Switch to:
Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 0.20
HHC's Cash-to-Debt is ranked lower than
59% of the 1604 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.35 vs. HHC: 0.20 )
Ranked among companies with meaningful Cash-to-Debt only.
HHC' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.01  Med: 0.35 Max: N/A
Current: 0.2
Equity-to-Asset 0.41
HHC's Equity-to-Asset is ranked lower than
59% of the 1548 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.46 vs. HHC: 0.41 )
Ranked among companies with meaningful Equity-to-Asset only.
HHC' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.39  Med: 0.5 Max: 0.72
Current: 0.41
0.39
0.72
Interest Coverage 3.13
HHC's Interest Coverage is ranked lower than
78% of the 1440 Companies
in the Global Real Estate - General industry.

( Industry Median: 10.92 vs. HHC: 3.13 )
Ranked among companies with meaningful Interest Coverage only.
HHC' s Interest Coverage Range Over the Past 10 Years
Min: 1.99  Med: 8.19 Max: N/A
Current: 3.13
Piotroski F-Score: 4
Altman Z-Score: 1.07
Beneish M-Score: -2.78
WACC vs ROIC
8.98%
1.91%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating Margin % 20.58
HHC's Operating Margin % is ranked higher than
50% of the 1570 Companies
in the Global Real Estate - General industry.

( Industry Median: 18.25 vs. HHC: 20.58 )
Ranked among companies with meaningful Operating Margin % only.
HHC' s Operating Margin % Range Over the Past 10 Years
Min: -508.02  Med: 17.07 Max: 31.57
Current: 20.58
-508.02
31.57
Net Margin % 6.25
HHC's Net Margin % is ranked higher than
63% of the 1583 Companies
in the Global Real Estate - General industry.

( Industry Median: 11.87 vs. HHC: 6.25 )
Ranked among companies with meaningful Net Margin % only.
HHC' s Net Margin % Range Over the Past 10 Years
Min: -516.04  Med: -9.72 Max: 53.39
Current: 6.25
-516.04
53.39
ROE % 2.53
HHC's ROE % is ranked higher than
56% of the 1586 Companies
in the Global Real Estate - General industry.

( Industry Median: 6.40 vs. HHC: 2.53 )
Ranked among companies with meaningful ROE % only.
HHC' s ROE % Range Over the Past 10 Years
Min: -46.83  Med: -2.15 Max: 8.21
Current: 2.53
-46.83
8.21
ROA % 1.02
HHC's ROA % is ranked higher than
57% of the 1630 Companies
in the Global Real Estate - General industry.

( Industry Median: 2.58 vs. HHC: 1.02 )
Ranked among companies with meaningful ROA % only.
HHC' s ROA % Range Over the Past 10 Years
Min: -24.22  Med: -1.16 Max: 4.58
Current: 1.02
-24.22
4.58
ROC (Joel Greenblatt) % 4.14
HHC's ROC (Joel Greenblatt) % is ranked lower than
63% of the 1581 Companies
in the Global Real Estate - General industry.

( Industry Median: 14.82 vs. HHC: 4.14 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
HHC' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -752.82  Med: 0.21 Max: 7.92
Current: 4.14
-752.82
7.92
3-Year Revenue Growth Rate 26.70
HHC's 3-Year Revenue Growth Rate is ranked higher than
82% of the 1313 Companies
in the Global Real Estate - General industry.

( Industry Median: 4.50 vs. HHC: 26.70 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
HHC' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 23.6  Med: 31.5 Max: 46.5
Current: 26.7
23.6
46.5
GuruFocus has detected 2 Warning Signs with The Howard Hughes Corp $HHC.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» HHC's 30-Y Financials

Financials (Next Earnings Date: 2017-08-08 Est.)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q2 2016

HHC Guru Trades in Q2 2016

Joel Greenblatt 2,140 sh (New)
Louis Moore Bacon 38,417 sh (+13.48%)
Bill Ackman 3,568,017 sh (unchged)
Ron Baron Sold Out
Third Avenue Management Sold Out
Murray Stahl 3,545,634 sh (-4.30%)
Jim Simons 40,700 sh (-69.10%)
» More
Q3 2016

HHC Guru Trades in Q3 2016

David Dreman 1,780 sh (New)
Keeley Asset Management Corp 82,686 sh (New)
Louis Moore Bacon 42,459 sh (+10.52%)
Bill Ackman 3,568,017 sh (unchged)
Joel Greenblatt 2,116 sh (-1.12%)
Murray Stahl 3,396,994 sh (-4.19%)
Jim Simons 19,700 sh (-51.60%)
» More
Q4 2016

