Howard Hughes (NYSE:HHC) Upgraded to “B-” by TheStreet

TheStreet upgraded shares of Howard Hughes (NYSE:HHC) from a c rating to a b- rating in a report published on Friday, April 26th, TheStreetRatingsTable reports.

Separately, Zacks Investment Research raised Howard Hughes from a hold rating to a buy rating and set a $121.00 price target on the stock in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Howard Hughes presently has a consensus rating of Buy and a consensus target price of $150.75.

Shares of Howard Hughes stock traded up $0.37 during midday trading on Friday, hitting $107.64. The company had a trading volume of 102,900 shares, compared to its average volume of 175,639. The company has a market capitalization of $4.63 billion, a P/E ratio of 81.55 and a beta of 1.26. Howard Hughes has a 52-week low of $89.51 and a 52-week high of $142.36. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.00.

Howard Hughes (NYSE:HHC) last released its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.32. The business had revenue of $353.89 million for the quarter, compared to analysts’ expectations of $292.82 million. Howard Hughes had a return on equity of 2.71% and a net margin of 6.95%. The firm’s quarterly revenue was up 118.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities analysts expect that Howard Hughes will post 2.65 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank lifted its holdings in shares of Howard Hughes by 34.4% during the 1st quarter. Comerica Bank now owns 93,268 shares of the financial services provider’s stock valued at $10,467,000 after buying an additional 23,872 shares during the period. Avestar Capital LLC raised its holdings in Howard Hughes by 49.5% in the 4th quarter. Avestar Capital LLC now owns 996 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 330 shares during the period. Pinnacle Financial Partners Inc. bought a new position in Howard Hughes in the 1st quarter worth $236,000. Marshall Wace North America L.P. bought a new position in Howard Hughes in the 3rd quarter worth $872,000. Finally, Creative Planning raised its holdings in Howard Hughes by 5.0% in the 4th quarter. Creative Planning now owns 7,121 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 340 shares during the period. 84.51% of the stock is currently owned by hedge funds and other institutional investors.

About Howard Hughes

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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