Bank of New York Mellon Corp trimmed its position in shares of Howard Hughes Corporation (The) (NYSE:HHC) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,035 shares of the financial services provider’s stock after selling 1,153 shares during the period. Bank of New York Mellon Corp owned about 0.32% of Howard Hughes Corporation (The) worth $15,606,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its holdings in shares of Howard Hughes Corporation (The) by 8.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,060 shares of the financial services provider’s stock valued at $376,000 after buying an additional 227 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Howard Hughes Corporation (The) by 5.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,739 shares of the financial services provider’s stock valued at $18,886,000 after buying an additional 7,747 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Howard Hughes Corporation (The) by 357.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 96,000 shares of the financial services provider’s stock valued at $11,793,000 after buying an additional 75,000 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Howard Hughes Corporation (The) during the 2nd quarter valued at about $369,000. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Howard Hughes Corporation (The) during the 2nd quarter valued at about $122,000. 83.87% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on HHC. BWS Financial began coverage on Howard Hughes Corporation (The) in a report on Thursday, June 8th. They set a “buy” rating and a $150.00 price objective on the stock. BidaskClub raised Howard Hughes Corporation (The) from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Zacks Investment Research cut Howard Hughes Corporation (The) from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $144.33.

Howard Hughes Corporation (HHC) opened at 115.26 on Thursday. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 82.21 and a beta of 1.43. Howard Hughes Corporation has a 52-week low of $101.20 and a 52-week high of $131.39. The company’s 50-day moving average price is $118.93 and its 200 day moving average price is $121.48.

Howard Hughes Corporation (The) (NYSE:HHC) last issued its quarterly earnings data on Monday, August 7th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.80). Howard Hughes Corporation (The) had a net margin of 5.69% and a return on equity of 4.80%. The company had revenue of $308.60 million for the quarter, compared to analysts’ expectations of $217.47 million. During the same quarter last year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that Howard Hughes Corporation will post $1.11 EPS for the current fiscal year.

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About Howard Hughes Corporation (The)

The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in the ownership, management and the redevelopment or repositioning of real estate assets, as well as other real estate opportunities in the form of entitled and unentitled land and other development rights, also called Strategic Developments.

Institutional Ownership by Quarter for Howard Hughes Corporation (The) (NYSE:HHC)

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