Greenleaf Trust Makes New Investment in The Howard Hughes Co. (NYSE:HHC)

Posted by Defense World Staff on Aug 29th, 2023

Greenleaf Trust purchased a new position in shares of The Howard Hughes Co. (NYSE:HHC – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,675 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other large investors also recently added to or reduced their stakes in HHC. Pershing Square Capital Management L.P. lifted its stake in Howard Hughes by 16.7% during the fourth quarter. Pershing Square Capital Management L.P. now owns 15,895,135 shares of the financial services provider’s stock worth $1,214,706,000 after purchasing an additional 2,274,971 shares in the last quarter. Norges Bank purchased a new stake in shares of Howard Hughes during the fourth quarter worth $27,698,000. Jennison Associates LLC increased its position in shares of Howard Hughes by 71.8% during the fourth quarter. Jennison Associates LLC now owns 498,440 shares of the financial services provider’s stock worth $38,091,000 after acquiring an additional 208,330 shares during the period. Natixis purchased a new stake in shares of Howard Hughes during the fourth quarter worth $14,153,000. Finally, American Century Companies Inc. increased its position in shares of Howard Hughes by 155.8% during the fourth quarter. American Century Companies Inc. now owns 222,198 shares of the financial services provider’s stock worth $16,980,000 after acquiring an additional 135,324 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Howard Hughes Stock Performance

NYSE:HHC opened at $78.76 on Tuesday. The firm has a market capitalization of $3.95 billion, a PE ratio of 32.68 and a beta of 1.47. The business’s fifty day moving average price is $80.42 and its 200 day moving average price is $78.82. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.55 and a quick ratio of 1.55. The Howard Hughes Co. has a 12 month low of $50.90 and a 12 month high of $89.58.

Howard Hughes (NYSE:HHC – Get Free Report) last posted its earnings results on Tuesday, August 8th. The financial services provider reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.18). The business had revenue of $223.32 million during the quarter, compared to analysts’ expectations of $217.65 million. Howard Hughes had a net margin of 7.72% and a return on equity of 3.33%. During the same period last year, the company earned $0.42 EPS. On average, sell-side analysts anticipate that The Howard Hughes Co. will post -1.2 earnings per share for the current fiscal year.

Insider Activity at Howard Hughes

In related news, Director Pershing Square Capital Manage acquired 666 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was bought at an average price of $74.90 per share, for a total transaction of $49,883.40. Following the completion of the purchase, the director now directly owns 16,569,728 shares of the company’s stock, valued at approximately $1,241,072,627.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 61,146 shares of company stock valued at $4,573,483 over the last quarter. 33.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com assumed coverage on Howard Hughes in a research report on Sunday. They set a “sell” rating on the stock. Piper Sandler cut their price objective on Howard Hughes from $100.00 to $95.00 in a research report on Wednesday, May 31st.

Check Out Our Latest Analysis on Howard Hughes

Howard Hughes Company Profile

(Free Report)

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use properties in the United States. It operates through four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment owns retail, office, multi-family, hospitality, and other operating properties and investments primarily located in Houston, Texas; Columbia, Maryland; Las Vegas, Nevada; and Honolulu, Hawaii.