Royal Bank of Canada reduced its position in shares of Howard Hughes Corp (NYSE:HHC) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 197,801 shares of the financial services provider’s stock after selling 1,443 shares during the quarter. Royal Bank of Canada owned about 0.36% of Howard Hughes worth $9,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HHC. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Howard Hughes during the 1st quarter valued at $46,000. Whittier Trust Co. boosted its stake in Howard Hughes by 24,000.0% during the 1st quarter. Whittier Trust Co. now owns 964 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 960 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Howard Hughes by 165.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,075 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 670 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Howard Hughes during the 1st quarter valued at $78,000. Finally, Pinz Capital Management LP boosted its stake in shares of Howard Hughes by 733.3% during the 1st quarter. Pinz Capital Management LP now owns 2,500 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 2,200 shares in the last quarter. 90.65% of the stock is owned by hedge funds and other institutional investors.

HHC opened at $52.66 on Tuesday. The stock has a fifty day moving average of $53.08 and a 200-day moving average of $84.64. The firm has a market capitalization of $2.77 billion, a P/E ratio of -27.57 and a beta of 1.61. Howard Hughes Corp has a 12-month low of $35.10 and a 12-month high of $135.42. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.16.

Howard Hughes (NYSE:HHC) last announced its quarterly earnings data on Monday, May 11th. The financial services provider reported ($2.88) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($2.66). Howard Hughes had a negative return on equity of 0.99% and a negative net margin of 7.40%. The firm had revenue of $175.20 million for the quarter, compared to analysts’ expectations of $236.14 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. Howard Hughes’s revenue was down 50.4% on a year-over-year basis. On average, analysts expect that Howard Hughes Corp will post -6.58 earnings per share for the current fiscal year.

In related news, Director Pershing Square Capital Manage sold 1,749,072 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $58.66, for a total transaction of $102,600,563.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 35.70% of the stock is currently owned by company insiders.

HHC has been the subject of several research reports. Piper Sandler raised their price objective on Howard Hughes from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Zacks Investment Research lowered Howard Hughes from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. TheStreet lowered Howard Hughes from a “c-” rating to a “d” rating in a report on Monday, May 18th. Finally, BWS Financial restated a “buy” rating and issued a $80.00 target price on shares of Howard Hughes in a report on Monday, June 8th.

Howard Hughes Company Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai’i.

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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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