Market Summary
USD76.27+0.06
Market Closed0.08%
HHC Stock Price
HHC RSI Chart
HHC Valuation
HHC Price/Sales (Trailing)
HHC Profitability
HHC Fundamentals
HHC Revenue
HHC Earnings
Price Action
52 Week Range
50.90105.51
(Low)(High)
Last 7 days
0.9%
Last 30 days
-7.9%
Last 90 days
-1.5%
Trailing 12 Months
-24.8%
HHC Financial Health
HHC Investor Care
Peers (Alternatives to Howard Hughes)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
PSA | 50.2B | 4.2B | -2.35% | -20.22% | 11.54 | 12 | 22.43% | 122.66% |
DLR | 27.4B | 4.7B | -9.47% | -29.05% | 72.46 | 5.83 | 5.96% | -77.90% |
CBRE | 21.6B | 30.8B | -18.38% | -23.13% | 15.33 | 0.7 | 11.11% | -23.37% |
EQR | 21.3B | 2.7B | -11.76% | -35.76% | 27.37 | 7.83 | 11.91% | -41.71% |
| MID-CAP | ||||||||
JLL | 6.6B | 20.9B | -17.42% | -40.59% | 10.14 | 0.32 | 7.72% | -31.94% |
HHC | 3.8B | 1.6B | -7.93% | -24.82% | 20.57 | 2.36 | 12.65% | 277.39% |
CWK | 2.3B | 10.1B | -21.57% | -49.43% | 11.7 | 0.23 | 7.64% | -21.44% |
KW | 2.2B | 540.0M | -4.37% | -31.08% | 21.89 | 4.13 | 19.05% | -69.71% |
| SMALL-CAP | ||||||||
MMI | 1.2B | 1.3B | -9.84% | -38.06% | 11.52 | 0.92 | 0.41% | -26.84% |
RDFN | 907.2M | 2.3B | 8.67% | -54.81% | -2.82 | 0.4 | 18.81% | -192.98% |
FOR | 746.0M | 1.3B | 6.86% | -12.21% | 4.69 | 0.56 | -6.88% | 23.62% |
TRC | 484.6M | 634.0K | -5.44% | 0.66% | 30.66 | 764.43 | 1012.28% | 195.59% |
TCI | 362.1M | 32.0M | -6.09% | 11.02% | 0.9 | 11.32 | -37.68% | 2303.50% |
Financials for Howard Hughes
| Income Statement (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Revenue | -16.8% | 1,608 | 1,932 | 1,512 | 1,448 | 1,428 |
| S&GA Expenses | 0.1% | 82.00 | 82.00 | 81.00 | 86.00 | 82.00 |
| Costs and Expenses | -15.1% | 1,271 | 1,497 | 1,221 | 1,197 | 1,215 |
| EBITDA | -11.2% | 556 | 626 | 506 | 484 | - |
| EBITDA Margin | 6.7% | 0.35* | 0.32* | 0.34* | 0.33* | - |
| Earnings Before Taxes | -22.5% | 245 | 316 | 183 | 156 | 64.00 |
| EBT Margin | -6.9% | 0.15* | 0.16* | 0.12* | 0.11* | - |
| Interest Expenses | -1.7% | 111 | 113 | 120 | 123 | 130 |
| Net Income | -23.9% | 185 | 243 | 137 | 119 | 49.00 |
| Net Income Margin | -8.6% | 0.11* | 0.13* | 0.09* | 0.08* | - |
| Free Cahsflow | 1259.4% | 325 | -28.05 | -299 | -299 | - |
| Balance Sheet | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Assets | 1.0% | 9,603 | 9,509 | 9,508 | 9,468 | 9,582 |
| Cash Equivalents | 76.7% | 627 | 355 | 573 | 688 | 843 |
| Goodwill | - | 1.00 | - | - | - | - |
| Liabilities | 0.7% | 5,997 | 5,958 | 6,064 | 5,914 | 5,849 |
| Long Term Debt | - | 4,591 | - | - | - | - |
| Shareholder's Equity | 1.6% | 3,540 | 3,486 | 3,444 | 3,553 | 3,710 |
| Retained Earnings | 45.7% | 168 | 115 | 7.00 | -14.33 | -16.46 |
| Additional Paid-In Capital | 0.1% | 3,973 | 3,970 | 3,967 | 3,964 | 3,960 |
| Shares Outstanding | -0.2% | 50.00 | 50.00 | 50.00 | 52.00 | 54.00 |
| Minority Interest | 0.9% | 66.00 | 65.00 | 50.00 | 1.00 | 1.00 |
| Cashflow (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Cashflow From Operations | 1259.4% | 325 | -28.05 | -299 | -299 | -283 |
| Share Based Compensation | 2.3% | 12.00 | 12.00 | 12.00 | 11.00 | 10.00 |
| Cashflow From Investing | 4.6% | -220 | -231 | 72.00 | 192 | 101 |
| Cashflow From Financing | 15.5% | -222 | -262 | -132 | -13.13 | 156 |
| Buy Backs | -15.5% | 404 | 478 | 453 | 260 | 81.00 |
Risks for HHC
What is the probability of a big loss on HHC?
