Harvard Management Co Inc Lowers stake in Howard Hughes Corp (HHC)

Howard Hughes Corp (HHC) : Harvard Management Co Inc reduced its stake in Howard Hughes Corp by 28.61% during the most recent quarter end. The investment management company now holds a total of 331,000 shares of Howard Hughes Corp which is valued at $38,432,410 after selling 132,674 shares in Howard Hughes Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Howard Hughes Corp makes up approximately 8.01% of Harvard Management Co Inc’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in HHC by selling 2,589 shares or 3.17% in the most recent quarter. The Hedge Fund company now holds 79,078 shares of HHC which is valued at $9,181,747. Howard Hughes Corp makes up approx 0.01% of Parametric Portfolio Associates’s portfolio.State Of Wisconsin Investment Board reduced its stake in HHC by selling 4,100 shares or 14.79% in the most recent quarter. The Hedge Fund company now holds 23,626 shares of HHC which is valued at $2,743,215. Howard Hughes Corp makes up approx 0.01% of State Of Wisconsin Investment Board’s portfolio.Seizert Capital Partners reduced its stake in HHC by selling 124 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 137,833 shares of HHC which is valued at $16,003,790. Howard Hughes Corp makes up approx 0.57% of Seizert Capital Partners’s portfolio.Vanguard Group Inc boosted its stake in HHC in the latest quarter, The investment management firm added 55,331 additional shares and now holds a total of 2,542,551 shares of Howard Hughes Corp which is valued at $295,215,597. Howard Hughes Corp makes up approx 0.02% of Vanguard Group Inc’s portfolio.

Howard Hughes Corp opened for trading at $117.93 and hit $118.87 on the upside on Monday, eventually ending the session at $118.51, with a gain of 0.64% or 0.75 points. The heightened volatility saw the trading volume jump to 78,840 shares. Company has a market cap of $4,721 M.

On the company’s financial health, Howard Hughes Corp reported $1.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.54 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $1.04. The company had revenue of $272.20 million for the quarter, compared to analysts expectations of $239.99 million. The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Howard Hughes Corp. Shares were Reiterated by Compass Point on May 23, 2016 to “Buy” and Lowered the Price Target to $ 195 from a previous price target of $200 .

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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