Epoch Investment Partners Inc. decreased its position in shares of Howard Hughes Corp (NYSE:HHC) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,681 shares of the financial services provider’s stock after selling 5,139 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.47% of Howard Hughes worth $25,302,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. boosted its holdings in shares of Howard Hughes by 22.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 5,210 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 968 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Howard Hughes by 11.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 575,909 shares of the financial services provider’s stock valued at $71,539,000 after acquiring an additional 57,535 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Howard Hughes by 1.0% during the 3rd quarter. Baillie Gifford & Co. now owns 1,686,271 shares of the financial services provider’s stock valued at $209,468,000 after acquiring an additional 16,784 shares in the last quarter. Fiduciary Management Inc. WI lifted its holdings in Howard Hughes by 9.4% during the 3rd quarter. Fiduciary Management Inc. WI now owns 520,215 shares of the financial services provider’s stock worth $64,621,000 after buying an additional 44,865 shares during the period. Finally, Advisory Research Inc. lifted its holdings in Howard Hughes by 9.5% during the 3rd quarter. Advisory Research Inc. now owns 297,784 shares of the financial services provider’s stock worth $36,991,000 after buying an additional 25,748 shares during the period. 84.68% of the stock is currently owned by institutional investors.
In related news, Director Allen J. Model bought 1,000 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were purchased at an average cost of $108.98 per share, with a total value of $108,980.00. Following the acquisition, the director now owns 17,062 shares of the company’s stock, valued at $1,859,416.76. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Weinreb bought 50,000 shares of the business’s stock in a transaction on Friday, November 9th. The shares were bought at an average cost of $109.39 per share, for a total transaction of $5,469,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,325,177 shares in the company, valued at approximately $144,961,112.03. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 56,570 shares of company stock worth $6,188,272 and have sold 990,745 shares worth $109,891,796. 10.10% of the stock is currently owned by insiders.
Shares of HHC opened at $107.39 on Friday. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 63.16 and a beta of 1.21. Howard Hughes Corp has a 12 month low of $104.04 and a 12 month high of $142.36. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.28 and a current ratio of 1.28.
Howard Hughes (NYSE:HHC) last announced its earnings results on Monday, November 5th. The financial services provider reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $191.77 million. Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. On average, equities research analysts forecast that Howard Hughes Corp will post 0.92 EPS for the current year.
HHC has been the topic of several recent research reports. Citigroup lifted their target price on Howard Hughes from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, November 13th. TheStreet downgraded Howard Hughes from a “b-” rating to a “c+” rating in a report on Tuesday, September 18th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Howard Hughes presently has a consensus rating of “Buy” and a consensus target price of $160.00.
Howard Hughes Company Profile
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.
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