Zacks Investment Research Upgrades Howard Hughes (HHC) to “Buy”

Zacks Investment Research upgraded shares of Howard Hughes (NYSE:HHC) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. They currently have $125.00 price target on the financial services provider’s stock.

According to Zacks, “Howard Hughes Corporation operates as a real estate company engaged in the development of master planned communities and other strategic real estate development opportunities across the United States. The Company operates its business in two lines of business: Master Planned Communities and Strategic Development. Its Master Planned Communities segment consists of the development and sale of residential and commercial land, primarily in large-scale projects in and around Columbia, Maryland; Houston, Texas; and Las Vegas, Nevada. Its Strategic Development segment is made up of near, medium and long-term real estate properties and development projects. Howard Hughes Corporation is headquartered in Wacker Drive, Chicago. “

Separately, TheStreet raised shares of Howard Hughes from a c rating to a b- rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average price target of $151.25.

HHC opened at $103.98 on Tuesday. Howard Hughes has a fifty-two week low of $89.51 and a fifty-two week high of $142.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 78.77 and a beta of 1.26.

Howard Hughes (NYSE:HHC) last released its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.32. Howard Hughes had a net margin of 5.36% and a return on equity of 1.80%. The company had revenue of $353.89 million during the quarter, compared to analysts’ expectations of $292.82 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 118.9% on a year-over-year basis. As a group, equities analysts anticipate that Howard Hughes will post 1.11 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. PRW Wealth Management LLC purchased a new stake in shares of Howard Hughes during the fourth quarter worth about $49,000. Avestar Capital LLC increased its stake in shares of Howard Hughes by 49.5% during the fourth quarter. Avestar Capital LLC now owns 996 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 330 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Howard Hughes during the first quarter worth about $88,000. Squar Milner Financial Services LLC increased its stake in shares of Howard Hughes by 883.3% during the first quarter. Squar Milner Financial Services LLC now owns 885 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 795 shares in the last quarter. Finally, First Mercantile Trust Co. increased its stake in shares of Howard Hughes by 36.6% during the fourth quarter. First Mercantile Trust Co. now owns 1,790 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 480 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

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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