Howard Hughes Corporation (HHC) Quote

Bill Ackman's Pershing Square has recently made a significant investment in Howard Hughes Holdings Inc. (HHH), resulting in a substantial ownership stake. As of the most recent information available, Bill Ackman's Pershing Square will now own 46.9% of Howard Hughes Holdings Inc. (HHH) [3] [5]. This stake is the result of a $900 million investment, where Pershing Square acquired nine million newly issued shares of HHH at $100 per share [3] [4] [5]. This purchase price was 48% above the stock's closing price on the Friday prior to the announcement [5].

This strategic move by Pershing Square is intended to transform Howard Hughes Holdings into a diversified holding company, mirroring the model of Warren Buffett's Berkshire Hathaway [5] [6]. Bill Ackman, founder and CEO of Pershing Square, has expressed his admiration for Buffett and his intent to build a similar conglomerate [5] [6]. As part of this transformation, Ackman will assume the role of Executive Chairman of Howard Hughes' board, and Pershing Square's Chief Investment Officer, Ryan Israel, will become CIO of HHH [3] [5].

Pershing Square's involvement extends beyond just equity acquisition; they will provide comprehensive support to HHH, including financial advice, transaction facilitation, strategic market positioning, and assistance in identifying and hedging macroeconomic risks [3] [4]. While Pershing Square will hold a 46.9% stake, they have agreed to limit their voting power in the company to 40% [3] [5]. Howard Hughes Holdings will also pay Pershing Square a quarterly base fee of $3.75 million, along with a management fee tied to changes in HHH's market capitalization [3] [5].

This increased investment and strategic partnership underscore Ackman's high conviction in HHH, which he views as undervalued with appreciating land assets and a growing revenue stream [6]. Analysts have responded positively to the deal, with JPMorgan Chase analyst Anthony Paolone describing it as a "transformational shift" [2] [4]. The consensus among analysts is a "Strong Buy" rating for HHH stock, with an average price target of $89 and a high target of $105 [2] [4] [6].

Citations
The move signifies a deep commitment from Pershing Square to leverage its expertise and resources to drive significant value creation at Howard Hughes Holdings, moving beyond its traditional real estate development focus to become a broader investment vehicle [3] [5] [6].

Authoritative Sources
Billionaire Bill Ackman’s 7 Stock Picks with Huge Upside Potential. [finance.yahoo.com]↩
Should You Buy, Sell, or Hold Howard Hughes Stock as Bill Ackman Doubles Down? [palmettograin.com]↩
Pershing Square to Invest $900 million to Acquire Nine Million Newly Issued Shares of Howard Hughes Holdings and Transform HHH Into a Diversified Holding Company. [investor.howardhughes.com]↩
Should You Buy, Sell, or Hold Howard Hughes Stock as Bill Ackman Doubles Down? [theglobeandmail.com]↩
Bill Ackman's Pershing Square strikes $900 million deal for more control of Howard Hughes. [cnbc.com]↩
Howard Hughes Holdings Inc. (HHH). [stockanalysis.com]↩
Concentrated Investment Strategy. [pershingsquareholdings.com]↩
Activist Investing. [investopedia.com]↩
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So, here is a mini update on what's going on with the Howard Hughes Corp for the board.

The Company took a beating in 2020, but it looks like it's going to recover in 2021 and 2022 on pandemic related improvements and declines in lumber costs. Vickers says that earnings should be up 400% in 2022.

More details, and some other stock suggestions here:

https://www.savingadvice.com/articles/2021/07/21/1084826_buy-these-6-housing-stocks-for-a-rocket-to-the-moon.html

The highs from 2014/15 have been cut by ~75%...

Great day here for HHC. Congratulations going out to Mr. Potty on his winnings. Congratulations to everyone for following pretty boy Ackman. Pretty soon it will be FNMA turn.

News: $HHC The Howard Hughes Corporation® Announces Review of Strategic Alternatives to Maximize Shareholder Value

DALLAS , June 27, 2019 /PRNewswire/ -- In light of recent media speculation, The Howard Hughes Corporation ® (NYSE: HHC) today confirmed that its Board of Directors is conducting a broad review of potential strategic alternatives to maximize shareholder value. The Board i...

In case you are interested https://marketwirenews.com/news-releases/the-howard-hughes-corporation-xae-announces-review-of-strategic-8425528.html

outlets at new orleans' riverwalk set to open:

http://finance.yahoo.com/news/howard-hughes-corporation-open-outlet-110000684.html

letter to shareholders:

http://online.wsj.com/article/PR-CO-20140313-905880.html

new leasing executives hired:

http://finance.yahoo.com/news/howard-hughes-corporation-expands-retail-120000652.html

4th qtr and full year results:

http://www.sec.gov/Archives/edgar/data/1498828/000110465914014217/a14-6941_1ex99d1.htm

hhc to construct luxury hotel at the woodlands:

http://www.thewoodlandscvb.com/pages/HelpCenter/NewsRoom/tabid/88/EntryID/809/Default.aspx

favorable preliminary tax ruling at summerlin:

http://www.lasvegassun.com/news/2014/feb/21/ruling-favors-hughes-corp-summerlin-land-valuation/

ward's village high rise design inspired by ocean:

http://www.hawaiibusiness.com/Hawaii-Business/February-2014/High-Rises-Design-Inspired-by-the-Ocean/

new tenants coming to summerlin

http://finance.yahoo.com/news/howard-hughes-corporation-announces-fashion-120000262.html

hhc establishes ward village foundation

http://finance.yahoo.com/news/howard-hughes-corporation-establishes-ward-120000936.html

harbor conference presentation:

http://www.sec.gov/Archives/edgar/data/1498828/000110465913010044/a13-5067_1ex99d1.htm

ala moana condo project sold out:

http://www.bizjournals.com/pacific/news/2013/03/05/howard-hughes-corp-expects-to-make.html?ana=yfcpc

hhc receives approval for the redevelopment of south street seaport:

http://finance.yahoo.com/news/howard-hughes-corporation-receives-approval-110000784.html