JPMorgan Chase & Co. Cuts Howard Hughes (NYSE:HHH) Price Target to $84.00

Howard Hughes (NYSE:HHH) had its price target trimmed by JPMorgan Chase & Co. from $90.00 to $84.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, TheStreet upgraded shares of Howard Hughes from a d+ rating to a c- rating in a research note on Friday, December 22nd.

Howard Hughes Stock Up 2.2 %

Shares of HHH stock opened at $60.67 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.60 and a current ratio of 1.60. The firm’s 50-day moving average is $72.30 and its 200-day moving average is $74.83. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -5.45 and a beta of 1.48. Howard Hughes has a 52-week low of $59.00 and a 52-week high of $86.72.

Howard Hughes (NYSE:HHH) last issued its earnings results on Tuesday, February 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.25. The company had revenue of $335.84 million for the quarter, compared to analysts’ expectations of $318.32 million. Howard Hughes had a negative net margin of 53.88% and a negative return on equity of 0.62%. Sell-side analysts predict that Howard Hughes will post 3.63 EPS for the current year.

Insider Activity at Howard Hughes

In related news, insider Heath Melton sold 1,926 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $72.95, for a total value of $140,501.70. Following the transaction, the insider now owns 9,274 shares in the company, valued at approximately $676,538.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 33.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Beech Hill Advisors Inc. grew its position in shares of Howard Hughes by 5.6% during the 1st quarter. Beech Hill Advisors Inc. now owns 6,650 shares of the company’s stock worth $483,000 after purchasing an additional 350 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Howard Hughes during the 4th quarter worth approximately $6,331,000. Price T Rowe Associates Inc. MD grew its position in shares of Howard Hughes by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,812 shares of the company’s stock worth $2,038,000 after purchasing an additional 409 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Howard Hughes by 6.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 72,016 shares of the company’s stock worth $6,161,000 after purchasing an additional 4,343 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Howard Hughes by 6.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,100 shares of the company’s stock worth $607,000 after purchasing an additional 458 shares in the last quarter. Institutional investors and hedge funds own 93.83% 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.