United Services Automobile Association reduced its stake in shares of Howard Hughes Corp (NYSE:HHC) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,994 shares of the financial services provider’s stock after selling 189 shares during the quarter. United Services Automobile Association’s holdings in Howard Hughes were worth $742,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of HHC. AdvisorNet Financial Inc grew its stake in Howard Hughes by 75.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 350 shares of the financial services provider’s stock worth $43,000 after buying an additional 150 shares during the last quarter. Sandy Spring Bank bought a new position in Howard Hughes during the 2nd quarter worth $49,000. NumerixS Investment Technologies Inc bought a new position in Howard Hughes during the 2nd quarter worth $62,000. Glassman Wealth Services grew its stake in Howard Hughes by 102.8% during the 2nd quarter. Glassman Wealth Services now owns 509 shares of the financial services provider’s stock worth $63,000 after buying an additional 258 shares during the last quarter. Finally, Bartlett & Co. LLC bought a new position in Howard Hughes during the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Separately, Zacks Investment Research upgraded Howard Hughes from a “strong sell” rating to a “hold” rating in a research note on Thursday.
Howard Hughes (NYSE:HHC) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Howard Hughes had a return on equity of 3.24% and a net margin of 7.03%. The company had revenue of $431.32 million during the quarter, compared to analysts’ expectations of $397.43 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was up 138.3% compared to the same quarter last year. On average, equities research analysts predict that Howard Hughes Corp will post 0.78 EPS for the current year.
Howard Hughes Profile
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.
Further Reading: Consumer behavior in bull markets
Want to see what other hedge funds are holding HHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howard Hughes Corp (NYSE:HHC).
Receive News & Ratings for Howard Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howard Hughes and related companies with MarketBeat.com's FREE daily email newsletter.