Howard Hughes (NYSE:HHH) Posts Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Howard Hughes (NYSE:HHH) posted its quarterly earnings data on Thursday, February 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.21), Zacks reports. The firm had revenue of $624.45 million for the quarter. Howard Hughes had a return on equity of 5.54% and a net margin of 8.40%.The company’s quarterly revenue was down 36.5% on a year-over-year basis. During the same period last year, the firm posted $3.25 earnings per share.

Howard Hughes Trading Down 0.5%

Shares of Howard Hughes stock traded down $0.30 during midday trading on Tuesday, reaching $63.76. The company had a trading volume of 267,450 shares, compared to its average volume of 459,889. Howard Hughes has a fifty-two week low of $61.01 and a fifty-two week high of $91.07. The stock has a fifty day moving average price of $72.02 and a 200 day moving average price of $78.80. The firm has a market cap of $3.80 billion, a PE ratio of 30.22 and a beta of 1.28. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.19 and a quick ratio of 1.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Howard Hughes in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.33.

Insider Activity at Howard Hughes

In other Howard Hughes news, General Counsel Joseph Valane purchased 1,260 shares of Howard Hughes stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $64.45 per share, with a total value of $81,207.00. Following the transaction, the general counsel owned 29,209 shares in the company, valued at $1,882,520.05. This trade represents a 4.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Howard Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its position in Howard Hughes by 134.2% during the 2nd quarter. Allworth Financial LP now owns 363 shares of the company’s stock valued at $25,000 after buying an additional 208 shares during the period. TD Waterhouse Canada Inc. lifted its position in Howard Hughes by 291.0% during the second quarter. TD Waterhouse Canada Inc. now owns 391 shares of the company’s stock valued at $27,000 after purchasing an additional 291 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Howard Hughes during the 3rd quarter valued at $31,000. Signaturefd LLC raised its position in shares of Howard Hughes by 41.5% during the fourth quarter. Signaturefd LLC now owns 423 shares of the company’s stock valued at $34,000 after buying an additional 124 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Howard Hughes by 191.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock worth $35,000 after acquiring an additional 339 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Howard Hughes Company Profile

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.