Howard Hughes Holdings (HHH) Stock Overview
Develops master planned communities (MPCs) in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 3/6 |
| Past Performance | 2/6 |
| Financial Health | 1/6 |
| Dividends | 0/6 |
HHH Community Fair Values
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Analyst Price Targets
Howard Hughes Holdings Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$67.68 |
| 52 Week High | US$91.07 |
| 52 Week Low | US$61.01 |
| Beta | 1.15 |
| 1 Month Change | 2.90% |
| 3 Month Change | 6.63% |
| 1 Year Change | -4.15% |
| 3 Year Change | -11.39% |
| 5 Year Change | -34.32% |
| Change since IPO | 78.11% |
Recent News & Updates
Recent updates
Narrative Update • Jun 05
HHH: Honolulu Openings And Warrant Structure Will Support Future Margin Compounding
Analysts now place Howard Hughes Holdings' fair value at $90.33, down from $94.67. This reflects updated views on revenue growth, profit margins, and future P/E assumptions.Seeking Alpha • May 09
Howard Hughes Holdings: Bill Ackman's Plan For $200 By 2030
Summary Howard Hughes Holdings rolled out a new set of metrics to more accurately value the real estate business. This framework, when adding in the new Vantage insurance business, estimates HHH's current value at $104/share and projects $211/share by 2030. Even without Vantage, HHH looks like a bargain considering the value of unsold land in the Master Planned Communities, along with income from condo sales and leasing activities. With successful underwriting and investments more geared toward equities, Vantage can become the growth engine for HHH by 2030, supporting a 23% CAGR for the stock. Read the full article on Seeking AlphaNarrative Update • Apr 22
HHH: Warrant Deal And Buybacks Will Support Future Margin Compounding
Analysts have reaffirmed their $94.67 price target for Howard Hughes Holdings, citing slight adjustments in projected revenue trends, a modestly higher profit margin of about 28.16%, and a small change in the assumed future P/E of roughly 23.30x as key inputs behind the updated view. What's in the News Entered into a warrant agreement to issue 1,131,273 pre paid warrants at an issue price of $8.8396 each, raising gross proceeds of $10,000,000 in a non brokered private placement on April 20, 2026 (Key Developments).Narrative Update • Apr 08
HHH: Stable Margins And Completed Buybacks Will Support Future Compounding
Analysts have kept their price target for Howard Hughes Holdings steady at $94.67, citing unchanged assumptions for discount rate, revenue growth, profit margin, and future P/E as the key reasons for maintaining their view. What's in the News Howard Hughes Holdings reported that from October 1, 2025 to December 31, 2025, it repurchased 0 shares for $0 million under its existing buyback program (Key Developments).Narrative Update • Mar 24
HHH: Higher Margins And Stable Buybacks Will Support Future Compounding
Analysts now maintain their price target for Howard Hughes Holdings at about $95 per share. The updated view reflects small adjustments to inputs such as the discount rate and assumed future P/E, rather than any change in their overall outlook.Narrative Update • Mar 09
HHH: Higher Margin Outlook And Slightly Lower Future P/E Will Support Compounding
Analysts have reduced their price target on Howard Hughes Holdings by about $2, bringing it to $94.67. This change reflects a slightly higher discount rate and a modestly lower assumed future P/E multiple in their updated models.Narrative Update • Feb 22
HHH: Higher Margin Outlook And Reduced Future P/E Will Support Long-Term Compounding
Analysts have adjusted their price target for Howard Hughes Holdings to $96.33, reflecting updated views on discount rates, revenue trends and profit margins, while assuming a future P/E of 23.52x. Valuation Changes Fair Value: Model fair value remains unchanged at $96.33 per share.Narrative Update • Feb 08
HHH: Teravalis Expansion And Higher Future P/E Will Support Long-Term Compounding
Analysts have modestly raised their price target on Howard Hughes Holdings to US$96.33, citing updated assumptions that include a slightly lower discount rate, softer revenue growth and profit margin expectations, and a higher future P/E multiple. What's in the News Howard Hughes Communities celebrated the grand opening of Teravalis on November 14, a 37,000 acre master planned community in the Phoenix West Valley that spans more than 50 square miles and is planned for 100,000 homes, 300,000 residents, 55 million square feet of commercial space, and over 7,000 acres of preserved open space (Key Developments).Narrative Update • Jan 25
HHH: Teravalis Buildout Will Drive Future Compounding Potential
