Forget the others; these guys are the real deal. I am up 600% thanks to Penny Stock 101 (org) Look them up in Google and sign up for free.
I agree 100%! When you look at the roster of upcoming projects that HHC is involved in, it's staggering. They will be printing money in the near future. I know they had bad year's last year, but both Tilson and Ackman are mostly "all in" on HHC. That's some big money that sees even bigger money. I'm in for 1230 shares at $98.44. See you all again at $180!
I believe starting around the beginning of May as we approach earnings, HHC will start to climb into the $110 -$120 range. The next 6 quarters to bring steady income improvements, ultimately driving the price over$175. Then we go to REIT status in 2018 and the money pours into our accounts! Better pick up your cheap shares while you can in the next 2 weeks.
it's all about FFO........................and that sale to the Chineses doesn't hurt either!
" I've never focused on EPS for HHC."
Honestly, I really don't focus on the EPS numbers either. I mean look at the full year 2015 for the operating properties. $117M on the op properties with over $89M on D&A. You are correct in saying the bulk of the EPS is reflecting the MPC earnings but you'll never see the true earnings reflected from the operating properties because of that heavy D&A figure. I have a feeling you already know all this though.
FWIW, I believe the Seaport Assemblage being sold had a cost of something like 230M for the land/air rights. A 390M sale figure brings it around 160M. 160 / 44.65 = 3.58. So you are right. It won't be $5 bucks a share. Heck that's even if this transaction even comes through. Nothing related to the sale is in the 10-K. Not even a hint of a contract in place.
Personally, I'm glad to see someone else actually interested in this company/stock.
Sentiment: Strong Buy
Yeah, OK value. I will. As I said, I've never focused on EPS for HHC. I got 80M rough by going to the Q4 PR & dividing FY15's $127M of net by FY15's EPS of $1.60.
But, now I See that if I instead divide (from the same PR) Q4's $25.9 M of net by Q4's EPS of $0.59 then I get 44 M shares.
10K time. thanks
Pump, I have a feeling you are thinking about this wrong. I actually have no idea how you are coming up with 80M diluted shares.
39.7M shares + 1.9M from sponsers + 2.9M from mgmt warrants + 0.141M options = 44.65M shares DILUTED.
Go to 10-K and use F-18 for where I got those numbers.
On a side note by the end of 2018 NOI could conservatively ramp between 125 to 150% with the addition of the Seaport next year, Elk Grove, Hughes Landing occupancy increases, improvements at Ward Village and Colombia Crescent, ect. That's faster NOI growth than any two year segment in this company's history. Where do company shares trade at? Prices from over two years ago where value realization weren't nearly as promising! IMO This is one of the best risk/reward situations I have seen since the great recession.
Sentiment: Strong Buy
So, on the FY15 P&L,
$1.60 is the DILUTED EPS but $3.21 is the BASIC EPS
so obviously Diluted share count is about 2x the BASIC (warrants, as I remember it). Yahoo quotes 40 M sh but that must be the BASIC #.
Using 80 M DILUTED shares I come up with about $3.30 EPS for FY16, but I haven't bothered to check if something changes in the warrants / share count in 2016.
Well, come to think about it, I WOULD get $5 EPS but I don't actually ever bother calculating EPS. I should say, if they earned $1.60 in FY15 on roughly $125 M (my #) of net income, then adding $165 M wouldn't triple EPS to $5. However, as I look at the share count, $125 M of net would be $3 EPS on 40 M shares. I remember the $1.60 from their PR. Let me check.
OK, thanks raide. I hadn't added SSSeaport in, but it makes sense since selling assets still provides 90% or more of HHC profits.
When I add in $165 M of profit after-tax, I still don't get $5 in EPS though.
The reported sale of buildings and air rights in the Seaport vicinity, if it goes through, will result in a gain of about $200,000,000. That alone will account for $5.
Sentiment: Strong Buy
MPC could earn less.
Oahu prob earn a lot more but not even enough more to totally replace the warrant gain & the Carlton gain.
Buildings prob NOI up 20-30% but not after increased depreciation
Other than share count or tax rate, $5+ makes no sense to me. A repeat of the $1.60 seems more likely.