📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

Shareholding

About

Howard Hughes Holdings Inc., together with its subsidiaries, develops master planned communities (MPCs) in the United States.

Key Ratios Snapshot

📊 Sector Averages

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

⭐ Superinvestors Holding HHH

View All Superinvestors →

Manager	Shares	Value	% of Fund	Period
Bill Ackman Pershing Square Capital Management	18.85M	$1.2B	8.70%	Mar 2026
Jim Simons Renaissance Technologies LLC	100.7K	$6.4M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 4 quarters analysed

Q2 2025

Mixed

'record price per acre', 'record NOI', and 'raising guidance', while providing specific figures such as a 29% increase in average land price and $1.64 EPS.

Q3 2025

Mixed

'record quarter', 'record-high residential land sales', and 'raising full-year MPC guidance' to emphasize outperformance.

Q4 2025

Mixed

provided specific 2026 guidance ranges, and expressed high confidence in the Vantage acquisition timeline and strategic transformation. Bill Ackman stated 'the real estate operation is really running on all cylinders' and the stock is 'super cheap'.

Q1 2026 latest

Mixed

'MPC EBT up 33%', 'intrinsic value $104 per share', and provided specific numeric targets for 2030 ($211 per share). They framed the quarter as ahead of expectations and introduced new KPIs with conviction.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Management provided a conservative intrinsic value estimate of $104/share (vs ~$65 trading price) and a five-year target of $211/share, implying a 16% annual intrinsic value growth rate. The new KPIs make the real estate business easier to value by focusing on residual land value and condo pipeline rather than volatile quarterly earnings. The insurance pivot with Vantage and Marc Grandisson's addition adds a credible high-ROE capital deployment avenue. However, the shift away from pure real estate may alienate some current shareholders, and execution risk in insurance remains. Key next quarter watch items: Vantage closing and initial capital allocation, actual MPC land value appreciation vs. the assumed residual values, and any non-core asset sale announcements.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED HHH Q1 2026: MPC EBT up 33%, $84M; Vantage deal to close in Q2

Revenue & Profitability

Not discussed in this earnings call. Specific revenue, net income, and operating income figures for the overall company were not provided. Key segment metrics: MPC EBT was $84 million (up 33% YoY). Operating Asset NOI grew 2% YoY. Condo gross profit was roughly breakeven in Q1. G&A expense was $25.8 million (including $3.8 million Pershing fees and $3.4 million Vantage costs). Net interest expense declined year-over-year.

Outlook

Management expressed confidence in strong demand across MPCs, with new home sales up 12% in Bridgeland and 6% in Summerlin. Land values continue to appreciate at high single to low double-digit rates. The acquisition of Vantage provides a durable capital allocation outlet. No significant macro headwinds were discussed, but the company noted that rates can affect quarterly sales pace.

Growth Drivers

Key growth drivers include: converting MPC land into cash at rising prices; expanding recurring NOI from Operating Assets (multifamily and office leasing); executing on the $5 billion condo pipeline (estimated future GAAP revenue); and deploying excess cash (projected $2.5-3 billion over five years) into Vantage to improve its ROE and intrinsic value. West Phoenix land is also being evaluated for data center or city-scale partnerships.

Balance Sheet & CapEx

Not discussed in this earnings call. The company completed a $1 billion refinancing at tight credit spreads and a $300 million mortgage at Downtown Summerlin. No specific CapEx guidance or investment figures were provided for the quarter.

Margins

Not discussed in this earnings call. No explicit margin metrics or trajectory were provided for any segment.

Key Risks

Risks mentioned include: regulatory delays for the Vantage acquisition (though management expects timely close); lumpiness of MPC and condo earnings due to parcel timing and tower deliveries; potential impact of rising interest rates on housing demand and land sales pace; and insurance industry risks if underwriting discipline is not maintained.

Generated by AI · Q1 2026 results · Not investment advice

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.