Analysts have kept their fair value estimate for Howard Hughes Holdings steady at about US$96.33 per share, citing only very small tweaks to the discount rate and future P/E assumptions rather than any major shift in their view of the business. What's in the News Howard Hughes Communities held the grand opening of Teravalis on November 14, a 37,000 acre, master planned community in the Phoenix West Valley and City of Buckeye, described as one of the largest such developments in the United States (Key Developments).Narrative Update • Jan 10
HHH: Master Planned Community Expansion Will Drive Future Compounding Outlook
Analysts have trimmed their price target for Howard Hughes Holdings to about US$96 from roughly US$98, pointing to a mix of softer revenue assumptions, a higher discount rate, and stronger long term margin expectations reflected in a higher future P/E multiple. What's in the News Howard Hughes Communities held the grand opening of Teravalis on November 14 in the Phoenix West Valley, a 37,000 acre master planned community positioned between the White Tank and Belmont mountain ranges (Key Developments).Narrative Update • Dec 14
HHH: Insurance Platform Pursuit Will Drive Berkshire Style Compounding Outlook
Analysts have raised their price target on Howard Hughes Holdings by $10 to $95, citing the potential addition of an insurance company as a key step toward transforming the business model into a Berkshire Hathaway–like compounder. Analyst Commentary Bullish analysts view the higher price target as a reflection of increasing confidence in Howard Hughes Holdings' ability to evolve into a diversified holding company with more durable, recurring earnings streams.Narrative Update • Nov 28
HHH: Insurance Acquisition Efforts Will Shape Measured Long-Term Outlook
Howard Hughes Holdings saw its analyst price target increase by $10 to $95, as analysts cite potential transformative growth stemming from the company's strategic pursuit of an insurance acquisition. Analyst Commentary Bullish analysts have raised their price targets, reflecting increased confidence in Howard Hughes Holdings' growth trajectory following recent strategic developments.Narrative Update • Nov 14
HHH: Adding Insurance Acquisition Will Drive Future Performance Upside
Howard Hughes Holdings received an updated analyst price target of $97.75, up from $88.75. Analysts cite strategic moves such as the potential acquisition of an insurance company and an improved revenue growth outlook as key drivers for the upward revision.Narrative Update • Oct 31
HHH: Future Insurance Acquisition Will Unlock Lasting Conglomerate Value
Howard Hughes Holdings' analyst price target has increased from $85 to $88.75, as analysts point to continued operational strength and potential strategic developments for the company. Analyst Commentary Analysts have provided updated perspectives on Howard Hughes Holdings, highlighting both positive drivers and ongoing concerns following recent company developments and revised price targets.Narrative Update • Oct 17
Sunbelt Migration And Quality Land Will Unlock Lasting Value
Analysts have raised their price target for Howard Hughes Holdings from $85 to $95, citing the company's potential insurance acquisition and improved performance in its core real estate businesses as key drivers for the increase. Analyst Commentary Recent price target increases reflect renewed analyst attention on Howard Hughes Holdings, with notable optimism stemming from expansion efforts and improved operational results.Narrative Update • Oct 03
Sunbelt Migration And Quality Land Will Unlock Lasting Value
Howard Hughes Holdings saw its analyst price target rise from $85 to $95, as analysts cited stronger-than-expected earnings and optimism around the company’s pursuit of an insurance acquisition as key drivers behind the upward revision. Analyst Commentary Analyst sentiment on Howard Hughes Holdings has shifted in response to recent company updates and financial performance.Analysis Article • Sep 24
We Take A Look At Whether Howard Hughes Holdings Inc.'s (NYSE:HHH) CEO May Be Underpaid
Key Insights Howard Hughes Holdings will host its Annual General Meeting on 30th of September Total pay for CEO David...Narrative Update • Aug 29
Sunbelt Migration And Quality Land Will Unlock Lasting Value
The upward revision in Howard Hughes Holdings’ price target reflects significantly improved revenue growth forecasts despite a slight decline in net profit margin, resulting in the consensus analyst price target rising to $82.50. Valuation Changes Summary of Valuation Changes for Howard Hughes Holdings The Consensus Analyst Price Target has risen slightly from $80.25 to $82.50.Analysis Article • Aug 14
Impressive Earnings May Not Tell The Whole Story For Howard Hughes Holdings (NYSE:HHH)
Howard Hughes Holdings Inc. ( NYSE:HHH ) announced strong profits, but the stock was stagnant. Our analysis suggests...Analysis Article • Aug 06
At US$69.18, Is It Time To Put Howard Hughes Holdings Inc. (NYSE:HHH) On Your Watch List?
NYSE:HHH 1 Year Share Price vs Fair Value Explore Howard Hughes Holdings's Fair Values from the Community and select...
