Added to YB: 2025-05-20
Pitch date: 2025-05-17
HHH [neutral]
Howard Hughes Holdings Inc.
+20.81%
current return
Author Info
Company Info
Howard Hughes Holdings Inc., together with its subsidiaries, develops and operates master planned communities (MPCs) in the United States.
Market Cap
$4.5B
Pitch Price
$70.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.64
P/E
15.02
EV/Sales
4.71
Sector
Real Estate Management and Development
Category
special_situation
Howard Hughes and Pershing Square — A New Chapter
HHH (update): Pershing Square invested $900M at $100/share (48% premium), increasing ownership to 46.9%. Ackman returns as Executive Chairman with capped voting power (40%). Fee structure: $15M annually + 1.5% on price increases above $66.14. Pivoting to Berkshire-like model with insurance ambitions. Concerns: inflation-linked fee hurdle too low, unproven PE edge. Still undervalued real estate.
Read full article (4 min)