HHC Guru Trades in Q4 2016

Keeley Asset Management Corp 84,309 sh (+1.96%)
Bill Ackman 3,568,017 sh (unchged)
David Dreman 1,780 sh (unchged)
Jim Simons Sold Out
Joel Greenblatt 1,872 sh (-11.53%)
Murray Stahl 2,914,986 sh (-14.19%)
» More
Q1 2017

HHC Guru Trades in Q1 2017

Joel Greenblatt 2,207 sh (+17.90%)
Bill Ackman 3,568,017 sh (unchged)
David Dreman 1,780 sh (unchged)
Murray Stahl 2,826,334 sh (-3.04%)
Louis Moore Bacon 33,660 sh (-20.72%)
» More
» Details

Insider Trades

Latest Guru Trades with HHC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

No Entry found in the selected group of Gurus. You can
  • 1. Modify your Personalized List of Gurus, or
  • 2. Click on Premium Premium Tools above to check out all the Gurus, or
  • 3. Click on Premium Plus Premium Plus above for the stocks picks of all the institutional investment advisors (>4000)
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Business Description

Industry: Real Estate Services » Real Estate - General    NAICS: 531190    SIC: 6798
Compare:OTCPK:HYSNY, OTCPK:LEGIF, OTCPK:UOLGY, OTCPK:LLESY, NYSE:TPL, NAS:YERR, NYSE:ALEX, NYSE:IRS, NYSE:BBU, OTCPK:KWIPF, NYSE:JOE, OTCPK:RNHEF, NYSE:FPH, OTCPK:HOFD, NYSE:FOR, NAS:GRBK, OTCPK:DRUNF, NYSE:TRC, OTCPK:SCPXY, NAS:PICO » details
Traded in other countries:HHE.Germany,
Headquarter Location:USA
The Howard Hughes Corp is a real estate company and is in the development of master planned communities and other strategic real estate development opportunities across the United States.

Howard Hughes is a general real estate company. The company specializes in developing master planned communities and mixed-use properties. Howard Hughes operates in three segments: master planned communities, operating assets, and strategic developments. The vast majority of the company's revenue is derived from the strategic developments segment. The company's growth strategy focuses on large-scale and long-range development and is open to merger and acquisition investment. All of the company's operations are in the United States.

Guru Investment Theses on The Howard Hughes Corp

Bill Ackman Comments on Howard Hughes Corp - May 12, 2017

Pershing Square presented the Howard Hughes Corporation (NYSE:HHC) at the Sohn Conference on May 8th . Here is a link to the powerpoint presentation. HHC held its second quarterly conference call on May 4th and intends to conduct its first ever Investor Day on May 17th at the South Street Seaport. It also released detailed Supplemental Information for the first time, in an effort to provide the market with increased transparency into its business.

HHC continues to make strong progress across its three business lines – Operating Assets, Strategic Developments and Master Planned Communities (MPCs). In its Operating Asset portfolio, Howard Hughes continued to lease up its existing operating portfolio, increased the stabilized net operating income (NOI) target to $240 million, and grew NOI in Q1 2017 by 42.4% to $44.7 million, as compared to the prior year. MPC segment revenue was $68.7 million, an increase of $19 million as compared to the first quarter of last year.

In its Strategic Development segment, Howard Hughes sold an additional 34 condo units at Ward Village in Hawaii, increasing the percentage of total units closed or under contract at its four condo towers to nearly 83%, with three towers at more than 93% sold and the fourth at 62%. The South Street Seaport is expected to open in New York City in Summer 2018.

During the quarter, Howard Hughes refinanced its existing bonds with a new $800 million bond issuance in a positive net present value transaction, saving 150 basis points in interest and extending the maturity date by 3.5 years.



From Bill Ackman (Trades, Portfolio)'s first quarter 2017 shareholder letter.


Check out Bill Ackman latest stock trades

Bill Ackman Comments on Howard Hughes Corp - May 08, 2017

The Howard Hughes Corporation (NYSE:HHC) was formed in November 2010 as a tax-free spinoff from General Growth Properties, with a collection of disparate real estate holdings designed to receive appropriate management attention and recognition in the public markets. Pershing Square helped orchestrate the spinoff, hired the management team, and has been the largest investor in HHC since its inception. Management has done a superb job growing asset value, yet, the company has not received the recognition it deserves, i.e., an appropriate valuation in the public markets. Despite a more than three-fold increase over the last six years, it remains undervalued in our view.