New Narrative • May 03
Texas And Hawaii Condo Pre-Sales Will Fuel Future Development
Strong demand for new home construction and condo pre-sales is expected to boost revenue from land and condo sales significantly.Seeking Alpha • Mar 05
Decoding Ackman's $900 Million Proposal For Howard Hughes
Summary Bill Ackman’s bid for Howard Hughes is ambitious but faces challenges due to Pershing Square's limited operational experience and the bid's current form being insufficient. Pershing Square aims to convert Howard Hughes into a diversified holding company, similar to Berkshire, but with a controversial 1.5% management fee structure. The deal mechanics involve a $900 million investment to increase Pershing’s ownership stake from 37.6% to 48%, but the bid may need revision. The stock's valuation is estimated between $80 to $90 per share, with limited near-term upside and potential risks if the deal fails. Read the full article on Seeking AlphaSeeking Alpha • Feb 21
Howard Hughes Holdings: Pershing Takeover Should Be Transformative
Summary I initially rated Howard Hughes Holdings a Hold due to historical financial challenges, despite its sophisticated business model. Bill Ackman and Pershing Square plan to acquire 48% of HHH at $90 per share, aiming to transform it into a high-ROI diversified holding company. Ackman's proposal includes a $900M capital infusion, leveraging his position to assume executive leadership and restructure HHH for long-term value creation. This transformative plan aligns with my concerns about HHH's liquidity cycles, potentially redirecting cash flow to more profitable ventures, akin to Warren Buffett's approach with Berkshire Hathaway. Read the full article on Seeking AlphaAnalysis Article • Feb 19
Should You Investigate Howard Hughes Holdings Inc. (NYSE:HHH) At US$80.60?
While Howard Hughes Holdings Inc. ( NYSE:HHH ) might not have the largest market cap around , it saw a double-digit...Seeking Alpha • Jan 15
Howard Hughes: Pershing Square Ownership Doesn't Change My Thesis
Summary Howard Hughes has a diversified real estate portfolio but suffers from poor returns, high debt, and no dividends, making it an unfavorable investment. Pershing Square's potential majority stake could influence HHH's future, but risks remain, including using HHH as a cash cow and refinancing challenges. Despite some positive tailwinds, HHH's financials show limited upside, with high debt and negative forward potential in key performance indicators. I recommend a "HOLD" unless HHH's price drops to around $55/share, reflecting a significant discount to its estimated NAV. Read the full article on Seeking AlphaSeeking Alpha • Jan 07
Howard Hughes Holdings: Long Term Real Estate Development At A Huge Discount
Summary Bill Ackman’s Pershing Capital, owning 37.5% of the company, has expressed interest in purchasing the remaining stock of Howard Hughes Holdings with Ackman’s deep company knowledge and past board chairmanship. Howard Hughes Holdings raised 2024 guidance, expecting net operating income growth between 5%-8%, with a midpoint of 6.5% growth. The company focuses on master planned communities, having divested non-core assets like South Street Seaport and Las Vegas Aviators. The development strategy leverages residential and commercial land sales, enhancing community value and driving demand for remaining assets. Read the full article on Seeking AlphaAnalysis Article • Jan 03
An Intrinsic Calculation For Howard Hughes Holdings Inc. (NYSE:HHH) Suggests It's 37% Undervalued
Key Insights Using the 2 Stage Free Cash Flow to Equity, Howard Hughes Holdings fair value estimate is US$120 Howard...Analysis Article • Nov 06
Investor Optimism Abounds Howard Hughes Holdings Inc. (NYSE:HHH) But Growth Is Lacking
With a price-to-sales (or "P/S") ratio of 3.4x Howard Hughes Holdings Inc. ( NYSE:HHH ) may be sending bearish signals...Seeking Alpha • Oct 21
Howard Hughes Remains Tricky, And The Market Agrees
Summary Howard Hughes Holdings Inc. has underperformed, with a 9% drop since my initial “Hold” recommendation, missing out on the S&P 500's 32% gain. Despite impressive NOI and land appreciation, Howard Hughes' non-IG rating and sub-par EPS returns make it a “Hold” at the current price. The company's diversified real estate portfolio and strategic developments show potential, but lack of dividends and historical underperformance are concerns. I would consider buying HHH at a severe discount to NAV, around $50/share, but currently, it's a “Hold” due to valuation and risks. Read the full article on Seeking AlphaSeeking Alpha • Aug 23
Howard Hughes: A Pure-Play MPC With Decades-Long Growth Runway
Summary Howard Hughes demonstrates strong business momentum in land sales and stabilized income-producing assets, with record-high pricing for residential land. The successful spin-off of Seaport Entertainment Group highlights the company's focus on being a pure-play MPC company with potential for growth. Pershing Square funds, including PSH, retain shares of SEG and backstop a $175 million rights offering to support SEG's growth plan. Read the full article on Seeking AlphaSeeking Alpha • Aug 05
Howard Hughes Holdings: Not My Favorite From This Superinvestor
Summary Howard Hughes Holdings is a creation of Bill Ackman, with a 70% return since its spin-off from General Growth Properties in 2009. The company's business model focuses on real estate development, generating cash from land sales, condominium developments, and rental income. Despite a history of cyclicality, HHH shows some growth in revenue and faces upcoming debt refinancing, with potential for growth depending on local market trends. Read the full article on Seeking AlphaAnalysis Article • Jul 27
Is It Too Late To Consider Buying Howard Hughes Holdings Inc. (NYSE:HHH)?
