Public Employees Retirement System of Ohio Invests $650,000 in Howard Hughes Holdings Inc. $HHH

Public Employees Retirement System of Ohio purchased a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,090 shares of the company’s stock, valued at approximately $650,000.

Several other hedge funds have also made changes to their positions in HHH. Allworth Financial LP acquired a new position in Howard Hughes in the 2nd quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Howard Hughes by 191.5% in the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock valued at $35,000 after purchasing an additional 339 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Howard Hughes by 134.1% in the fourth quarter. Huntington National Bank now owns 494 shares of the company’s stock valued at $39,000 after purchasing an additional 283 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Howard Hughes in the fourth quarter worth $43,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Howard Hughes in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Howard Hughes Price Performance

Shares of NYSE:HHH opened at $62.83 on Thursday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 12.72 and a beta of 1.14. Howard Hughes Holdings Inc. has a 1 year low of $61.01 and a 1 year high of $91.07. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $67.48 and a 200 day simple moving average of $66.36.

Howard Hughes (NYSE:HHH) last issued its earnings results on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $2.19. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%.The firm had revenue of $1.12 billion for the quarter. During the same quarter last year, the firm earned ($0.22) EPS. The business’s revenue for the quarter was up 330.2% compared to the same quarter last year. As a group, sell-side analysts predict that Howard Hughes Holdings Inc. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HHH shares. JPMorgan Chase & Co. upped their price target on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Zacks Research lowered Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $79.00.

Insider Activity at Howard Hughes

In related news, Director Mary Tighe sold 13,495 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total value of $907,538.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 47.70% of the company’s stock.

About Howard Hughes

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.