Loading...

Howard Hughes

NYSE:HHC
Snowflake Description

Poor track record with worrying balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HHC
NYSE
$5B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. The last earnings update was 10 days ago. More info.


Add to Portfolio Compare Print
HHC Share Price and Events
7 Day Returns
0.6%
NYSE:HHC
-5.8%
US Real Estate
-3.9%
US Market
1 Year Returns
-16.4%
NYSE:HHC
-14.8%
US Real Estate
1.4%
US Market
HHC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Howard Hughes (HHC) 0.6% -3.3% -5.5% -16.4% 4.8% -27.2%
US Real Estate -5.8% -8.3% -7.1% -14.8% 21.3% 4.4%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • HHC underperformed the Real Estate industry which returned -14.8% over the past year.
  • HHC underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
HHC
Industry
5yr Volatility vs Market

HHC Value

 Is Howard Hughes undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Howard Hughes to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Howard Hughes.

NYSE:HHC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:HHC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.124 (1 + (1- 21%) (71.45%))
1.508
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.51
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.508 * 5.96%)
11.72%

Discounted Cash Flow Calculation for NYSE:HHC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Howard Hughes is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:HHC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.72%)
2019 302.21 Analyst x1 270.50
2020 215.29 Analyst x1 172.49
2021 377.14 Analyst x1 270.46
2022 398.82 Analyst x1 256.01
2023 421.75 Analyst x1 242.33
2024 441.71 Est @ 4.73% 227.18
2025 459.97 Est @ 4.13% 211.75
2026 477.04 Est @ 3.71% 196.57
2027 493.35 Est @ 3.42% 181.96
2028 509.19 Est @ 3.21% 168.11
Present value of next 10 years cash flows $2,197.37
NYSE:HHC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $509.19 × (1 + 2.73%) ÷ (11.72% – 2.73%)
$5,818.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $5,818.82 ÷ (1 + 11.72%)10
$1,921.06
NYSE:HHC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,197.37 + $1,921.06
$4,118.43
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,118.43 / 43.14
$95.47
NYSE:HHC Discount to Share Price
Calculation Result
Value per share (USD) From above. $95.47
Current discount Discount to share price of $108.29
= -1 x ($108.29 - $95.47) / $95.47
-13.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Howard Hughes is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Howard Hughes's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Howard Hughes's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:HHC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.03
NYSE:HHC Share Price ** NYSE (2019-05-15) in USD $108.29
United States of America Real Estate Industry PE Ratio Median Figure of 27 Publicly-Listed Real Estate Companies 16x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Howard Hughes.

NYSE:HHC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:HHC Share Price ÷ EPS (both in USD)

= 108.29 ÷ 2.03

53.39x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Howard Hughes is overvalued based on earnings compared to the US Real Estate industry average.
  • Howard Hughes is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Howard Hughes's expected growth come at a high price?
Raw Data
NYSE:HHC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 53.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-11.5%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.34x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NYSE:HHC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 53.39x ÷ -11.5%

-4.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Howard Hughes earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Howard Hughes's assets?
Raw Data
NYSE:HHC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $74.22
NYSE:HHC Share Price * NYSE (2019-05-15) in USD $108.29
United States of America Real Estate Industry PB Ratio Median Figure of 53 Publicly-Listed Real Estate Companies 1.45x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:HHC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:HHC Share Price ÷ Book Value per Share (both in USD)

= 108.29 ÷ 74.22

1.46x

* Primary Listing of Howard Hughes.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Howard Hughes is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Howard Hughes's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Howard Hughes has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HHC Future Performance

 How is Howard Hughes expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-11.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Howard Hughes expected to grow at an attractive rate?
  • Howard Hughes's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Howard Hughes's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Howard Hughes's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:HHC Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:HHC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -11.5%
NYSE:HHC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -4.3%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 6.3%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 7.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:HHC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:HHC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 1,209 160 98 2
2019-12-31 1,339 522 147 3
NYSE:HHC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,257 237 87
2018-12-31 1,065 211 57
2018-09-30 901 204 169
2018-06-30 902 354 156
2018-03-31 1,030 177 164
2017-12-31 1,100 166 168
2017-09-30 1,078 253 63
2017-06-30 1,061 49 60
2017-03-31 1,026 4 64
2016-12-31 1,035 239 202
2016-09-30 986 -227 185
2016-06-30 947 -112 333

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Howard Hughes's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Howard Hughes's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:HHC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Howard Hughes Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HHC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 4.86 4.86 4.86 1.00
2020-12-31 2.65 4.56 1.31 3.00
2019-12-31 3.42 3.94 2.98 4.00
NYSE:HHC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.03
2018-12-31 1.32
2018-09-30 3.93
2018-06-30 3.64
2018-03-31 3.90
2017-12-31 4.07
2017-09-30 1.55
2017-06-30 1.52
2017-03-31 1.62
2016-12-31 5.12
2016-09-30 4.67
2016-06-30 8.43

