Howard Hughes (NYSE:HHH) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Howard Hughes (NYSE:HHH) issued its quarterly earnings data on Thursday. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06, FiscalAI reports. The firm had revenue of $235.92 million during the quarter. Howard Hughes had a return on equity of 5.43% and a net margin of 8.04%.Howard Hughes’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share.

Howard Hughes Price Performance

HHH stock traded up $2.34 during trading on Friday, hitting $65.86. The company had a trading volume of 583,094 shares, compared to its average volume of 466,772. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 32.29 and a beta of 1.15. The business has a 50 day moving average of $65.11 and a 200 day moving average of $76.24. Howard Hughes has a fifty-two week low of $61.01 and a fifty-two week high of $91.07. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.73.

Insiders Place Their Bets

In other news, General Counsel Joseph Valane acquired 1,260 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $64.45 per share, with a total value of $81,207.00. Following the purchase, the general counsel owned 29,209 shares of the company’s stock, valued at approximately $1,882,520.05. This represents a 4.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 48.00% of the stock is owned by insiders.

Institutional Trading of Howard Hughes

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Howard Hughes in the 3rd quarter worth $31,000. Signaturefd LLC raised its holdings in shares of Howard Hughes by 41.5% during the fourth quarter. Signaturefd LLC now owns 423 shares of the company’s stock worth $34,000 after acquiring an additional 124 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Howard Hughes by 191.5% during the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock worth $35,000 after acquiring an additional 339 shares in the last quarter. Huntington National Bank raised its holdings in shares of Howard Hughes by 134.1% during the fourth quarter. Huntington National Bank now owns 494 shares of the company’s stock worth $39,000 after acquiring an additional 283 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Howard Hughes during the fourth quarter worth $43,000. Institutional investors own 93.83% of the company’s stock.

Analysts Set New Price Targets

HHH has been the subject of a number of recent research reports. Wall Street Zen upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Finally, Zacks Research downgraded Howard Hughes from a “hold” rating to a “strong sell” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $85.00.

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. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.