Howard Hughes Holdings Inc. ( NYSE:HHH ), is not the largest company out there, but it saw a significant share price...Analysis Article • Jun 20
An Intrinsic Calculation For Howard Hughes Holdings Inc. (NYSE:HHH) Suggests It's 46% Undervalued
Key Insights Howard Hughes Holdings' estimated fair value is US$120 based on 2 Stage Free Cash Flow to Equity Howard...Analysis Article • Apr 30
Howard Hughes Holdings Inc.'s (NYSE:HHH) Popularity With Investors Is Clear
When close to half the companies in the Real Estate industry in the United States have price-to-sales ratios (or "P/S...Seeking Alpha • Mar 24
Pershing Square - Howard Hughes: Early Stages Of Decades-Long Value Creation Opportunity
Summary HHH delivered strong business performance in 2023. The surge in new home sales continues to be driven by a significant shortage of resale housing inventory. HHH is in the early stages of its decades-long value creation opportunity. Pershing Square purchased an additional 3 million shares of HHH in 2023 and now owns 38% of the company. Read the full article on Seeking AlphaAnalysis Article • Mar 15
Is There An Opportunity With Howard Hughes Holdings Inc.'s (NYSE:HHH) 47% Undervaluation?
Key Insights Howard Hughes Holdings' estimated fair value is US$138 based on 2 Stage Free Cash Flow to Equity Howard...Seeking Alpha • Jan 20
Seaport Spin-Off To Unlock Value For Howard Hughes Holdings, Inc.
Summary Over the past decade, Howard Hughes' stock price has performed poorly, notwithstanding its high quality real estate assets, including master planned communities. The company's assets have not gone unnoticed as Bill Ackman's Pershing Square has acquired more than 37% of the Company, and Mr. Ackman is Chairman of the Board. Incentivized management, and the spin-off of the company's Seaport Entertainment division in 2024, should help the company unlock the value of its asset for the benefit of shareholders. Read the full article on Seeking AlphaShareholder Returns
| HHH | US Real Estate | US Market | |
|---|---|---|---|
| 7D | 7.2% | -0.2% | -3.3% |
| 1Y | -4.1% | -14.1% | 22.3% |
Return vs Industry: HHH exceeded the US Real Estate industry which returned -13.7% over the past year.
Return vs Market: HHH underperformed the US Market which returned 22.5% over the past year.
Price Volatility
| HHH volatility | |
|---|---|
| HHH Average Weekly Movement | 4.0% |
| Real Estate Industry Average Movement | 7.5% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.6% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: HHH has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: HHH's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2010 | 500 | David O'Reilly | www.howardhughes.com |
Howard Hughes Holdings Inc., together with its subsidiaries, develops master planned communities (MPCs) in the United States. It operates through three segments: Operating Assets, MPC, and Strategic Developments. The Operating Assets segment acquires or develops retail, office, and multifamily properties, as well as invests in other real estate properties.
Howard Hughes Holdings Inc. Fundamentals Summary
| HHH fundamental statistics | |
|---|---|
| Market cap | US$3.84b |
| Earnings (TTM) | US$121.59m |
| Revenue (TTM) | US$1.51b |
32.9x
P/E Ratio2.6x
P/S RatioIs HHH overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| HHH income statement (TTM) | |
|---|---|
| Revenue | US$1.51b |
| Cost of Revenue | US$786.23m |
| Gross Profit | US$725.26m |
| Other Expenses | US$603.67m |
| Earnings | US$121.59m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.06 |
| Gross Margin | 47.98% |
| Net Profit Margin | 8.04% |
| Debt/Equity Ratio | 150.5% |
How did HHH perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/09 10:14 |
| End of Day Share Price | 2026/06/09 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Howard Hughes Holdings Inc. is covered by 10 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Juan Sanabria | BMO Capital Markets Equity Research |
| John Kim | BMO Capital Markets Equity Research |
| Hamed Khorsand | BWS Financial Inc. |