Howard Hughes Corporation (The) Stock Price, News & Analysis

The Howard Hughes Corporation (NYSE: HHC) announced that Interim CEO David O'Reilly will present at the NAREIT 2020 Investor Conference on November 18, 2020, at 11:30 am ET. The conference is free to attend and will be accessible live or on-demand after registration at www.reit.com. Investors can also schedule one-on-one meetings with Mr. O'Reilly by contacting Tracey Wynn. The company is known for its leading real estate portfolio, including various master-planned communities and operating properties across the U.S.

The Howard Hughes Corporation (HHC) reported third-quarter 2020 results, showing significant sales momentum despite COVID-19 impacts. Net income rose to $139.7 million ($2.51 per diluted share), driven by a $267.5 million gain from the deconsolidation of 110 North Wacker. New home sales grew in master-planned communities, with The Woodlands Hills up 185%. Retail collections improved to 66%, while occupancy rates remained over 90%. The company executed a $750 million bond offering and continued its Transformation Plan, enhancing liquidity and reducing corporate overhead.

The Howard Hughes Corporation (HHC) has proposed a $1.4 billion development in Lower Manhattan's Seaport area, converting a parking lot into a mixed-income project with affordable housing, a new museum building, and financial support for the Seaport Museum. The scheme is expected to create nearly 2,500 permanent jobs and 2,000 construction jobs, generating over $1.8 billion in economic impact. Designed by Skidmore, Owings & Merrill, the plan incorporates community feedback and aims to improve the area's housing landscape while preserving its historical significance.

The Howard Hughes Corporation (NYSE: HHC) announced its upcoming third-quarter earnings release set for November 5, 2020, after market close, followed by a conference call on November 6, 2020, at 10:00 a.m. ET. Shareholders can participate via dial-in or a live audio webcast on the company's website. A replay of the call will be available until December 10, 2020. The company, known for its extensive real estate portfolio including master-planned communities, remains committed to innovative development and design excellence.

The Howard Hughes Corporation (HHC) and Riverside Investment & Development have announced the opening of the landmark office tower at 110 North Wacker Drive in Chicago. This 55-story building features over 1.5 million rentable square feet, marking it as the tallest office building in the city. Designed with health and wellness in mind, it incorporates best-in-class infrastructure and public spaces. Major tenants include Bank of America and other leading firms, demonstrating strong pre-leasing momentum and tenant diversification.

The Howard Hughes Corporation (HHC) announced its third-quarter earnings release date as November 9, 2020, after market close. A conference call will follow on November 10, 2020, at 10:00 a.m. ET. Participants can join via phone or listen to a live audio webcast on the company's website. A replay of the call will be available until December 10, 2020. HHC manages a vast portfolio of master-planned communities and real estate projects across the U.S., including renowned locations such as The Woodlands and Summerlin. Further details can be found on Howard Hughes' website.

The Howard Hughes Corporation (NYSE: HHC) announced the appointment of David O'Reilly as interim CEO, following the retirement of Paul Layne on September 17, 2020. Layne, who served as CEO for nine years, has been instrumental in the company's growth, notably during the pandemic. Under his leadership, the company executed a strategic transformation, focusing on core master-planned communities and conducting successful equity and bond offerings. O'Reilly, previously President and CFO, is expected to guide the company while a search for a permanent CEO is conducted.

The Howard Hughes Corporation (NYSE: HHC) announced the closing of a $750 million offering of 5.375% senior notes due in 2028. The offering was conducted through a private placement and the notes are guaranteed by certain subsidiaries. Proceeds will be used for general corporate purposes, including repayment of existing debt. The offering relied on Rule 144A and Regulation S exemptions, meaning the notes are not registered under the Securities Act and cannot be sold in the U.S. without registration.

The Howard Hughes Corporation (HHC) has announced the pricing of $750 million in senior notes due 2028 with a 5.375% annual interest rate. The notes will be issued in a private placement and will not be registered under the Securities Act. The offering is expected to close on August 18, 2020. Proceeds will be used for general corporate purposes, including repaying existing debt. The notes are guaranteed by certain subsidiaries of the company, aligning with HHC's strategy to manage its financial health.