Vision Capital Corp Takes $17.26 Million Position in Howard Hughes Corp (HHC)

Vision Capital Corp bought a new stake in shares of Howard Hughes Corp (NYSE:HHC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 176,789 shares of the financial services provider’s stock, valued at approximately $17,258,000. Howard Hughes makes up approximately 13.0% of Vision Capital Corp’s portfolio, making the stock its 3rd largest position.

A number of other hedge funds have also added to or reduced their stakes in the business. Strs Ohio lifted its position in Howard Hughes by 4.3% during the fourth quarter. Strs Ohio now owns 4,248 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 176 shares during the last quarter. Keybank National Association OH lifted its position in Howard Hughes by 9.3% during the fourth quarter. Keybank National Association OH now owns 2,131 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 181 shares during the last quarter. New Jersey Better Educational Savings Trust lifted its holdings in shares of Howard Hughes by 10.0% in the 4th quarter. New Jersey Better Educational Savings Trust now owns 2,200 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 200 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Howard Hughes by 49.5% in the 4th quarter. Avestar Capital LLC now owns 996 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 330 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Howard Hughes by 5.0% in the 4th quarter. Creative Planning now owns 7,121 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

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In related news, Director Allen J. Model acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was bought at an average price of $108.98 per share, for a total transaction of $108,980.00. Following the acquisition, the director now directly owns 17,062 shares of the company’s stock, valued at approximately $1,859,416.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin Orrock sold 771 shares of Howard Hughes stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $95.90, for a total transaction of $73,938.90. Following the sale, the insider now owns 7,693 shares of the company’s stock, valued at approximately $737,758.70. The disclosure for this sale can be found here. Insiders bought a total of 63,931 shares of company stock valued at $6,906,347 in the last 90 days. Company insiders own 10.10% of the company’s stock.

Separately, Citigroup raised their target price on shares of Howard Hughes from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, November 13th. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $160.00.

Shares of Howard Hughes stock traded down $0.01 during trading on Thursday, hitting $110.73. The stock had a trading volume of 2,018 shares, compared to its average volume of 151,540. The firm has a market capitalization of $4.73 billion, a PE ratio of 70.94 and a beta of 1.32. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.03. Howard Hughes Corp has a 12 month low of $89.51 and a 12 month high of $142.36.

Howard Hughes (NYSE:HHC) last released its earnings results on Monday, November 5th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). The firm had revenue of $257.00 million during the quarter, compared to the consensus estimate of $191.77 million. Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. Howard Hughes’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. As a group, sell-side analysts predict that Howard Hughes Corp will post 0.92 earnings per share for the current fiscal year.

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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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