US Bancorp DE raised its position in shares of Howard Hughes Corp (NYSE:HHC) by 130.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,180 shares of the financial services provider’s stock after acquiring an additional 2,363 shares during the period. US Bancorp DE’s holdings in Howard Hughes were worth $460,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc boosted its stake in shares of Howard Hughes by 6.9% in the third quarter. Vanguard Group Inc now owns 5,623,471 shares of the financial services provider’s stock valued at $698,548,000 after buying an additional 362,699 shares during the period. Norges Bank acquired a new position in Howard Hughes during the fourth quarter valued at approximately $35,360,000. Principal Financial Group Inc. raised its position in Howard Hughes by 12.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,851,660 shares of the financial services provider’s stock valued at $180,759,000 after purchasing an additional 199,136 shares in the last quarter. FMR LLC raised its position in Howard Hughes by 18.9% during the fourth quarter. FMR LLC now owns 728,388 shares of the financial services provider’s stock valued at $71,105,000 after purchasing an additional 115,967 shares in the last quarter. Finally, Consulta Ltd raised its position in Howard Hughes by 20.0% during the fourth quarter. Consulta Ltd now owns 600,000 shares of the financial services provider’s stock valued at $58,572,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors own 88.48% of the company’s stock.
HHC has been the subject of several research analyst reports. TheStreet upgraded shares of Howard Hughes from a “c” rating to a “b-” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Howard Hughes from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Friday, March 22nd.
Howard Hughes (NYSE:HHC) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.32. The business had revenue of $353.89 million during the quarter, compared to the consensus estimate of $292.82 million. Howard Hughes had a return on equity of 2.71% and a net margin of 6.95%. Howard Hughes’s quarterly revenue was up 118.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. On average, sell-side analysts anticipate that Howard Hughes Corp will post 2.65 earnings per share for the current fiscal year.
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Howard Hughes Company 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, Hawaii.
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