Howard Hughes Corp (HHC) Downgraded to Sell at Zacks Investment Research

Howard Hughes Corp (NYSE:HHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, November 14th.

According to Zacks, “Howard Hughes Corporation operates as a real estate company engaged in the development of master planned communities and other strategic real estate development opportunities across the United States. The Company operates its business in two lines of business: Master Planned Communities and Strategic Development. Its Master Planned Communities segment consists of the development and sale of residential and commercial land, primarily in large-scale projects in and around Columbia, Maryland; Houston, Texas; and Las Vegas, Nevada. Its Strategic Development segment is made up of near, medium and long-term real estate properties and development projects. Howard Hughes Corporation is headquartered in Wacker Drive, Chicago. “

Separately, BidaskClub lowered Howard Hughes Corp from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th.

Shares of Howard Hughes Corp (HHC) traded up $0.32 during midday trading on Tuesday, hitting $126.84. The company had a trading volume of 306,700 shares, compared to its average volume of 188,538. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.99. Howard Hughes Corp has a twelve month low of $104.63 and a twelve month high of $131.39. The firm has a market capitalization of $5,472.47, a price-to-earnings ratio of 59.40 and a beta of 1.43.

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A number of institutional investors have recently bought and sold shares of HHC. BNP Paribas Arbitrage SA boosted its holdings in Howard Hughes Corp by 65.7% during the third quarter. BNP Paribas Arbitrage SA now owns 1,011 shares of the financial services provider’s stock worth $119,000 after buying an additional 401 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in Howard Hughes Corp during the second quarter worth about $122,000. Fiduciary Trust Co. bought a new position in shares of Howard Hughes Corp during the 2nd quarter valued at about $123,000. FNY Managed Accounts LLC bought a new position in shares of Howard Hughes Corp during the 2nd quarter valued at about $147,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Howard Hughes Corp by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,212 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 86.33% of the company’s stock.

About Howard Hughes Corp

The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in the ownership, management and the redevelopment or repositioning of real estate assets, as well as other real estate opportunities in the form of entitled and unentitled land and other development rights, also called Strategic Developments.

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