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Howard Hughes will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Howard Hughes's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Howard Hughes has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HHC Past Performance

  How has Howard Hughes performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Howard Hughes's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Howard Hughes has delivered over 20% year on year earnings growth in the past 5 years.
  • Howard Hughes's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Howard Hughes's 1-year earnings growth is negative, it can't be compared to the US Real Estate industry average.
Earnings and Revenue History
Howard Hughes's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Howard Hughes Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HHC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,256.75 87.36 139.87
2018-12-31 1,064.54 57.01 139.95
2018-09-30 900.83 168.87 129.85
2018-06-30 902.40 156.01 128.39
2018-03-31 1,030.04 164.22 121.36
2017-12-31 1,100.12 168.40 113.10
2017-09-30 1,077.68 62.88 112.65
2017-06-30 1,061.21 60.35 111.76
2017-03-31 1,026.09 64.20 109.40
2016-12-31 1,035.01 202.30 114.44
2016-09-30 985.85 184.59 112.91
2016-06-30 947.03 332.84 112.30
2016-03-31 882.68 376.44 112.72
2015-12-31 797.09 126.72 110.84
2015-09-30 774.75 132.77 112.07
2015-06-30 690.53 22.16 106.16
2015-03-31 691.00 -43.17 102.52
2014-12-31 634.57 -23.53 97.76
2014-09-30 561.47 -36.91 83.53
2014-06-30 541.85 -75.19 75.44
2014-03-31 477.98 -136.98 64.83
2013-12-31 469.42 -73.79 55.18
2013-09-30 443.83 -93.27 46.46
2013-06-30 439.04 -150.02 44.99
2013-03-31 387.21 -39.15 40.97
2012-12-31 376.89 -128.29 37.77
2012-09-30 353.61 -95.93 39.08
2012-06-30 345.47 117.77 35.91

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Howard Hughes has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Howard Hughes used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Howard Hughes's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Howard Hughes's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Howard Hughes has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HHC Health

 How is Howard Hughes's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Howard Hughes's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Howard Hughes is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Howard Hughes's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Howard Hughes's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Howard Hughes Company Filings, last reported 1 month ago.

NYSE:HHC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,307.47 3,338.03 452.91
2018-12-31 3,238.13 3,197.73 500.02
2018-09-30 3,181.03 3,262.96 455.37
2018-06-30 3,150.61 3,138.47 613.98
2018-03-31 3,079.36 2,895.77 641.85
2017-12-31 3,188.55 2,863.91 865.53
2017-09-30 3,030.38 3,001.19 605.18
2017-06-30 2,967.49 3,006.70 660.09
2017-03-31 2,617.31 2,749.71 541.51
2016-12-31 2,571.51 2,690.60 665.51
2016-09-30 2,513.89 2,874.80 653.04
2016-06-30 2,503.19 2,679.53 670.80
2016-03-31 2,500.46 2,562.85 736.83
2015-12-31 2,363.89 2,448.18 445.30
2015-09-30 2,335.53 2,325.95 450.65
2015-06-30 2,177.01 2,289.17 488.63
2015-03-31 2,123.73 2,126.92 458.37
2014-12-31 2,227.51 1,981.95 560.45
2014-09-30 2,196.17 1,884.11 805.61
2014-06-30 2,147.83 1,643.21 739.57
2014-03-31 2,160.65 1,563.34 827.09
2013-12-31 2,245.15 1,518.79 894.95
2013-09-30 2,225.58 770.68 210.76
2013-06-30 2,217.32 719.81 213.20
2013-03-31 2,292.72 703.45 200.54
2012-12-31 2,311.00 695.50 229.20
2012-09-30 2,202.01 691.53 272.85
2012-06-30 2,252.41 666.09 254.29
  • Howard Hughes's level of debt (100.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (72.4% vs 100.9% today).
  • Debt is not well covered by operating cash flow (7.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Howard Hughes's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Howard Hughes has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HHC Dividends

 What is Howard Hughes's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Howard Hughes dividends. Estimated to be 0% next year.
If you bought $2,000 of Howard Hughes shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Howard Hughes's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Howard Hughes's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:HHC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:HHC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Howard Hughes has not reported any payouts.
  • Unable to verify if Howard Hughes's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Howard Hughes's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Howard Hughes has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Howard Hughes's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Howard Hughes's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Howard Hughes afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Howard Hughes has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HHC Management

 What is the CEO of Howard Hughes's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Weinreb
COMPENSATION $7,343,109
AGE 53
TENURE AS CEO 8.5 years
CEO Bio

