Howard Hughes (HHH)

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Wall Street Analysts Predict a 34.39% Upside in Howard Hughes Holdings (HHH): Here's What You Should Know
ZACKS· 2025-05-05 15:01
Howard Hughes Holdings (HHH) closed the last trading session at $67.47, gaining 0.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $90.67 indicates a 34.4% upside potential.The average comprises three short-term price targets ranging from a low of $82 to a high of $105, with a standard deviation of $12.50. While the lowest estimate indicates an increase of 21.5% from the current ...
Bill Ackman's Pershing Square strikes $900 million deal for more control of Howard Hughes
CNBC· 2025-05-05 11:42
Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023.Bill Ackman's Pershing Square has agreed to invest $900 million in real estate company Howard Hughes, the companies announced Monday, as the billionaire hedge fund manager looks to follow in the footsteps of Warren Buffett.The deal involves Pershing Square buying 9 million newly issued shares of Howard Hughes for a total cost of $900 million. The purchase price is 48% above whe ...
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
Globenewswire· 2025-05-05 11:00
Core Viewpoint - Pershing Square is investing $900 million in Howard Hughes Holdings Inc. (HHH) to support its strategic expansion into a diversified holding company, acquiring controlling interests in high-quality public and private companies while continuing its core real estate development business [2][9]. Investment Details - Pershing Square will acquire 9,000,000 newly issued shares of HHH at $100.00 per share, representing a 48% premium to HHH's closing price on May 2, 2025 [3][9]. - Following the investment, Pershing Square will own 46.9% of HHH shares outstanding, with an agreement to limit its voting power to 40% and beneficial ownership to 47% [3][6]. Leadership Changes - Bill Ackman, Chairman and CEO of Pershing Square, has been appointed as the Executive Chairman of HHH's Board of Directors, while Ryan Israel will take on the role of Chief Investment Officer at HHH [4][9]. - The existing leadership team at HHH, led by CEO David O'Reilly, will remain unchanged but will have expanded roles and responsibilities [4][11]. Strategic Support - The entire Pershing Square organization will provide HHH with investment, advisory, and ancillary services, including corporate development and capital markets assistance [5][9]. - HHH will continue to develop its core Master Planned Communities and other strategic developments, maintaining its position as a leading community builder [10][11]. Financial Arrangements - HHH will pay Pershing Square a quarterly base fee of $3.75 million and a management fee based on the increase in HHH's equity market capitalization above a predetermined reference market cap [7][8]. - The reference market cap is calculated using a post-transaction share count of 59,393,938 and a reference market price of $66.1453, adjusted annually for inflation [7]. Governance Structure - The transaction was approved by HHH's Special Committee, composed entirely of independent directors, and will result in a board with a majority of independent directors [12][13]. - Pershing Square has the right to nominate three directors as long as it holds at least 17.5% of HHH's fully diluted shares [13].
Howard Hughes Extends Standstill Agreement with Pershing Square to May 30, 2025
Globenewswire· 2025-04-30 12:30
THE WOODLANDS, Texas, April 30, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) today further extended its previously announced standstill agreement with Pershing Square Capital Management L.P. (“Pershing Square”). The standstill agreement will now remain in effect until May 30, 2025, unless further extended. There can be no assurance that discussions with Pershing Square will result in any particular outcome, and HHH does not intend to comment further on these matt ...
Howard Hughes Extends Standstill Agreement with Pershing Square to April 30, 2025
Globenewswire· 2025-04-14 20:05
THE WOODLANDS, Texas, April 14, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) today further extended its previously announced standstill agreement with Pershing Square Capital Management L.P. (“Pershing Square”). The standstill agreement will now remain in effect until April 30, 2025, unless further extended. There can be no assurance that discussions with Pershing Square will result in any particular outcome, and HHH does not intend to comment further on these ma ...
Howard Hughes Holdings Inc. Announces Dates and Times for 2025 First Quarter Earnings Release and Conference Call
Globenewswire· 2025-04-09 11:17
HHH to Host Earnings Call on May 8, 2025THE WOODLANDS, Texas, April 09, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (“the Company” or “Howard Hughes”) announced today that the Company will release 2025 first quarter earnings on Wednesday, May 7, 2025, after the market closes and will hold its first quarter conference call on Thursday, May 8, 2025, at 10:00 AM Eastern Time. The Company's earnings release will be posted to the Investors section of the Company's website prior to the confer ...
Howard Hughes Extends Standstill Agreement with Pershing Square to April 15, 2025
Newsfilter· 2025-04-07 12:30
THE WOODLANDS, Texas, April 07, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company" or "HHH") today further extended its previously announced standstill agreement with Pershing Square Capital Management L.P. ("Pershing Square"). The standstill agreement will now remain in effect until April 15, 2025, unless further extended. There can be no assurance that discussions with Pershing Square will result in any particular outcome, and HHH does not intend to comment further on these mat ...
Howard Hughes Extends Standstill Agreement with Pershing Square
Globenewswire· 2025-03-12 20:05
THE WOODLANDS, Texas, March 12, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) today announced an extension to the previously announced standstill agreement with Pershing Square Capital Management L.P. (“Pershing Square”). The standstill agreement will now remain in effect until April 7, 2025, unless further extended. There can be no assurance that discussions with Pershing Square will result in any particular outcome, and HHH does not intend to comment further on ...
Bill Ackman's Modern-Day Berkshire Hathaway: Is It Going to Happen?
The Motley Fool· 2025-03-07 12:12
Howard Hughes Holdings just rejected Bill Ackman's offer, but that doesn't mean it's over.Billionaire investor Bill Ackman has ambitious plans to transform Howard Hughes Holdings (HHH -3.49%) into the next Berkshire Hathaway (BRK.A 0.02%) (BRK.B -0.13%). In this video, I'll discuss the latest developments with the potential deal, the current state of Howard Hughes' business, and why the company might think Ackman's offer is inadequate.*Stock prices used were the morning prices of March 6, 2025. The video wa ...
Howard Hughes Special Committee Provides Update on Engagement with Pershing Square
Newsfilter· 2025-03-03 13:30
Core Viewpoint - Howard Hughes Holdings Inc. announced that its Special Committee rejected the Revised Proposal from Pershing Square Capital Management and entered into a standstill agreement to facilitate further discussions [1][2]. Company Overview - Howard Hughes Holdings Inc. owns, manages, and develops commercial, residential, and mixed-use real estate across the U.S. The company has a portfolio that includes master planned communities and various operating properties [4]. Recent Developments - The Special Committee of Howard Hughes Holdings Inc. indicated that the Revised Proposal received on February 13, 2025, is not acceptable in its current form [1]. - A standstill agreement has been established with Pershing Square, which will remain effective until March 13, 2025, unless extended [1]. - Morgan Stanley & Co. LLC is serving as the financial advisor to the Special Committee, while Hogan Lovells US LLP and Richards, Layton & Finger, P.A. are providing legal counsel [3].