HHC’s mission is to be the preeminent developer and operator of master planned communities (“MPCs”) and mixed-use properties. HHC’s management team has transformed the company’s disparate assets into a collection of high-quality core trophy assets. The majority of HHC’s value is now represented by the South Street Seaport, Ward Village in Hawaii and master planned communities in Houston, Las Vegas and Maryland. These assets are comprised of steady cash-flow generating properties and longer-term development opportunities that encompass more than 50 million square feet of real estate development potential.

HHC continued to make meaningful progress in 2016 to enhance the value of its key assets. In its operating asset segment, HHC grew net operating income (“NOI”) in 2016 to $135 million or $156 million annualizing Q4 NOI, from $118 million in 2015 (all excluding the Seaport, which is undergoing redevelopment). HHC management increased its projected stabilized 2020 NOI estimate to $232 million from $219 million.

In Hawaii, at its 60-acre coastal Ward Village property in the heart of Honolulu, HHC has four condo towers with nearly 1,400 units in various stages of completion. These towers have an estimated total cost of $1.5 billion on which the company expects to generate net margins of approximately 25% to 30%. These towers are over 80% sold with one tower projected to be delivered each year from now until 2019 (generating meaningful cash proceeds for the company). In total, HHC has entitlements to build more than 9 million square feet of mixed-use development with over 4,000 residences and 1 million square feet of retail upon completion of its plan at Ward Village.

At the Seaport, HHC owns more than 400,000 square feet of highly valuable real estate (along with 700,000 square feet of future development rights). Construction on the 170,000 square foot Pier 17 building is expected to be substantially completed by the end of 2017, with a grand opening in summer 2018. This architecturally significant building on the East River will have a unique group of tenants and a 1.5 acre rooftop year-round entertainment venue with iconic views. HHC advanced the revitalization of the Seaport with the approval for its Pier 17 Minor Modification, which will allow HHC to move and reconstruct the 53,000 square foot Tin Building. In Q1 2016, HHC sold an assemblage of properties it had acquired in 2014 and 2015 at the Seaport for $390 million generating a $140 million profit, which demonstrates the market appeal of the Seaport and management’s ability to create value.

While HHC’s share price performance (and intrinsic valuation creation) since its spinoff have been impressive, the share price has been flat over the last three years. Although management has done a superb job growing intrinsic value, the HHC story is largely unknown in the investment community. The HHC story and value proposition is complicated by the vast development potential that cannot be estimated by simply applying a multiple to existing cash flows. To address this concern, HHC recently started conducting quarterly earning conference calls and taking a more proactive approach to investor and analyst outreach. We believe HHC is undervalued and that further progress on asset stabilization and clarity around some of its bigger projects (e.g., Seaport and Ward Village) will help drive stock appreciation.

Howard Hughes’ total shareholder return was 0.8% in 2016.

From 2016 annual letter to shareholders of Pershing Square by Bill Ackman (Trades, Portfolio).

Check out Bill Ackman latest stock trades

Bill Ackman Comments on The Howard Hughes Corporation - Mar 30, 2017

The Howard Hughes Corporation (NYSE:HHC) was formed in November 2010 as a tax-free spinoff from General Growth Properties, with a collection of disparate real estate holdings designed to receive appropriate management attention and recognition in the public markets. Pershing Square helped orchestrate the spinoff, hired the management team, and has been the largest investor in HHC since its inception. Management has done a superb job growing asset value, yet, the company has not received the recognition it deserves, i.e., an appropriate valuation in the public markets. Despite a more than three-fold increase over the last six years, it remains undervalued in our view.

HHC’s mission is to be the preeminent developer and operator of master planned communities (“MPCs”) and mixed-use properties. HHC’s management team has transformed the company’s disparate assets into a collection of high-quality core trophy assets. The majority of HHC’s value is now represented by the South Street Seaport, Ward Village in Hawaii and master planned communities in Houston, Las Vegas and Maryland. These assets are comprised of steady cash-flow generating properties and longer-term development opportunities that encompass more than 50 million square feet of real estate development potential.

HHC continued to make meaningful progress in 2016 to enhance the value of its key assets. In its operating asset segment, HHC grew net operating income (“NOI”) in 2016 to $135 million or $156 million annualizing Q4 NOI, from $118 million in 2015 (all excluding the Seaport, which is undergoing redevelopment). HHC management increased its projected stabilized 2020 NOI estimate to $232 million from $219 million.

