Howard Hughes (HHC)

Company Profile

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country's preeminent portfolio of master planned cities and communities, as well as operating properties and development opportunities including: the Seaport District in New York; Columbia, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawai?i. The Howard Hughes Corporation's portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities.

Company profile

Ticker

HHC

Exchange

NYSE

Website

www.howardhughes.com

CEO

Paul Layne

Incorporated

Delaware

Location

Texas

Fiscal year end

Dec 31

Sector

Finance and Insurance > Other Financial Vehicles

Industry (SIC)

Real Estate Investment Trusts

Annaly Capital Management • AGNC Investment • Simon Property • Prologis • ARMOUR Residential REIT • VEREIT • Invesco Mortgage Capital • Vornado Realty • Vornado Realty Trust • Healthpeak Properties ...

Former names

Spinco, Inc.

SEC CIK

0001498828

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

10 CCC, LLC • 10/20/30 CCC Parking Deck, LLC • 20 CCC, LLC • 30 CCC, LLC • 40 CCC, LLC • 40 CCC Parking Deck, LLC • 50 CCC, LLC • 50/60/70 CCC Parking Deck, LLC • 60 CCC, LLC • 3 Waterway Holdings, LLC ...

IRS number

364673192

HHC stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Latest filings (excl ownership)

View all

8-K

Submission of Matters to a Vote of Security Holders

26 May 23

8-K/A

Departure of Directors or Certain Officers

8 May 23

The Howard Hughes Corporation® Reports First Quarter 2023 Results

8 May 23

ARS

2022 FY

Annual report to shareholders

3 May 23

DEFA14A

Additional proxy soliciting materials

Departure of Directors or Certain Officers

The Howard Hughes Corporation® Reports Fourth Quarter and Full-year 2022 Results

27 Feb 23

Transcripts

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HHC

Earnings call transcript

2023 Q1

9 May 23

HHC

Earnings call transcript

2022 Q4

28 Feb 23

HHC

Earnings call transcript

2022 Q3

21 Nov 22

HHC

Earnings call transcript

2022 Q2

6 Aug 22

HHC

Earnings call transcript

2022 Q1

10 May 22

HHC

Earnings call transcript

2021 Q4

1 Mar 22

HHC

Earnings call transcript

2021 Q3

5 Nov 21

HHC

Earnings call transcript

2021 Q2

6 Aug 21

HHC

Earnings call transcript

2021 Q1

11 May 21

HHC

Earnings call transcript

2020 Q4

27 Feb 21

Latest ownership filings

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Pershing Square Capital Management, L.P.

Financial summary

Financial statements Chart HHC financial data

Quarter (USD)	Mar 23	Dec 22	Sep 22	Jun 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	889.17 mm	889.17 mm	889.17 mm	889.17 mm	889.17 mm	889.17 mm
Cash burn (monthly)	69.92 mm	13.70 mm	7.97 mm	(no burn)	48.09 mm	(no burn)
Cash used (since last report)	152.35 mm	29.84 mm	17.36 mm	n/a	104.78 mm	n/a
Cash remaining	736.83 mm	859.33 mm	871.81 mm	n/a	784.39 mm	n/a
Runway (months of cash)	10.5	62.7	109.4	n/a	16.3	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q1 2023

HHC institutional ownership history Ownership history

93.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	240	234	+2.6%
Opened positions	33	44	-25.0%
Closed positions	27	46	-41.3%
Increased positions	81	72	+12.5%
Reduced positions	77	75	+2.7%

13F shares	Current	Prev Q	Change
Total value	3.69 tn	3.55 tn	+4.1%
Total shares	46.86 mm	47.21 mm	-0.7%
Total puts	43.20 k	45.40 k	-4.8%
Total calls	26.10 k	25.60 k	+2.0%
Total put/call ratio	1.7	1.8	-6.7%

Largest owners	Shares	Value	Change
Pershing Square Capital Management	15.98 mm	$1.28 tn	+0.6%
Vanguard	5.11 mm	$409.04 bn	-1.2%
Baillie Gifford & Co	2.63 mm	$210.79 bn	-7.4%
Barrow Hanley Mewhinney & Strauss	2.25 mm	$179.92 bn	+29.9%
PFG Principal Financial Group Inc - Registered Shares	2.16 mm	$173.02 bn	-2.3%
Harris Associates L P	2.10 mm	$168.34 bn	-1.2%
Dimensional Fund Advisors	1.91 mm	$152.58 bn	+5.1%
BLK Blackrock	1.68 mm	$134.51 bn	-2.4%
New South Capital Management	688.17 k	$55.05 bn	-3.7%
Donald Smith & Co.	625.90 k	$50.07 bn	+0.0%

Largest transactions	Shares	Bought/sold	Change
Barrow Hanley Mewhinney & Strauss	2.25 mm	+517.89 k	+29.9%
Millennium Management	0.00	-429.36 k	EXIT
Norges Bank	0.00	-362.44 k	EXIT
Baillie Gifford & Co	2.63 mm	-210.43 k	-7.4%
Deutsche Bank AG - Registered Shares	306.68 k	+178.85 k	+139.9%
Bernzott Capital Advisors	226.35 k	-162.09 k	-41.7%
PM CAPITAL	299.64 k	-153.70 k	-33.9%
Prospector Partners	142.85 k	+142.85 k	NEW
T. Rowe Price	134.52 k	-130.72 k	-49.3%
SG Americas Securities	0.00	-125.60 k	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

HHC insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
1 Jun 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.71	15,609	1.17 mm	16,489,284
31 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.23	36,901	2.74 mm	16,473,675
30 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.71	22,175	1.66 mm	16,436,774
26 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.31	30,557	2.27 mm	16,414,599
25 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.01	39,588	2.93 mm	16,384,042
24 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	73.59	43,294	3.19 mm	16,344,454
23 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.47	47,200	3.51 mm	16,301,160
22 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.89	8,169	611.78 k	16,253,960
19 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.51	35,483	2.64 mm	16,245,791
18 May 23	Pershing Square Capital Management	Common stock, par value $0.01 per share	Buy	Acquire P	Yes	Yes	74.76	17,955	1.34 mm	16,210,308