analysts predict that Howard Hughes will post 3.7 EPS for the current year.

Hedge Funds Weigh In On Howard Hughes

Several institutional investors and hedge funds have recently bought and sold shares of HHH. Egerton Capital UK LLP grew its stake in Howard Hughes by 169.5% during the 1st quarter. Egerton Capital UK LLP now owns 1,196,288 shares of the company’s stock valued at $88,621,000 after acquiring an additional 752,325 shares in the last quarter. Norges Bank purchased a new position in Howard Hughes during the 4th quarter valued at about $29,287,000. T. Rowe Price Investment Management Inc. grew its stake in Howard Hughes by 48.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 828,317 shares of the company’s stock valued at $63,715,000 after acquiring an additional 269,402 shares in the last quarter. River Road Asset Management LLC grew its stake in Howard Hughes by 235.9% during the 4th quarter. River Road Asset Management LLC now owns 312,566 shares of the company’s stock valued at $24,043,000 after acquiring an additional 219,514 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Howard Hughes by 50.3% during the 4th quarter. American Century Companies Inc. now owns 624,769 shares of the company’s stock valued at $48,057,000 after acquiring an additional 209,217 shares in the last quarter. Hedge funds and other 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.