In Hawaii, at its 60-acre coastal Ward Village property in the heart of Honolulu, HHC has four condo towers with nearly 1,400 units in various stages of completion. These towers have an estimated total cost of $1.5 billion on which the company expects to generate net margins of approximately 25% to 30%. These towers are over 80% sold with one tower projected to be delivered each year from now until 2019 (generating meaningful cash proceeds for the company). In total, HHC has entitlements to build more than 9 million square feet of mixed-use development with over 4,000 residences and 1 million square feet of retail upon completion of its plan at Ward Village.

At the Seaport, HHC owns more than 400,000 square feet of highly valuable real estate (along with 700,000 square feet of future development rights). Construction on the 170,000 square foot Pier 17 building is expected to be substantially completed by the end of 2017, with a grand opening in summer 2018. This architecturally significant building on the East River will have a unique group of tenants and a 1.5 acre rooftop year-round entertainment venue with iconic views. HHC advanced the revitalization of the Seaport with the approval for its Pier 17 Minor Modification, which will allow HHC to move and reconstruct the 53,000 square foot Tin Building. In Q1 2016, HHC sold an assemblage of properties it had acquired in 2014 and 2015 at the Seaport for $390 million generating a $140 million profit, which demonstrates the market appeal of the Seaport and management’s ability to create value.

While HHC’s share price performance (and intrinsic valuation creation) since its spinoff have been impressive, the share price has been flat over the last three years. Although management has done a superb job growing intrinsic value, the HHC story is largely unknown in the investment community. The HHC story and value proposition is complicated by the vast development potential that cannot be estimated by simply applying a multiple to existing cash flows. To address this concern, HHC recently started conducting quarterly earning conference calls and taking a more proactive approach to investor and analyst outreach. We believe HHC is undervalued and that further progress on asset stabilization and clarity around some of its bigger projects (e.g., Seaport and Ward Village) will help drive stock appreciation.

Howard Hughes’ total shareholder return was 0.8% in 2016.



From Bill Ackman (Trades, Portfolio)'s Pershing Square 2016 annual report.


Check out Bill Ackman latest stock trades

Bill Ackman Comments on The Howard Hughes Corp - Dec 09, 2016

Net Operating Income (NOI) from HHC (NYSE:HHC)’s operating assets (consolidated and owned) decreased sequentially from $35.2 million to $31.3 million (and year-over-year from $31.9 million), largely due to headwinds in Houston that continue to negatively impact HHC’s owned hotels in Houston ($3.5 million sequential decline in hospitality NOI). HHC held steady its projected stabilized annual NOI estimate (which excludes the South Street Seaport) of $215 million and kept constant its estimated stabilized hospitality NOI levels. Land sales in its Master Planned Community (MPC) segment decreased from $59 million to $32 million year-over-year in Q3 and sequentially from $34 million due primarily to a $27 million reduction in commercial sales from Q3 2015.

In Hawaii, at its Ward Village property, construction of the Waiea, HHC’s first residential tower, is nearing completion. HHC has started collecting the proceeds from the sale of these units. HHC’s second tower (Anaha) recently topped out and is on schedule to be completed by mid-summer 2017. The company now has five condominium projects for sale, four of which are under construction (see status of each one below). HHC executed 35 new sales contracts since the end of Q2, representing 11% of the remaining inventory under construction (reducing the number of unsold units to 280 from a total inventory of 1400 units).



Summerlin

Summerlin’s residential land sale market remains strong with $16.5 million in closings. HHC has contracted 21 custom lots totaling $94 million at The Summit, HHC’s luxury golf course JV development within Summerlin. HHC signed a 20-year ground lease for a two-rink practice facility for the newly awarded NHL franchise in Las Vegas in Downtown Summerlin. The facility is expected to be completed in August 2017.

Houston

While the broader Houston market remains negatively impacted by lower oil prices (especially in the higher-end market), HHC continued to see increased activity at Bridgeland due to demand for mid-priced homes. Bridgeland had 12.2 acres of residential land sales, which represented an increase of 110% year-over-year (and flat sequentially). Sequentially, Woodlands land sale closings increased from $1.4 million to $10.6 million, but at a reduced price per lot of $532,000 per acre compared to $603,000 per acre in the second quarter. The recent increase in oil prices are likely to contribute to greater business confidence and demand for real estate in Houston.

