(HHH) Howard Hughes - Ratings and Ratios

Howard Hughes Corporation (NYSE: HHH) is a U.S.-based real estate development company with a diverse portfolio spanning multiple sectors. Founded in 2010 and headquartered in The Woodlands, Texas, the company operates through four primary segments: Operating Assets, Master Planned Communities (MPCs), Seaport, and Strategic Developments. Its market capitalization stands at $3.84 billion, with a price-to-book ratio of 1.47, indicating a modest premium to its book value. The forward P/E ratio of 33.11 suggests investor expectations for significant future growth.

The Operating Assets segment includes a mix of retail, office, and multi-family properties, along with other retail investments. This segment provides a steady income stream through leases and property management. The MPCs segment focuses on long-term community development projects in high-growth markets such as Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona. These projects are designed to create scalable, master-planned communities that attract homebuilders and residents alike.

The Seaport segment revolves around the company’s iconic Pier 17 in New York City, along with the Historic Area/Uplands, the Tin Building, and 250 Water Street. This segment generates revenue through a combination of landlord operations, managed businesses, and events. The Strategic Developments segment is geared toward higher-margin projects, including residential condominiums and commercial properties, often in urban locations with strong demand for mixed-use developments.

With a price-to-sales ratio of 3.22, the company is valued at a premium relative to its revenue. This reflects investor confidence in its ability to execute on its pipeline of projects and capitalize on growing demand for housing and mixed-use spaces in key markets. For investors and fund managers, HHH offers exposure to a diversified real estate portfolio with a mix of stable income-generating assets and higher-risk, higher-reward development projects.

More information about Howard Hughes Corporation can be found at https://www.howardhughes.com.