New South Capital Management Inc Lowers stake in Howard Hughes Corp (HHC)

Howard Hughes Corp (HHC) : New South Capital Management Inc reduced its stake in Howard Hughes Corp by 2.25% during the most recent quarter end. The investment management company now holds a total of 1,028,750 shares of Howard Hughes Corp which is valued at $119,448,163 after selling 23,636 shares in Howard Hughes Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Howard Hughes Corp makes up approximately 2.85% of New South Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in HHC in the latest quarter, The investment management firm added 7,055 additional shares and now holds a total of 33,977 shares of Howard Hughes Corp which is valued at $3,945,069.Checchi Capital Advisers boosted its stake in HHC in the latest quarter, The investment management firm added 184 additional shares and now holds a total of 339 shares of Howard Hughes Corp which is valued at $39,714. Howard Hughes Corp makes up approx 0.01% of Checchi Capital Advisers’s portfolio.First Manhattan Co boosted its stake in HHC in the latest quarter, The investment management firm added 43,682 additional shares and now holds a total of 44,274 shares of Howard Hughes Corp which is valued at $5,150,837. Howard Hughes Corp makes up approx 0.03% of First Manhattan Co’s portfolio.

Howard Hughes Corp closed down -1.24 points or -1.06% at $115.54 with 1,12,797 shares getting traded on Friday. Post opening the session at $115.98, the shares hit an intraday low of $114.69 and an intraday high of $116.745 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 .Citigroup Initiated Howard Hughes Corp on May 13, 2016 to “Buy”, Price Target of the shares are set at $165.

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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