South Street Seaport

On October 19, 2016, HHC obtained approval for the Seaport’s Pier 17 and Tin Building Minor Modification, which will allow HHC to move and reconstruct the Tin Building, among other changes to the Seaport. 10 Corso Como, an iconic Italian fashion retailer, signed a 13,000 square foot lease in the historic district where it will open its only North American location. Finally, iPic had its grand opening at the Seaport, which represents Manhattan’s first new commercial multiplex movie theater opening in over a decade.

HHC named David O’Reilly as its new CFO replacing Andy Richardson. David was previously the CFO of Parkway Properties, a publicly listed REIT.

In summary, HHC continues its highly successful strategy of converting land and other non-income development assets into cash and stabilized cash flows. This has had the effect of increasing HHC’s intrinsic value and should assist investors in valuing the company.

From Bill Ackman (Trades, Portfolio)'s Pershing Square third-quarter shareholder letter.

Check out Bill Ackman latest stock trades

Bill Ackman Comments on Howard Hughes Corp - Aug 29, 2016

HHC's second quarter report highlighted the continued progress it is making across all of its initiatives and business segments.

Net operating income ("NOT") from HHC (NYSE:HHC)'s operating assets increased from $28.5 million to $36 3 million year-over-year as recently developed properties continue to stabilize. HHC held steady its projected annual stabilized NOT estimate (excluding the South Street Seaport) of $215 million after increasing it from $203 million at year-end. Land sales closed in its Master Planned Communities ("MPC") segment decreased from $47 million to $34 million year-over-year in Q2 due to weakness at Woodlands in Houston and timing of superpad sales. The housing market in Summerlin remains strong as demonstrated by $48 million in land sales at The Summit, which is HHC's luxury golf course joint venture development within Summerlin. The Woodlands, which develops and sells lots at the upper end of the Houston residential market continues to experience a slowdown in housing activity. HHC saw increased activity, land sale closings and absorption rates at Bridgeland due to stronger demand for more affordable lots in Houston.

At the Ward Village in Honolulu, construction of the Waiea and Anaha condo towers continues on plan. Over 85% of the total square feet available for sale is now under contract at both the Waiea and Anaha condos. The 174-unit Waiea condo is expected to be completed by year-end, at which point HHC will begin to generate a significant amount of cash flow from condo closings. Anaha, a 317-unit project, is expected to be completed by the second quarter of 2017. In February 2016, HHC began construction of Ae'o, the third of four mixed-use residential towers planned for the first phase of the Ward Village development. Whole Foods has pre-leased a substantial portion of the retail space at the base of this tower, which is scheduled for completion in late 2018. Pre-sales are ongoing at the 466-unit Ae'o tower with 45% of the total residential square feet available for sale under contract. The fourth condo tower, the 424-unit Ke Kilohana, sold 90% of its units in five days (in April 2016). Ke Kilohana is a workforce residential tower with 375 of its units designated for local residents. Total construction costs for all four towers are expected to be $1.45 billion of which HHC has incurred $523 million

While HHC did not announce any new material developments at the South Street Seaport in Q2, we are optimistic about the potential for significant value creation at the Seaport.

From Bill Ackman (Trades, Portfolio)'s mid-year 2016 letter.

Check out Bill Ackman latest stock trades

Bill Ackman Comments on Howard Hughes Corp - Dec 16, 2015

Howard Hughes Corp. (NYSE:HHC)

As a developer/owner of major real estate projects and master planned communities, HHC is inherently a long-term investment proposition. The company continues to make material progress completing its developments, launching new projects, selling condominiums and residential lots, and leasing space to office and retail tenants and apartment renters. This is driving substantial increases in the company’s net operating income, recurring cash flows, and intrinsic value.

The company’s stock price has declined year-to- date largely we believe because of its ownership of two master planned communities in Houston, namely the Woodlands and Bridgeland. The substantial decline in oil prices has and will likely continue to reduce lot sale velocity and leasing activity in Houston. We do not, however, believe that the decline in oil prices will permanently impair Houston or these assets, as they represent the best office (in the case of the Woodlands) and among the best residential markets (both the Woodlands and Bridgeland) in the city, and because Houston’s economy, while meaningfully dependent on oil and gas, has in recent years diversified substantially. We expect that the Woodlands will continue to take market share from other locations in Houston as it is arguably the most desirable place to live and work in Houston.

From Bill Ackman (Trades, Portfolio)'s Pershing Square Holdings third quarter 2015 letter to shareholders.

