Trending Stock: The Howard Hughes Corporation (NYSE: HHC)

Jonathan Perez

I am Jonathan Perez and I focus on breaking news stories and ensuring we (“News Tech Markets”) offer timely reporting on some of the most recent stories released through market wires about “Financial” sector.

I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for News Tech Markets specializing in quicker moving active shares with a short term view on investment opportunities and trends.

Address: 2769 James Street, Wellsville, NY 14895, USA
Phone: (+1) 585-593-8040
Email: jonathanperez@newstechmarkets.com
Jonathan Perez

DALLAS, November 30, 2019 – Shares of The Howard Hughes Corporation (NYSE: HHC) gained 0.08% to $110.56. The stock grabbed the investor’s attention and traded 204.620K shares as compared to its average daily volume of 252.70K shares. The stock’s institutional ownership stands at 90.80%.

The Howard Hughes Corporation® (HHC) reported increase in net income attributable to common stockholders to $13.50M, or $0.31 per diluted share, for the three months ended June 30, 2019, as compared to $5.10M, or $(0.12) per diluted share, for the three months ended June 30, 2018.

FFO increased $68.00M, or $1.57 per diluted share, for the six months ended June 30, 2019 and $29.80M, or $0.68 per diluted share, for the three months ended June 30, 2019, compared to the same periods in 2018. The increase for the six months ended June 30, 2019 was primarily attributable to the increase in Condominium rights and unit sales, net due to Ae’o closings, partially offset by higher operating losses at the Seaport District. The increase for the three months ended June 30, 2019 is partly due to an increase in Condominium rights and unit sales, net led by closings at Ke Kilohana as well as the absence of the $13.40M charge for window repairs at Waiea which was recorded in the second quarter of 2018 but did not recur in 2019.

Core FFO increased $73.40M, or $1.68 per diluted share, for the six months ended June 30, 2019 and increased $29.40M, or $0.67 per diluted share, for the three months ended June 30, 2019, compared to the same periods in 2018 primarily due to the factors discussed in the FFO section above, as well as a higher Deferred income tax expense, partially offset by lower Other non-recurring expenses.

AFFO, our Core FFO adjusted to exclude recurring capital improvements and leasing commissions, increased $79.40M, or $1.82 per diluted share, for the six months ended June 30, 2019 and increased $32.00M, or $0.74 per diluted share, for the three months ended June 30, 2019 compared to the same periods in 2018 primarily due to the items mentioned in the FFO and Core FFO discussions above as well as lower tenant and capital improvements.

HHC has a market value of $4.66B while its EPS was booked as $2.60 in the last 12 months. The stock has 42.13M shares outstanding. In the profitability analysis, the company has gross profit margin of 34.00% while net profit margin was 7.60%. Beta value of the company was 1.28; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 1.70.

Jonathan Perez

Jonathan Perez

I am Jonathan Perez and I focus on breaking news stories and ensuring we (“News Tech Markets”) offer timely reporting on some of the most recent stories released through market wires about “Financial” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for News Tech Markets specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 2769 James Street, Wellsville, NY 14895, USA Phone: (+1) 585-593-8040 Email: jonathanperez@newstechmarkets.com

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