Mad River Investors Lowers stake in Howard Hughes Corp (HHC)

Howard Hughes Corp (HHC) : Mad River Investors reduced its stake in Howard Hughes Corp by 2.13% during the most recent quarter end. The investment management company now holds a total of 95,058 shares of Howard Hughes Corp which is valued at $9,981,090 after selling 2,068 shares in Howard Hughes Corp , the firm said in a disclosure report filed with the SEC on May 10, 2016.Howard Hughes Corp makes up approximately 12.01% of Mad River Investors’s portfolio.

Other Hedge Funds, Including , Buckingham Asset Management added HHC to its portfolio by purchasing 2,607 company shares during the most recent quarter which is valued at $273,683. Howard Hughes Corp makes up approx 0.09% of Buckingham Asset Management’s portfolio.Tiaa Cref Investment Management boosted its stake in HHC in the latest quarter, The investment management firm added 1,052 additional shares and now holds a total of 154,668 shares of Howard Hughes Corp which is valued at $16,237,047. Howard Hughes Corp makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio.Calvert Investment Management boosted its stake in HHC in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 2,844 shares of Howard Hughes Corp which is valued at $298,563. Howard Hughes Corp makes up approx 0.01% of Calvert Investment Management’s portfolio.Vnbtrust National Association boosted its stake in HHC in the latest quarter, The investment management firm added 17,615 additional shares and now holds a total of 47,630 shares of Howard Hughes Corp which is valued at $5,009,247. Howard Hughes Corp makes up approx 2.91% of Vnbtrust National Association’s portfolio.

Howard Hughes Corp opened for trading at $104.7 and hit $107.19 on the upside on Monday, eventually ending the session at $106.02, with a gain of 0.97% or 1.02 points. The heightened volatility saw the trading volume jump to 1,35,745 shares. Company has a market cap of $4,222 M.

On the company’s financial health, Howard Hughes Corp reported $3.04 EPS for the quarter, beating the analyst consensus estimate by $ 2.71 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.33. The company had revenue of $239.66 million for the quarter, compared to analysts expectations of $186.95 million. The company’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Howard Hughes Corp. Citigroup Initiated Howard Hughes Corp on May 13, 2016 to “Buy”, Price Target of the shares are set at $165.Company shares were Reiterated by Compass Point on Apr 21, 2016 to “Buy”, Firm has raised the Price Target to $ 200 from a previous price target of $190 .

The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in development of master planned communities and the ownership management and the redevelopment or repositioning of real estate assets which are generating revenues also called Operating Assets as well as other strategic real estate opportunities in the form of entitled and unentitled land and other development rights also called Strategic Developments. The Company operates its business in three segments: Master Planned Communities (MPC) Operating Assets and Strategic Developments. MPC segment consists of the development and sale of residential land and the development of commercial land to hold develop or sell. Operating Assets segment contains 44 properties investments and other assets that generate revenue consisting primarily of retail office and multi-family properties. Strategic Developments segment consists of 30 development projects.

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