Check out Bill Ackman latest stock trades

Bill Ackman Comments on Howard Hughes Corp - Sep 11, 2015

Howard Hughes Corp. (NYSE:HHC)



HHC reported mixed results for the quarter with strong NOI growth from operating assets, continued sales of condominiums in Hawaii at record-setting prices, and reduced land sales at the company’s Houston master planned communities (MPCs) due to lower demand as a result of uncertainty in the energy business.



We are not particularly focused on HHC’s quarterly earnings results, nor on quarterly land sales at its MPCs. Rather, we track the company’s long-term growth in intrinsic value driven by development progress at each of the company’s assets. HHC continues to make remarkable progress converting non-income producing land into productive income-producing or saleable assets.





From Pershing Square's semi-annual 2015 report.



Check out Bill Ackman latest stock trades

Top Ranked Articles about The Howard Hughes Corp

Bill Ackman Comments on Howard Hughes Corp Guru stock highlight
Pershing Square presented the Howard Hughes Corporation (NYSE:HHC) at the Sohn Conference on May 8th . Here is a link to the powerpoint presentation. HHC held its second quarterly conference call on May 4th and intends to conduct its first ever Investor Day on May 17th at the South Street Seaport. It also released detailed Supplemental Information for the first time, in an effort to provide the market with increased transparency into its business. Read more...
Bill Ackman Comments on Howard Hughes Corp Guru stock highlight
The Howard Hughes Corporation (NYSE:HHC) was formed in November 2010 as a tax-free spinoff from General Growth Properties, with a collection of disparate real estate holdings designed to receive appropriate management attention and recognition in the public markets. Pershing Square helped orchestrate the spinoff, hired the management team, and has been the largest investor in HHC since its inception. Management has done a superb job growing asset value, yet, the company has not received the recognition it deserves, i.e., an appropriate valuation in the public markets. Despite a more than three-fold increase over the last six years, it remains undervalued in our view. Read more...
Bill Ackman Comments on The Howard Hughes Corporation Guru stock highlight
The Howard Hughes Corporation (NYSE:HHC) was formed in November 2010 as a tax-free spinoff from General Growth Properties, with a collection of disparate real estate holdings designed to receive appropriate management attention and recognition in the public markets. Pershing Square helped orchestrate the spinoff, hired the management team, and has been the largest investor in HHC since its inception. Management has done a superb job growing asset value, yet, the company has not received the recognition it deserves, i.e., an appropriate valuation in the public markets. Despite a more than three-fold increase over the last six years, it remains undervalued in our view. Read more...
Whitney Tilson and the Saga of Lumber Liquidators Is it time to look again at this hardwood flooring importer and retailer?
Whitney Tilson (Trades, Portfolio), one of the high-profile investors followed by GuruFocus, has dramatically reversed his opinion about Lumber Liquidators Holdings Inc. (NYSE:LL). Read more...
Bill Ackman Comments on The Howard Hughes Corp Guru stock highlight
Net Operating Income (NOI) from HHC (NYSE:HHC)’s operating assets (consolidated and owned) decreased sequentially from $35.2 million to $31.3 million (and year-over-year from $31.9 million), largely due to headwinds in Houston that continue to negatively impact HHC’s owned hotels in Houston ($3.5 million sequential decline in hospitality NOI). HHC held steady its projected stabilized annual NOI estimate (which excludes the South Street Seaport) of $215 million and kept constant its estimated stabilized hospitality NOI levels. Land sales in its Master Planned Community (MPC) segment decreased from $59 million to $32 million year-over-year in Q3 and sequentially from $34 million due primarily to a $27 million reduction in commercial sales from Q3 2015. Read more...
Keeley Asset Management’s Top 4 New Holdings Firm invests in health care, real estate and electronics in 3rd quarter
Keeley Asset Management Corp (Trades, Portfolio) gained 12 new holdings in the third quarter. The top four new holdings are Ensign Group Inc. (NASDAQ:ENSG), The Howard Hughes Corp. (NYSE:HHC), City Office REIT Inc. (NYSE:CIO) and Plantronics Inc. (NYSE:PLT). Read more...
Bill Ackman Comments on Howard Hughes Corp Guru stock highlight
HHC's second quarter report highlighted the continued progress it is making across all of its initiatives and business segments. Read more...

Ratios

vs
industry
vs
history
PE Ratio 85.88
HHC's PE Ratio is ranked lower than
79% of the 1275 Companies
in the Global Real Estate - General industry.