78.5%
Probability that Howard Hughes stock will be more than 20% underwater in next one year
48.5%
Probability that Howard Hughes stock will be more than 30% underwater in next one year.
35.8%
Probability that Howard Hughes stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does HHC drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Howard Hughes was unfortunately bought at previous high price.
Drawdowns
Returns for HHC
Cumulative Returns on HHC
-0.9%
10-Year Cumulative Returns
-3.8%
7-Year Cumulative Returns
-11.0%
5-Year Cumulative Returns
11.1%
3-Year Cumulative Returns
What are the long-term rolling returns for HHC?
FIve years rolling returns for Howard Hughes.
Annualized Returns
Which funds bought or sold HHC recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-03-23 | MetLife Investment Management, LLC | added | 0.4 | 16,065 | 57,774 | -% |
2023-03-17 | American Portfolios Advisors | unchanged | - | -6,545 | 28,637 | -% |
2023-03-10 | BAILLIE GIFFORD & CO | reduced | -3.08 | 54,833,400 | 217,442,000 | 0.23% |
2023-03-10 | VICTORY CAPITAL MANAGEMENT INC | added | 1,507 | 6,581,170 | 6,892,170 | 0.01% |
2023-03-06 | Rockefeller Capital Management L.P. | reduced | -9.2 | 2,000 | 11,000 | -% |
2023-02-28 | Voya Investment Management LLC | added | 0.4 | 100,772 | 361,772 | -% |
2023-02-24 | NATIXIS | new | - | 9,812,330 | 9,812,330 | 0.06% |
2023-02-22 | CVA Family Office, LLC | new | - | 764 | 764 | -% |
2023-02-21 | MACQUARIE GROUP LTD | sold off | -100 | -2,846,000 | - | -% |
2023-02-21 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | new | - | 2,827 | 2,827 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Howard Hughes News
Schedule 13G FIlings of Howard Hughes
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 09, 2023 | vanguard group inc | 10.37% | 5,173,150 | SC 13G/A | |
| Jan 23, 2023 | baillie gifford & co | 5.70% | 2,845,360 | SC 13G/A | |
| Apr 18, 2022 | pershing square capital management, l.p. | 26.0% | 13,620,164 | SC 13D/A | |
| Feb 15, 2022 | principal global investors | 3.85% | 2,125,002 | SC 13G/A | |
| Jan 27, 2022 | baillie gifford & co | 6.30% | 3,471,556 | SC 13G/A | |
| Feb 16, 2021 | principal global investors | 5.06% | 2,780,194 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 10.78% | 5,919,981 | SC 13G/A | |
| Jan 20, 2021 | baillie gifford & co | 6.32% | 3,472,329 | SC 13G | |
| Jan 11, 2021 | pershing square capital management, l.p. | 24.5% | 13,470,008 | SC 13D/A | |
| Jun 05, 2020 | pershing square capital management, l.p. | 19.9% | 10,918,008 | SC 13D/A |
HHC Fair Value
Howard Hughes fair value in different scenarios
The table shows the Fair Value estimates for Howard Hughes for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
| Fair Value | Very Pessimistic | Pessimistic | Base Case | Optimistic | Very Optimistic |
|---|---|---|---|---|---|
| Very Low Inflation | 44.32 -41.89% | 57.21 -24.99% | 80.08 5.00% | 100.18 31.35% | 116.40 52.62% |
| Current Inflation | 42.11 -44.79% | 53.27 -30.16% | 72.83 -4.51% | 89.76 17.69% | 103.43 35.61% |
| Very High Inflation | 39.35 -48.41% | 48.48 -36.44% | 64.21 -15.81% | 77.56 1.69% | 88.37 15.86% |
Historical Howard Hughes Fair Value Estimates
Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price
Recent SEC filings of Howard Hughes
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading | |
| Mar 27, 2023 | 4 | Insider Trading |
