Howard Hughes (NYSE:HHH) Posts Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Howard Hughes (NYSE:HHH) issued its earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.21), Zacks reports. Howard Hughes had a net margin of 14.95% and a return on equity of 11.06%. The company had revenue of $624.45 million during the quarter. During the same period in the prior year, the firm posted $3.25 EPS. The firm’s quarterly revenue was down 36.5% compared to the same quarter last year.

Howard Hughes Trading Down 0.9%

Shares of HHH traded down $0.74 during trading hours on Thursday, hitting $82.29. 264,390 shares of the stock traded hands, compared to its average volume of 335,833. The business has a fifty day moving average of $81.52 and a 200-day moving average of $80.80. The firm has a market capitalization of $4.89 billion, a PE ratio of 16.04 and a beta of 1.24. Howard Hughes has a 1-year low of $61.40 and a 1-year high of $91.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.80.

Insider Buying and Selling

In other Howard Hughes news, Director R Scot Sellers acquired 5,000 shares of Howard Hughes stock in a transaction dated Tuesday, December 23rd. The stock was bought at an average cost of $77.94 per share, for a total transaction of $389,700.00. Following the purchase, the director directly owned 67,517 shares in the company, valued at approximately $5,262,274.98. This represents a 8.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Ann Tighe sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $88.83, for a total value of $532,980.00. Following the sale, the director owned 13,495 shares in the company, valued at approximately $1,198,760.85. This represents a 30.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 48.00% of the company’s stock.

Institutional Investors Weigh In On Howard Hughes

Several hedge funds have recently modified their holdings of HHH. Norges Bank acquired a new position in shares of Howard Hughes in the 4th quarter valued at about $31,957,000. Russell Investments Group Ltd. lifted its stake in Howard Hughes by 98.3% in the third quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company’s stock valued at $45,757,000 after buying an additional 276,083 shares during the period. Northern Right Capital Management L.P. bought a new position in shares of Howard Hughes during the 2nd quarter worth approximately $17,641,000. Crcm LP grew its position in shares of Howard Hughes by 82.5% during the 3rd quarter. Crcm LP now owns 560,713 shares of the company’s stock worth $46,074,000 after buying an additional 253,490 shares during the period. Finally, JCP Investment Management LLC increased its stake in shares of Howard Hughes by 1,711.0% in the 4th quarter. JCP Investment Management LLC now owns 181,100 shares of the company’s stock valued at $14,446,000 after acquiring an additional 171,100 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on HHH shares. Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research cut Howard Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Howard Hughes in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.33.

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.