Locust Wood Capital Advisers LLC Buys 26,360 Shares of Howard Hughes Corp (HHC)

Locust Wood Capital Advisers LLC raised its stake in shares of Howard Hughes Corp (NYSE:HHC) by 9.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 302,701 shares of the financial services provider’s stock after buying an additional 26,360 shares during the period. Howard Hughes comprises about 2.6% of Locust Wood Capital Advisers LLC’s portfolio, making the stock its 14th largest holding. Locust Wood Capital Advisers LLC’s holdings in Howard Hughes were worth $37,602,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HHC. PNC Financial Services Group Inc. increased its stake in shares of Howard Hughes by 2.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 20,099 shares of the financial services provider’s stock valued at $2,663,000 after purchasing an additional 402 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Howard Hughes by 8.4% in the 1st quarter. Brown Advisory Inc. now owns 7,006 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 544 shares in the last quarter. Sei Investments Co. increased its stake in shares of Howard Hughes by 12.3% in the 2nd quarter. Sei Investments Co. now owns 5,642 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 618 shares in the last quarter. US Bancorp DE increased its stake in shares of Howard Hughes by 16.8% in the 3rd quarter. US Bancorp DE now owns 4,314 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 620 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Howard Hughes by 44.0% in the 3rd quarter. IFP Advisors Inc now owns 2,561 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 782 shares in the last quarter. Institutional investors and hedge funds own 85.32% of the company’s stock.

Shares of Howard Hughes stock opened at $114.10 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.28 and a debt-to-equity ratio of 1.03. Howard Hughes Corp has a twelve month low of $104.83 and a twelve month high of $142.36. The stock has a market capitalization of $4.95 billion, a P/E ratio of 73.61 and a beta of 1.20.

Howard Hughes (NYSE:HHC) last announced its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). Howard Hughes had a net margin of 18.75% and a return on equity of 2.38%. The business had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $191.77 million. During the same quarter in the prior year, the firm earned $0.24 EPS. Howard Hughes’s revenue for the quarter was down .8% on a year-over-year basis. Analysts forecast that Howard Hughes Corp will post 1.65 earnings per share for the current fiscal year.

In related news, Director Pershing Square Capital Manage sold 51,660 shares of Howard Hughes stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $126.13, for a total value of $6,515,875.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 91,098 shares of company stock worth $11,479,411. 10.10% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on HHC shares. Jefferies Financial Group restated a “$141.27” rating and issued a $171.00 price target on shares of Howard Hughes in a research note on Wednesday, July 18th. Citigroup cut their price target on Howard Hughes from $160.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, August 13th. Finally, TheStreet lowered Howard Hughes from a “b-” rating to a “c+” rating in a research note on Tuesday, September 18th. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $159.33.

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About Howard Hughes

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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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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