Mr. David R. Weinreb has been the Chief Executive Officer of The Howard Hughes Corporation since November 22, 2010. Mr. Weinreb has directed Howard Hughes’s efforts since its emergence in 2010, building a portfolio of some of the most sought-after real estate in the country. He served as the Chairman and Chief Executive Officer at TPMC Realty Corporation for 17 years. He was the Managing General Partner and a Limited Partner, in numerous single-asset entities. He began his real estate career in the late 1970s in New York City. Mr. Weinreb has been a Director at The Howard Hughes Corporation since November 22, 2010. He is a member of the International Council of Shopping Centers and the Urban Land Institute. He also serves on the Advisory Council of the Lusk Center for Real Estate at the University of Southern California. He has served on a number of boards, including an appointment by the former mayor of Dallas to the 'Inside the Loop Committee'. His vision, leadership and financial acumen led him to be named to 2012’s Top 200 CEOs in the U.S. by ExecRank. Mr. Weinreb attended New York University.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year.
  • David's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Howard Hughes management team in years:

7.7
Average Tenure
53
Average Age
  • The average tenure for the Howard Hughes management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Weinreb

TITLE
CEO & Director
COMPENSATION
$7M
AGE
53
TENURE
8.5 yrs

Grant Herlitz

TITLE
President
COMPENSATION
$5M
AGE
46
TENURE
8.5 yrs

David O'Reilly

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
44
TENURE
2.6 yrs

Peter Riley

TITLE
Senior Executive VP
COMPENSATION
$2M
AGE
62
TENURE
8 yrs

Paul Layne

TITLE
President of Central Region
COMPENSATION
$6M
AGE
60
TENURE
7.1 yrs

Simon Treacy

TITLE
President of Hawaii
COMPENSATION
$6M
AGE
49

Sarah Vasquez

TITLE
Executive VP of Management & Operations
AGE
56

Carlos Olea

TITLE
Executive Vice President of Accounting
TENURE
0.7 yrs

Reuben Davidsohn

TITLE
Chief Administrative Officer
COMPENSATION
$2M
AGE
45
TENURE
7.3 yrs

David Striph

TITLE
Executive Vice President of Investor Relations
AGE
59
TENURE
8 yrs
Board of Directors Tenure

Average tenure and age of the Howard Hughes board of directors in years:

8.5
Average Tenure
60.5
Average Age
  • The tenure for the Howard Hughes board of directors is about average.
Board of Directors

Bill Ackman

TITLE
Chairman of the Board
AGE
52
TENURE
8.5 yrs

David Weinreb

TITLE
CEO & Director
COMPENSATION
$7M
AGE
53
TENURE
8.5 yrs

Allen Model

TITLE
Independent Director
COMPENSATION
$228K
AGE
72
TENURE
8.5 yrs

Jeff Furber

TITLE
Independent Director
COMPENSATION
$238K
AGE
59
TENURE
8.5 yrs

Steve Shepsman

TITLE
Independent Director
COMPENSATION
$281K
AGE
66
TENURE
8.5 yrs

R. Sellers

TITLE
Independent Director
COMPENSATION
$256K
AGE
61
TENURE
8.5 yrs

Adam Flatto

TITLE
Independent Director
COMPENSATION
$235K
AGE
55
TENURE
8.5 yrs

Burt Tansky

TITLE
Independent Director
COMPENSATION
$245K
AGE
80
TENURE
7.6 yrs

Mary Tighe

TITLE
Independent Director
COMPENSATION
$233K
AGE
70
TENURE
7.6 yrs

Beth Kaplan

TITLE
Independent Director
COMPENSATION
$214K
AGE
60
TENURE
1.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
07. Jan 19 Sell Kevin Orrock Individual 03. Jan 19 03. Jan 19 -771 $95.90 $-73,939
26. Dec 18 Buy Michael Slosser Individual 21. Dec 18 21. Dec 18 1,000 $92.90 $92,731
26. Dec 18 Buy Sarah Vasquez Individual 21. Dec 18 21. Dec 18 200 $91.80 $18,360
18. Dec 18 Buy Grant Herlitz Individual 17. Dec 18 17. Dec 18 5,091 $98.29 $500,394
18. Dec 18 Buy Simon Treacy Individual 17. Dec 18 17. Dec 18 2,070 $96.29 $199,320
29. Nov 18 Buy Jeffrey Furber Individual 28. Nov 18 28. Nov 18 1,000 $109.88 $109,880
16. Nov 18 Buy Allen Model Individual 15. Nov 18 15. Nov 18 1,000 $108.98 $108,980
13. Nov 18 Buy David Weinreb Individual 09. Nov 18 09. Nov 18 50,000 $109.39 $5,469,500
13. Nov 18 Sell Pershing Square Capital Management, L.P. Company 08. Nov 18 08. Nov 18 -899,647 $109.39 $-98,412,385
27. Sep 18 Sell Pershing Square Capital Management, L.P. Company 25. Sep 18 26. Sep 18 -5,953 $125.19 $-745,203
24. Sep 18 Sell Pershing Square Capital Management, L.P. Company 20. Sep 18 24. Sep 18 -51,660 $126.59 $-6,515,789
19. Sep 18 Sell Pershing Square Capital Management, L.P. Company 18. Sep 18 19. Sep 18 -13,685 $125.16 $-1,711,815
X
Management checks
We assess Howard Hughes's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Howard Hughes has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HHC News

