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 $430,171,295 after selling 483,769 shares in Howard Hughes Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Howard Hughes Corp makes up approximately 10.21% of Horizon Kinetics’s portfolio.

Other Hedge Funds, Including , Babson Capital Management sold out all of its stake in HHC during the most recent quarter. The investment firm sold 6,790 shares of HHC which is valued $788,387.Assetmark Inc boosted its stake in HHC in the latest quarter, The investment management firm added 197 additional shares and now holds a total of 289 shares of Howard Hughes Corp which is valued at $33,767. Dupont Capital Management Corp added HHC to its portfolio by purchasing 19,000 company shares during the most recent quarter which is valued at $2,266,130. Howard Hughes Corp makes up approx 0.05% of Dupont Capital Management Corp’s portfolio.Swift Run Capital Management boosted its stake in HHC in the latest quarter, The investment management firm added 740 additional shares and now holds a total of 71,488 shares of Howard Hughes Corp which is valued at $8,539,956. Howard Hughes Corp makes up approx 5.53% of Swift Run Capital Management’s portfolio.

Howard Hughes Corp opened for trading at $117.76 and hit $119.33 on the upside on Thursday, eventually ending the session at $118.39, with a gain of 0.14% or 0.17 points. The heightened volatility saw the trading volume jump to 1,04,958 shares. Company has a market cap of $4,716 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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