Latest Insider Trading transactions for HHC
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-03-17 | Pershing Square Capital Management, L.P. | bought | 206,242 | 74.97 | 2,751 | - |
2023-03-16 | Stephan Frank | acquired | - | - | 3,027 | president, nevada |
2023-03-16 | Pershing Square Capital Management, L.P. | bought | 22,422 | 74.74 | 300 | - |
2023-03-15 | Pershing Square Capital Management, L.P. | bought | 1,459,460 | 74.63 | 19,556 | - |
2023-03-14 | Pershing Square Capital Management, L.P. | bought | 1,125,670 | 74.9 | 15,029 | - |
2023-03-13 | Pershing Square Capital Management, L.P. | bought | 2,080,240 | 74.59 | 27,889 | - |
2023-02-22 | Striph David Michael | sold (taxes) | -10,715 | 85.72 | -125 | evp, head of operations |
2023-02-22 | Winick Zachary | sold (taxes) | -10,029 | 85.72 | -117 | co-president, new york region |
2023-02-22 | Melton Heath | sold (taxes) | -7,800 | 85.72 | -91.00 | president, phoenix region |
2023-02-22 | Fitchitt Greg | sold (taxes) | -8,229 | 85.72 | -96.00 | president, columbia |
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through four segments: Operating Assets; Master Planned Communities (MPCs); Seaport District; and Strategic Developments. As of December 31, 2020, the Operating Assets segment owned 15 retail, 33 office, 12 multi-family, 3 hospitality, and 13 other operating assets and investments primarily located in The Woodlands, Texas; Chicago, Illinois; Columbia, Maryland; Las Vegas, Nevada; and Honolulu, Hawaii. The MPCs segment develops and sells detached and attached single family homes, and range from entry-level to luxury homes to residential homebuilders and developers; and sells or leases land for commercial development, including land parcels designated for retail, office, hospitality, and residential projects. The Seaport District segment is involved in the landlord operations, managed businesses, and events and sponsorships. The Strategic Development segment invests in residential condominium and commercial property projects. This segment consists of 18 development or redevelopment projects. The Howard Hughes Corporation was founded in 2010 and is headquartered in Dallas, Texas.
HHC Income Statement
2022-12-31CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
| REVENUES | |||
| Rental revenue | $ 399,103 | $ 369,330 | $ 323,182 |
| Total revenues | 1,608,488 | 1,427,901 | 699,489 |
| EXPENSES | |||
| Operating costs | 317,389 | 293,999 | 226,791 |
| Rental property real estate taxes | 54,033 | 55,398 | 52,815 |
| Provision for (recovery of) doubtful accounts | 1,959 | (459) | 6,009 |
| General and administrative | 81,772 | 81,990 | 109,402 |
| Depreciation and amortization | 200,361 | 205,100 | 217,467 |
| Other | 11,977 | 10,668 | 8,166 |
| Total expenses | 1,270,940 | 1,214,525 | 830,384 |
| OTHER | |||
| Provision for impairment | 0 | (13,068) | (48,738) |
| Gain (loss) on sale or disposal of real estate and other assets, net | 29,678 | 53,079 | 59,942 |
| Other income (loss), net | 1,909 | (11,515) | 130 |
| Total other | 31,587 | 28,496 | 11,334 |
| Operating income (loss) | 369,135 | 241,872 | (119,561) |
| Interest income | 3,818 | 107 | 2,368 |
| Interest expense | (110,891) | (130,036) | (132,257) |
| Gain (loss) on extinguishment of debt | (2,377) | (38,014) | (13,169) |
| Equity in earnings (losses) from unconsolidated ventures | (14,549) | (9,852) | 271,099 |
