Howard Hughes (HHC) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Howard Hughes (NYSE:HHC) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning.

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. “

Shares of Howard Hughes (NYSE HHC) traded up $0.56 during midday trading on Wednesday, hitting $126.45. The stock had a trading volume of 268,400 shares, compared to its average volume of 416,976. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.99. Howard Hughes has a 1-year low of $104.63 and a 1-year high of $133.08. The firm has a market cap of $5,470.00, a price-to-earnings ratio of 86.02 and a beta of 1.41.

In other news, Director Pershing Square Capital Manage sold 2,500,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $127.86, for a total transaction of $319,650,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 20.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Abner Herrman & Brock LLC acquired a new stake in shares of Howard Hughes during the 4th quarter worth about $216,000. Norman Fields Gottscho Capital Management LLC increased its position in Howard Hughes by 16.8% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 22,310 shares of the financial services provider’s stock worth $2,929,000 after buying an additional 3,205 shares during the period. Parametric Portfolio Associates LLC increased its position in Howard Hughes by 6.9% during the third quarter. Parametric Portfolio Associates LLC now owns 126,566 shares of the financial services provider’s stock worth $14,926,000 after buying an additional 8,119 shares during the period. Neuberger Berman Group LLC increased its position in Howard Hughes by 277.8% during the third quarter. Neuberger Berman Group LLC now owns 6,800 shares of the financial services provider’s stock worth $802,000 after buying an additional 5,000 shares during the period. Finally, California Public Employees Retirement System increased its position in Howard Hughes by 2.6% during the third quarter. California Public Employees Retirement System now owns 78,512 shares of the financial services provider’s stock worth $9,259,000 after buying an additional 2,012 shares during the period. 85.26% of the stock is currently owned by institutional investors and hedge funds.

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About Howard Hughes

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.

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