( Industry Median: 12.95 vs. HHC: 85.88 )
Ranked among companies with meaningful PE Ratio only.
HHC' s PE Ratio Range Over the Past 10 Years
Min: 23.5  Med: 28.37 Max: 87.05
Current: 85.88
23.5
87.05
PE Ratio without NRI 85.88
HHC's PE Ratio without NRI is ranked lower than
79% of the 1274 Companies
in the Global Real Estate - General industry.

( Industry Median: 13.18 vs. HHC: 85.88 )
Ranked among companies with meaningful PE Ratio without NRI only.
HHC' s PE Ratio without NRI Range Over the Past 10 Years
Min: 23.5  Med: 28.37 Max: 87.05
Current: 85.88
23.5
87.05
Price-to-Owner-Earnings 62.85
HHC's Price-to-Owner-Earnings is ranked lower than
61% of the 752 Companies
in the Global Real Estate - General industry.

( Industry Median: 11.91 vs. HHC: 62.85 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
HHC' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 9.26  Med: 28.76 Max: 82.62
Current: 62.85
9.26
82.62
PB Ratio 1.97
HHC's PB Ratio is ranked lower than
74% of the 1573 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.08 vs. HHC: 1.97 )
Ranked among companies with meaningful PB Ratio only.
HHC' s PB Ratio Range Over the Past 10 Years
Min: 0.66  Med: 1.79 Max: 2.95
Current: 1.97
0.66
2.95
PS Ratio 5.32
HHC's PS Ratio is ranked lower than
64% of the 1525 Companies
in the Global Real Estate - General industry.

( Industry Median: 2.86 vs. HHC: 5.32 )
Ranked among companies with meaningful PS Ratio only.
HHC' s PS Ratio Range Over the Past 10 Years
Min: 4.36  Med: 8.08 Max: 16.86
Current: 5.32
4.36
16.86
Price-to-Operating-Cash-Flow 126.32
HHC's Price-to-Operating-Cash-Flow is ranked lower than
92% of the 756 Companies
in the Global Real Estate - General industry.

( Industry Median: 12.66 vs. HHC: 126.32 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
HHC' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 17.61  Med: 37.84 Max: 1723.02
Current: 126.32
17.61
1723.02
EV-to-EBIT 37.86
HHC's EV-to-EBIT is ranked lower than
66% of the 1540 Companies
in the Global Real Estate - General industry.

( Industry Median: 12.88 vs. HHC: 37.86 )
Ranked among companies with meaningful EV-to-EBIT only.
HHC' s EV-to-EBIT Range Over the Past 10 Years
Min: -1154.3  Med: 13.4 Max: 197
Current: 37.86
-1154.3
197
EV-to-EBITDA 25.15
HHC's EV-to-EBITDA is ranked lower than
58% of the 1565 Companies
in the Global Real Estate - General industry.

( Industry Median: 12.08 vs. HHC: 25.15 )
Ranked among companies with meaningful EV-to-EBITDA only.
HHC' s EV-to-EBITDA Range Over the Past 10 Years
Min: -795.5  Med: 13.6 Max: 195.5
Current: 25.15
-795.5
195.5
Current Ratio 1.50
HHC's Current Ratio is ranked higher than
70% of the 1510 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.80 vs. HHC: 1.50 )
Ranked among companies with meaningful Current Ratio only.
HHC' s Current Ratio Range Over the Past 10 Years
Min: 0.52  Med: 3.62 Max: 12.07
Current: 1.5
0.52
12.07
Quick Ratio 1.50
HHC's Quick Ratio is ranked higher than
79% of the 1510 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.14 vs. HHC: 1.50 )
Ranked among companies with meaningful Quick Ratio only.
HHC' s Quick Ratio Range Over the Past 10 Years
Min: 0.52  Med: 3.62 Max: 12.07
Current: 1.5
0.52
12.07
Days Sales Outstanding 3.62
HHC's Days Sales Outstanding is ranked higher than
82% of the 1044 Companies
in the Global Real Estate - General industry.

( Industry Median: 25.07 vs. HHC: 3.62 )
Ranked among companies with meaningful Days Sales Outstanding only.
HHC' s Days Sales Outstanding Range Over the Past 10 Years
Min: 3.49  Med: 16.43 Max: 26.6
Current: 3.62
3.49
26.6
Days Payable 18.23
HHC's Days Payable is ranked higher than
91% of the 875 Companies
in the Global Real Estate - General industry.

( Industry Median: 69.50 vs. HHC: 18.23 )
Ranked among companies with meaningful Days Payable only.
HHC' s Days Payable Range Over the Past 10 Years
Min: 18.23  Med: 290.86 Max: 341.15
Current: 18.23
18.23
341.15

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -0.20
HHC's 3-Year Average Share Buyback Ratio is ranked higher than
75% of the 817 Companies
in the Global Real Estate - General industry.

