Private Bank & Trust Co. increased its position in shares of Howard Hughes Corp (NYSE:HHC) by 46.2% during the first quarter, Holdings Channel reports. The firm owned 4,192 shares of the company’s stock after buying an additional 1,325 shares during the period. Private Bank & Trust Co.’s holdings in Howard Hughes Corp were worth $492,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in shares of Howard Hughes Corp by 26.8% in the third quarter. BNP Paribas Arbitrage SA now owns 4,041 shares of the company’s stock worth $463,000 after buying an additional 854 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Howard Hughes Corp by 18.0% in the third quarter. Bank of Montreal Can now owns 25,114 shares of the company’s stock worth $2,876,000 after buying an additional 3,828 shares during the last quarter. First Manhattan Co. raised its stake in shares of Howard Hughes Corp by 4.8% in the third quarter. First Manhattan Co. now owns 46,389 shares of the company’s stock worth $5,311,000 after buying an additional 2,115 shares during the last quarter. PM CAPITAL Ltd raised its stake in shares of Howard Hughes Corp by 3.2% in the third quarter. PM CAPITAL Ltd now owns 315,550 shares of the company’s stock worth $36,130,000 after buying an additional 9,766 shares during the last quarter. Finally, Loeb Partners Corp raised its stake in shares of Howard Hughes Corp by 44.4% in the third quarter. Loeb Partners Corp now owns 6,500 shares of the company’s stock worth $744,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.
Shares of Howard Hughes Corp (NYSE:HHC) traded up 0.42% during midday trading on Thursday, reaching $119.33. The company’s stock had a trading volume of 143,417 shares. The stock has a 50-day moving average of $116.78 and a 200 day moving average of $112.45. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 25.23 and a beta of 1.44. Howard Hughes Corp has a 12 month low of $101.03 and a 12 month high of $123.99.
Howard Hughes Corp (NYSE:HHC) last released its earnings results on Thursday, February 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $1.03. The company earned $278.55 million during the quarter, compared to the consensus estimate of $262.49 million. Howard Hughes Corp had a return on equity of 12.19% and a net margin of 18.80%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, analysts predict that Howard Hughes Corp will post $3.47 earnings per share for the current fiscal year.
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Separately, Sandler O’Neill started coverage on Howard Hughes Corp in a research report on Thursday, March 30th. They set a “hold” rating and a $123.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Howard Hughes Corp currently has an average rating of “Buy” and an average price target of $161.00.
In other news, EVP Christopher John Curry sold 48,317 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $116.34, for a total transaction of $5,621,199.78. Following the completion of the sale, the executive vice president now owns 61,252 shares in the company, valued at $7,126,057.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Reuben Seth Davidsohn sold 5,981 shares of the business’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $118.78, for a total value of $710,423.18. Following the sale, the insider now owns 25,684 shares of the company’s stock, valued at approximately $3,050,745.52. The disclosure for this sale can be found here. Insiders own 13.80% of the company’s stock.
About Howard Hughes Corp
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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