Howard Hughes Holdings Inc. · REIT (real estate trust)

HHH

Moderate riskNext report: Around Nov 9 (est.)

View price ↗

The short version

A profitable company with shrinking sales. Institutions are adding.

Going well

Profitable
Brings in more cash than it spends

Watch out for

Revenue down 15.8% from the year before

Money moves

No insider buying or selling in the last 30 days
Institutions added 58% to their holdings in the quarter ending June 2026 (166 bought, 138 sold)
Held by Bill Ackman (Pershing Square)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$73.33+4.4% that day

Company value: $4.4B; Share price times all shares
Price vs profit (P/E): 15.0x; You pay about $15 for each $1 of yearly profit
Price vs sales: 1.8x; Company value is 1.8 times a year of sales
Cash vs value: 60%; A big cushion: cash is a large part of what the company is worth
Debt vs value: 117%; Owes more than the whole company is worth

From HHH's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$1.1B+330% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $2.4B, up 34% from the 12 months before.

What the price assumes

Your guesses, our math

Move the sliders to your own view of HHH. Starting points are the company's recent numbers.

Sales growth+30% a yearRecently: +34% a yearProfit margin12%Last 12 months: 12.3%P/E at the end15xToday: 15.0x. Many steady companies trade at 12x to 25xShare count change+4% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$8.8B

Profit in 5 years$1.1B

Price these guesses point to$218.26+198% vs $73.33 todayAbout +24% a year, before dividends

What today's price needs: with a 12% margin and a 15x P/E, sales would have to grow about 4.5% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

1/6Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.3.8%
MissDebt under half of equityNot relying on borrowed money.1.35x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.8.4%
MissProfitable every yearSteady profits, not one good year.4 of 5 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$462.4M
MissShare count not growingNot diluting owners. Falling means buybacks.+10.9% in 3 years

Revenue: $1.5B; -15.8% vs prior year
Total debt: $5.1B; 1.35x equity
Free cash flow: $462.4M; 31.3% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 5

Revenue: $1.1B; +330.2% YoY
EPS: $2.68; vs -$0.22
Op. margin: 21.3%; -4.7 pts
Free cash flow: $506.5M
Share count: +6.9%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

45/ 100

This week: 1
Normal week: 1.3
vs normal: 0.8x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+57.6%

Institutions added 57.6% to their holdings. 166 bought, 138 sold. 3 quarters of net buying in a row.

Shares held by institutions54.1M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+6.6%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

1.3x · $5.1B debt

Shares outstandingLatest reported

60M

Why moderate risk

Share count growing 6.6% a year
Revenue down 15.8% from the year before
1 offering filing in 6 months (may sell new shares)

Earnings reports

Last 12

Next reportAround Nov 9 (est.)Estimated from the same quarter last year

Results filedAug 5
Results filedMay 7
Results filedFeb 19
Results filedNov 10, 2025
Results filedAug 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Jul 31 · View filing ↗Big holder Major agreementJun 5 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Leadership changeOct 23 · Form 8-K ↗Shareholder vote resultsOct 1 · Form 8-K ↗DEFA14ASep 25 · Form DEFA14A ↗

BoughtAndrew D. DavisChief Operating Officer, HHC

1,000 shares at $64.49 · $64K

+3% of holdings
Now owns 32,530 shares
Filed 1 day after trade

Sep 23Form 4 ↗

BoughtMarc GrandissonExecutive Chairman, Vantage, Director

25,000 shares at $64.12 · $1.6M

+35% of holdings
Now owns 96,943 shares
Filed 1 day after trade

Sep 23Form 4 ↗

Planned insider saleSep 22 · Form 144 ↗ARSAug 20 · Form ARS ↗Proxy statementAug 19 · Form DEF 14A ↗Planned insider saleAug 17 · Form 144 ↗Shelf offering registrationAug 14 · Form S-3ASR ↗

SoldMary Ann TigheDirector

13,495 shares at $67.25 · $908K

-100% of holdings
Owns no shares after
Not a pre-planned sale
Held See Footnote
Filed 2 days after trade

Aug 11Form 4 ↗

Other company newsAug 11 · Form 8-K/A ↗Planned insider saleAug 11 · Form 144 ↗40-APPAug 10 · Form 40-APP ↗Earnings resultsAug 5 · Form 8-K ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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