( Industry Median: -4.40 vs. HHC: -0.20 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
HHC' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -1.6  Med: -1.5 Max: -0.2
Current: -0.2
-1.6
-0.2

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 2.01
HHC's Price-to-Tangible-Book is ranked lower than
73% of the 1543 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.12 vs. HHC: 2.01 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
HHC' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.7  Med: 1.82 Max: 2.92
Current: 2.01
0.7
2.92
Price-to-Median-PS-Value 0.66
HHC's Price-to-Median-PS-Value is ranked higher than
85% of the 1194 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.05 vs. HHC: 0.66 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
HHC' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.58  Med: 1.02 Max: 1.98
Current: 0.66
0.58
1.98
Price-to-Graham-Number 2.77
HHC's Price-to-Graham-Number is ranked lower than
76% of the 1087 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.81 vs. HHC: 2.77 )
Ranked among companies with meaningful Price-to-Graham-Number only.
HHC' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.37  Med: 1.49 Max: 2.77
Current: 2.77
1.37
2.77
Earnings Yield (Greenblatt) % 2.64
HHC's Earnings Yield (Greenblatt) % is ranked lower than
55% of the 1853 Companies
in the Global Real Estate - General industry.

( Industry Median: 6.51 vs. HHC: 2.64 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
HHC' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 0.5  Med: 3.5 Max: 8.7
Current: 2.64
0.5
8.7

More Statistics

Revenue (TTM) (Mil) $1,027
EPS (TTM) $ 1.49
Beta1.71
Short Percentage of Float4.48%
52-Week Range $101.20 - 131.39
Shares Outstanding (Mil)40.32
» More Articles for HHC

Headlines

Articles On GuruFocus.com
Bill Ackman Comments on Howard Hughes Corp May 12 2017 
Bill Ackman's 1st Quarter Shareholder Letter May 12 2017 
Bill Ackman Comments on Howard Hughes Corp May 08 2017 
Bill Ackman Comments on The Howard Hughes Corporation Mar 30 2017 
Whitney Tilson and the Saga of Lumber Liquidators Feb 28 2017 
Bill Ackman Comments on The Howard Hughes Corp Dec 09 2016 
Murray Stahl Exits Dreamworks, Buys AMC Networks Nov 25 2016 
Keeley Asset Management’s Top 4 New Holdings Nov 18 2016 
Bill Ackman Comments on Howard Hughes Corp Aug 29 2016 
Marty Whitman's Third Avenue Buys Lennar, Fidelity, Howard Hughes May 12 2016 

More From Other Websites
Is Howard Hughes Corporation a Millionaire-Maker Stock? May 28 2017
The Howard Hughes Corporation’s® Master Planned Communities Named among the Best Places to Live... May 23 2017
Blog Coverage Brookfield Announced Renewal of Normal Course Bid; Plans to Generate Excess Cash to... May 22 2017
​Architectural Digest names Howard Hughes’ Ward Village "Best Master Planned Community in the... May 16 2017
The Howard Hughes Corporation® Announces Investor Day Presentation Call-in Details May 16 2017
Why Bill Ackman Is Bullish on Howard Hughes Corp May 15 2017
Bill Ackman Comments on Howard Hughes Corp May 12 2017
Bill Ackman's 1st Quarter Shareholder Letter May 12 2017
Watch Bill Ackman’s full presentation from the 2017 Sohn ... May 12 2017
The Top Stock Pitches From the 2017 Sohn Investment Conference May 11 2017
Bill Ackman: Bullish on Howard Hughes at Sohn Conference May 11 2017
Restaurant, speakeasy opening in Columbia's Merriweather District May 09 2017
Sohn Investment Conference 2017: Live Blog May 09 2017
The Best Hedge Fund Trades From The 2017 Ira Sohn Investment Conference May 08 2017
Ackman pitches Howard Hughes, citing management and real estate locations May 08 2017
Bill Ackman's 2017 Shareholder Letter and Portfolio Commentary May 08 2017
Pershing Square's Ackman Says Howard Hughes ‘Attractive’ Buy Now May 08 2017
Ackman Pitches Real Estate Development Business Howard Hughes May 08 2017
Howard Hughes Corp. pops on bullish talk from Bill Ackman May 08 2017

Personalized Checklist

Checklist has been moved to "Checklist" tab.

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)