Howard Hughes (NYSE:HHH) Downgraded to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Howard Hughes (NYSE:HHH) from an overweight rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. The brokerage currently has $76.00 price target on the stock, down from their prior price target of $82.00.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets dropped their price target on shares of Howard Hughes from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Piper Sandler dropped their target price on shares of Howard Hughes from $105.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd.

Howard Hughes Price Performance

Shares of NYSE:HHH opened at $66.78 on Monday. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 12.82 and a beta of 1.23. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.41 and a quick ratio of 1.41. Howard Hughes has a 12 month low of $59.83 and a 12 month high of $87.77. The stock’s 50 day moving average price is $68.48 and its 200 day moving average price is $72.80.

Howard Hughes (NYSE:HHH) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $199.33 million for the quarter, compared to analysts’ expectations of $187.43 million. Howard Hughes had a return on equity of 10.21% and a net margin of 14.27%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities research analysts anticipate that Howard Hughes will post 3.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Howard Hughes

A number of hedge funds have recently modified their holdings of HHH. Egerton Capital UK LLP lifted its holdings in shares of Howard Hughes by 169.5% during the first quarter. Egerton Capital UK LLP now owns 1,196,288 shares of the company’s stock valued at $88,621,000 after purchasing an additional 752,325 shares during the last quarter. Norges Bank acquired a new stake in Howard Hughes during the 4th quarter worth about $29,287,000. T. Rowe Price Investment Management Inc. lifted its stake in Howard Hughes by 48.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 828,317 shares of the company’s stock valued at $63,715,000 after buying an additional 269,402 shares in the last quarter. River Road Asset Management LLC lifted its stake in Howard Hughes by 235.9% during the fourth quarter. River Road Asset Management LLC now owns 312,566 shares of the company’s stock valued at $24,043,000 after buying an additional 219,514 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Howard Hughes by 50.3% in the fourth quarter. American Century Companies Inc. now owns 624,769 shares of the company’s stock worth $48,057,000 after buying an additional 209,217 shares during the period. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.