| Income (loss) before income taxes | 245,136 | 64,077 | 8,480 |
| Income tax expense (benefit) | 60,500 | 15,153 | 11,653 |
| Net income (loss) | 184,636 | 48,924 | (3,173) |
| Net (income) loss attributable to noncontrolling interests | (103) | 7,176 | (22,981) |
| Net income (loss) attributable to common stockholders, basic | 184,533 | 56,100 | (26,154) |
| Net income (loss) attributable to common stockholders, diluted | $ 184,533 | $ 56,100 | $ (26,154) |
| Basic income (loss) per share (in dollars per share) | $ 3.65 | $ 1.03 | $ (0.50) |
| Diluted income (loss) per share (in dollars per share) | $ 3.65 | $ 1.03 | $ (0.50) |
| Condominium rights and unit sales | |||
| REVENUES | |||
| Revenue | $ 677,078 | $ 514,597 | $ 1,143 |
| EXPENSES | |||
| Cost of sales | 483,983 | 414,199 | 108,229 |
| Master Planned Communities land sales | |||
| REVENUES | |||
| Revenue | 316,065 | 346,217 | 233,044 |
| EXPENSES | |||
| Cost of sales | 119,466 | 153,630 | 101,505 |
| Other land, rental and property revenues | |||
| REVENUES | |||
| Revenue | 144,481 | 152,619 | 105,048 |
| Builder price participation | |||
| REVENUES | |||
| Revenue | $ 71,761 | $ 45,138 | $ 37,072 |
HHC Balance Sheet
2022-12-31CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
|---|---|---|
| ASSETS | ||
| Master Planned Communities assets | $ 2,411,526 | $ 2,282,768 |
| Buildings and equipment | 4,246,389 | 3,962,441 |
| Less: accumulated depreciation | (867,700) | (743,311) |
| Land | 312,230 | 322,439 |
| Developments | 1,125,027 | 1,208,907 |
| Net investment in real estate | 7,227,472 | 7,033,244 |
| Investments in unconsolidated ventures | 246,171 | 369,949 |
| Net investment in lease receivable | 2,895 | 2,913 |
| Cash and cash equivalents | 626,653 | 843,212 |
| Restricted cash | 472,284 | 373,425 |
| Accounts receivable, net | 103,437 | 86,388 |
| Municipal Utility District receivables, net | 473,068 | 387,199 |
| Notes receivable, net | 3,339 | 7,561 |
| Deferred expenses, net | 128,865 | 119,825 |
| Operating lease right-of-use assets, net | 46,926 | 57,022 |
| Prepaid expenses and other assets, net | 272,353 | 300,956 |
| Total assets | 9,603,463 | 9,581,694 |
| LIABILITIES | ||
| Mortgages, notes and loans payable, net | 4,747,183 | 4,591,157 |
| Operating lease obligations | 51,321 | 69,363 |
| Deferred tax liabilities, net | 254,336 | 204,837 |
| Accounts payable and accrued expenses | 944,511 | 983,167 |
| Total liabilities | 5,997,351 | 5,848,524 |
| Commitments and Contingencies (see Note 10) | ||
| Redeemable noncontrolling interest | 0 | 22,500 |
| EQUITY | ||
| Preferred stock: $0.01 par value; 50,000,000 shares authorized, none issued | 0 | 0 |
| Common stock: $0.01 par value; 150,000,000 shares authorized, 56,226,273 issued and 49,801,997 outstanding as of December 31, 2022, and 56,173,276 shares issued and 54,065,661 outstanding as of December 31, 2021 | 564 | 563 |
| Additional paid-in capital | 3,972,561 | 3,960,418 |
| Retained earnings (accumulated deficit) | 168,077 | (16,456) |
| Accumulated other comprehensive income (loss) | 10,335 | (14,457) |
| Treasury stock, at cost, 6,424,276 shares as of December 31, 2022, and 2,107,615 shares as of December 31, 2021 | (611,038) | (220,073) |
| Total stockholders' equity | 3,540,499 | 3,709,995 |
| Noncontrolling interests | 65,613 | 675 |
| Total equity | 3,606,112 | 3,710,670 |
| Total liabilities and equity | $ 9,603,463 | $ 9,581,694 |