Horizon Kinetics Lowers stake in Howard Hughes Corp (HHC)

Howard Hughes Corp (HHC) : Horizon Kinetics reduced its stake in Howard Hughes Corp by 11.55% during the most recent quarter end. The investment management company now holds a total of 3,704,860 shares of Howard Hughes Corp which is valued at $380,785,511 after selling 483,769 shares in Howard Hughes Corp , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Howard Hughes Corp makes up approximately 9.97% of Horizon Kinetics’s portfolio.

Howard Hughes Corp closed down -0.05 points or -0.05% at $102.85 with 1,42,665 shares getting traded on Wednesday. Post opening the session at $103.33, the shares hit an intraday low of $102.505 and an intraday high of $103.774 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Simplex Trading boosted its stake in HHC in the latest quarter, The investment management firm added 1,008 additional shares and now holds a total of 2,986 shares of Howard Hughes Corp which is valued at $306,901. Howard Hughes Corp makes up approx 0.05% of Simplex Trading’s portfolio.Menlo Advisors reduced its stake in HHC by selling 192 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 47,511 shares of HHC which is valued at $4,883,181. Howard Hughes Corp makes up approx 4.41% of Menlo Advisors’s portfolio.Consulta Ltd boosted its stake in HHC in the latest quarter, The investment management firm added 100,000 additional shares and now holds a total of 1,000,000 shares of Howard Hughes Corp which is valued at $102,780,000. Howard Hughes Corp makes up approx 12.45% of Consulta Ltd’s portfolio.Norman Fields Gottscho Capital Management reduced its stake in HHC by selling 2,800 shares or 25.12% in the most recent quarter. The Hedge Fund company now holds 8,345 shares of HHC which is valued at $857,699. Howard Hughes Corp makes up approx 0.57% of Norman Fields Gottscho Capital Management’s portfolio.Creative Planning boosted its stake in HHC in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 12,397 shares of Howard Hughes Corp which is valued at $1,258,915. Howard Hughes Corp makes up approx 0.01% of Creative Planning’s portfolio.

On the company’s financial health, Howard Hughes Corp reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 1.08 according to the earnings call on Feb 29, 2016. Analyst had a consensus of $-0.08. The company had revenue of $229.40 million for the quarter, compared to analysts expectations of $124.39 million. The company’s revenue was up 10.8% compared to the same quarter last year.

Many Wall Street Analysts have commented on Howard Hughes Corp. 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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