Simply Wall St News

What Does The Howard Hughes Corporation's (NYSE:HHC) P/E Ratio Tell You?

We'll apply a basic P/E ratio analysis to The Howard Hughes Corporation's (NYSE:HHC), to help you decide if the stock is worth further research. … See our latest analysis for Howard Hughes How Do You Calculate A P/E Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Howard Hughes: P/E of 51.77 = $105.01 ÷ $2.03 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Who Has Been Buying The Howard Hughes Corporation (NYSE:HHC) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in The Howard Hughes Corporation (NYSE:HHC). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was happy to buy shares at around the current price of US$110

Simply Wall St -

Is The Howard Hughes Corporation's (NYSE:HHC) ROE Of 1.8% Concerning?

Our data shows Howard Hughes has a return on equity of 1.8% for the last year. … That means that for every $1 worth of shareholders' equity, it generated $0.018 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is The Howard Hughes Corporation's (NYSE:HHC) CEO Pay Justified?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does David Weinreb's Compensation Compare With Similar Sized Companies. … Our data indicates that The Howard Hughes Corporation is worth US$4.7b, and total annual CEO compensation is US$7.2m.

Simply Wall St -

What does The Howard Hughes Corporation's (NYSE:HHC) Balance Sheet Tell Us About Its Future?

Mid-caps stocks, like The Howard Hughes Corporation (NYSE:HHC) with a market capitalization of US$4.7b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Today we will look at HHC’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … See our latest analysis for Howard Hughes

Simply Wall St -

The Howard Hughes Share Price Is Up 25% And Shareholders Are Holding On

Unfortunately for shareholders, while the The Howard Hughes Corporation (NYSE:HHC) share price is up 25% in the last three years, that falls short of the market return. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)

Simply Wall St -

Why The Howard Hughes Corporation (NYSE:HHC) Could Be Worth Watching

The Howard Hughes Corporation (NYSE:HHC), which is in the real estate business, and is based in United States,. … As a US$4.8b market-cap stock, it seems odd Howard Hughes is not more well-covered by analysts. … Let’s examine Howard Hughes’s valuation and outlook in more detail to determine if there’s still a bargain opportunity.

Simply Wall St -

Is The Howard Hughes Corporation's (NYSE:HHC) High P/E Ratio A Problem For Investors?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Howard Hughes has a price to earnings ratio of 26.05, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

The Howard Hughes Corporation (NYSE:HHC) Investors Are Paying Above The Intrinsic Value

by taking the expected future cash flows and discounting them to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Could The The Howard Hughes Corporation (NYSE:HHC) Ownership Structure Tell Us Something Useful?

A look at the shareholders of The Howard Hughes Corporation (NYSE:HHC) can tell us which group is most powerful. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … See our latest analysis for Howard Hughes

Simply Wall St -

HHC Company Info

Description

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai‘i. The Master Planned Communities segment develops and sells residential and commercial land. This segment sells residential land designated for detached and attached single family homes ranging from entry-level to luxury homes; and commercial land parcels designated for retail, office, hospitality, and high density residential projects, as well as services and other for-profit activities, and parcels designated for use by government, schools, and other not-for-profit entities. As of December 31, 2018, this segment had 10,543 remaining saleable acres of land. The Strategic Development segment comprises residential condominium and commercial property projects. This segment consist of 29 development or redevelopment projects. The company was founded in 2010 and is headquartered in Dallas, Texas.

Details
Name: The Howard Hughes Corporation
HHC
Exchange: NYSE
Founded: 2010
$4,671,555,988
43,139,311
Website: http://www.howardhughes.com
Address: The Howard Hughes Corporation
13355 Noel Road,
22nd Floor,
Dallas,
Texas, 75240,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HHC Common Stock New York Stock Exchange US USD 05. Nov 2010
DB HHE Common Stock Deutsche Boerse AG DE EUR 05. Nov 2010
BMV HHC * Common Stock Bolsa Mexicana de Valores MX MXN 05. Nov 2010
Number of employees
Current staff
Staff numbers
1,400
Howard Hughes employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:17
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.