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The Howard Hughes Corporation (HHC)

NYSE - NYSE Delayed Price. Currency in USD
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88.87-0.93 (-1.04%)
At close: 04:00PM EST
88.00 -0.87 (-0.98%)
After hours: 06:16PM EST
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  • S
    S
    Really nice move this morning. Things are proceeding well. 👍
    Bullish
  • S
    S
    The Howard Hughes Corp. has taken out a $250 million loan against 1201 Lake Robbins Drive, one of the office towers in The Woodlands that the company purchased from Occidental Petroleum in 2019.
    Bullish
  • j
    john r
    huge acquisition outside of pheonix...Howard Hughes Corp., which is known across the country for its major master-planned communities, has paid $600 million for Douglas Ranch, a 37,000-acre master-planned community in Buckeye.
    Bullish
  • j
    john r
    10/29 interview with the ceo David O'Reilly: Our limiting factors, if you will, in terms of our ability to continue to grow and create value are two things; demand and capital. Right now, we're sitting with a billion and a half dollars of liquidity. I feel very good on the capital side. 1.5 billion in cash equals 27.00 per share
  • T
    THE P
    Phoenix....!!! $600 investment should return 5+ the initial....

    Got a little money left, how about Austin now....
  • j
    john r
    big drop on no news,,,, buying opportunity,,,,,
  • j
    john r
    if you are thinking about this stock you should look at their hawaii condos ... ward village.... they are outstanding
  • Y
    Yahoo Finance Insights
    The Howard Hughes is down 5.09% to 82.83
  • j
    john r
    I think ackman is working on taking this private.... every couple of months he buys some more.... up to over 24 percent now...
    Bullish
  • E
    Edward
    Where is the news on stock buybacks? Where is the announcements regarding a dividend? Where is the increase in the stock price? Year end report is all about exec compensation, merit increase and incentives for 2019. I really don't know why I continue to hold onto this stock.
  • S
    Steve-RationallyBullishOn1181
    Bill Ackman sold 6.9 million put options on HHC, with a $115 strike, expiring between Jan-Aug 2021......seems to support the speculation that Pershing might be planning to take HHC private in coming months, with a price north of $115.

    https://seekingalpha.com/filing/5036244
    The Howard Hughes Corporation 4 Jun. 5, 2020 5:04 PM
    seekingalpha.com
  • r
    robert
    Earnings should be good for Q2 after lumpy revenue in Q1.
  • E
    Edward
    Questions need to be raised after the earnings release and subsequent conference call with upper management. This stock has underperformed the market this year by 12%
  • j
    john r
    on 9/03/2021 pershing square bought 150,000 shares at 92.00 per share. i remember not lang ago ackman bought huge at 50 per share. he is the chairman of the board of directors. who else would know better what the value of hhc is ? he now owns over 24 percent of the company....
    Bullish
  • C
    Cameron
    Loading up the boat!!!
  • t
    tiantian
    After hours up 5% with decent volume. Something exciting brewing?
  • S
    S
    "Now on to the results of the quarter. We kick-started the year with a strong first quarter across all aspects of the business. The acceleration of new home sales and condo sales displayed in the second half of 2020 carried into the New Year. We also saw improvements within our operating assets that were impacted by COVID, which is very encouraging as we continue to see signs of recovery across our retail and hospitality portfolio. During the quarter, we took steps to fortify our balance sheet and proactively issued $1.3 billion of senior notes in an effort to further diversify our funding sources, term out our debt maturities, and lower our overall cost of debt. The combination of these events has allowed us to accelerate 2 million square feet of development in our core MPCs, and we continue to look for additional opportunities ahead.

    Within our MPC segment, new home sales, a leading indicator for future land sales, increased a staggering 35%, selling 929 new homes, 241 homes above the same period last year. MPC earnings before tax, or EBT, increased 44% to $63 million in Q1 of 2021 compared to Q1 of 2020, largely driven by higher custom lot sales in Summerlin and an increase in the number of units closed at The Summit, our joint venture with Discovery Land Company. It is also important to highlight these results were achieved without closing a single super-pad sale in Summerlin during the quarter.

    These figures showcase the volume of residents flocking to our communities, despite economic headwinds, that have negatively impacted the US economy for over a year. We believe the robust demand in our MPCs will continue for at least the remainder of the year, which gives us the confidence to raise our full year MPC EBT guidance. On our fourth quarter earnings call, we provided MPC EBT guidance for 2021 in a range of $180 million to $200 million. Following the results of the first quarter, we are now targeting a range of $210 million to $230 million. Correne will provide additional details on our MPC segment a bit later, as the increases in acres sold and price per acre provided the support to adjust our guidance.

    Our operating assets performed well during the quarter with a 10% sequential increase in NOI across the portfolio. One of the leading drivers of this increase was retail, which improved by 20% compared to the fourth quarter of 2020. The largest factors contributing to this increase were driven by our two largest retail footprints, Ward Village and Downtown Summerlin with NOI rising 55% and 44%, respectively. We've seen foot traffic steadily return to our retail locations, which has resulted in a corresponding increase in collections. During the first quarter, collections improved to 78%, the highest retail collection rate since the onset of the pandemic. These results are encouraging and demonstrate that we are well on our way to recovery as we move closer to pre-COVID levels.

    Perhaps the hardest hit area of our operating asset portfolio over the past year was our hospitality assets in The Woodlands. During the quarter, we nearly broke-even as we recorded a net operating loss of $147,000 compared to a net operating loss of $236,000 last quarter. While our three hotels continue to make steady improvements, business and leisure travel still remain at significantly lower levels relative to what they were a year ago. We've seen a slight increase in occupancy in our hotels over the last quarter, and we are hopeful this will continue throughout the year."
    Neutral
  • E
    Edward
    I think it's time for a management shakeup. The only ones making money on this stock are it's high paid executive employees. It's also time for HHC to start paying dividends or buying back it's stock. Maybe then we would see a rise in the price of this stock.
  • R
    Rob
    why is this not finding any bottom. They are selling like crazy in Houston.
  • S
    Sat
    Entering a position today! Easy money
    Bullish
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