The Howard Hughes (NYSE:HHC) Lowered to “Hold” at Zacks Investment Research

The Howard Hughes (NYSE:HHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

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. “

The Howard Hughes stock traded down $0.46 during trading hours on Monday, hitting $87.25. The stock had a trading volume of 254,396 shares, compared to its average volume of 266,311. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $4.81 billion, a P/E ratio of 68.16 and a beta of 1.52. The Howard Hughes has a 12-month low of $53.55 and a 12-month high of $113.20. The stock’s 50-day moving average price is $90.42 and its 200-day moving average price is $97.55.

The Howard Hughes (NYSE:HHC) last issued its earnings results on Wednesday, August 4th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.50. The Howard Hughes had a net margin of 9.25% and a return on equity of 3.19%. On average, research analysts expect that The Howard Hughes will post 0.28 EPS for the current fiscal year.

In other The Howard Hughes news, EVP David Michael Striph sold 1,422 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $87.93, for a total transaction of $125,036.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pershing Square Capital Manage bought 150,156 shares of The Howard Hughes stock in a transaction on Friday, September 3rd. The shares were acquired at an average cost of $92.00 per share, with a total value of $13,814,352.00. The disclosure for this purchase can be found here. 25.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Evoke Wealth LLC bought a new position in shares of The Howard Hughes during the first quarter worth $26,000. Allred Capital Management LLC purchased a new stake in The Howard Hughes during the first quarter valued at $37,000. Metropolitan Life Insurance Co NY purchased a new stake in The Howard Hughes during the second quarter valued at $84,000. Captrust Financial Advisors raised its stake in The Howard Hughes by 27,600.0% during the first quarter. Captrust Financial Advisors now owns 1,108 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Clearstead Advisors LLC purchased a new stake in The Howard Hughes during the first quarter valued at $125,000. Hedge funds and other institutional investors own 91.90% of the company’s stock.

About The Howard Hughes

The Howard Hughes Corp. engages in the development and management of commercial, residential, and mixed-use real estate. It operates through the following segments: Operating Assets, Master Planned Communities; Seaport District; and Strategic Developments. The Operating Assets segment consists retail, office, hospitality, and multi-family properties along with other real estate investments.

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