Truist Financial Corp Reduces Holdings in Howard Hughes Holdings Inc. (NYSE:HHH)

Truist Financial Corp lessened its holdings in Howard Hughes Holdings Inc. (NYSE:HHH) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,020 shares of the company’s stock after selling 5,018 shares during the period. Truist Financial Corp’s holdings in Howard Hughes were worth $1,969,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Howard Hughes in the 3rd quarter valued at approximately $359,181,000. Baillie Gifford & Co. acquired a new stake in shares of Howard Hughes during the third quarter valued at $188,891,000. Principal Financial Group Inc. acquired a new stake in shares of Howard Hughes during the third quarter valued at $156,887,000. Brandywine Global Investment Management LLC purchased a new stake in Howard Hughes during the 3rd quarter worth about $44,577,000. Finally, Jennison Associates LLC acquired a new position in Howard Hughes in the 3rd quarter valued at about $34,301,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Heath Melton sold 1,926 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $72.95, for a total transaction of $140,501.70. Following the completion of the sale, the insider now directly owns 9,274 shares in the company, valued at approximately $676,538.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 33.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their price target on shares of Howard Hughes from $90.00 to $84.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th.

Howard Hughes Price Performance

HHH stock opened at $67.39 on Friday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -6.05 and a beta of 1.49. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.73. Howard Hughes Holdings Inc. has a 52-week low of $59.00 and a 52-week high of $86.72. The stock’s fifty day simple moving average is $68.69 and its 200-day simple moving average is $74.41.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.44 by $0.25. The company had revenue of $335.84 million during the quarter, compared to analysts’ expectations of $318.32 million. Howard Hughes had a negative return on equity of 0.62% and a negative net margin of 53.88%. Equities research analysts expect that Howard Hughes Holdings Inc. will post 2.69 EPS for the current year.

Howard Hughes Company Profile

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments.