Howard Hughes Holdings Inc. Stock Price, News & Analysis

Howard Hughes Holdings (NYSE:HHH) reported Q2 2025 results with mixed performance, highlighted by record MPC land pricing and strong Operating Assets results. The company posted a net loss of $(0.22) per diluted share, impacted by a $(0.66) GAAP loss on MUD receivables sale.

Key highlights include Pershing Square's $900 million investment at $100 per share, representing a 48% premium and increasing their ownership to 46.9%. The company achieved Adjusted Operating Cash Flow of $91 million ($1.64 per share) and raised full-year guidance to $410 million.

MPC segment recorded EBT of $102 million with record pricing of $1.35 million per residential acre. Operating Assets delivered NOI of $69 million, up 5% year-over-year. The company launched pre-sales for two new luxury condominiums at Ward Village and raised its full-year 2025 guidance across key metrics.

Howard Hughes Holdings (NYSE: HHH) announced strong performance for its master-planned communities in the RCLCO mid-year 2025 rankings. Summerlin in Las Vegas ranked #7 nationally with 515 new homes sold in H1 2025, while Bridgeland in Greater Houston secured the #14 spot with 438 new homes sold.

Summerlin, spanning 22,500 acres, features over 100 active floor plans across 20 neighborhoods. Its Downtown Summerlin area hosts over 125 retail brands and restaurants. Bridgeland, home to 26,000 residents, is developing Bridgeland Central, a 925-acre urban district featuring an H-E-B grocery store and One Bridgeland Green, a mass timber office development that has achieved 80% occupancy before completion.

Howard Hughes Holdings (NYSE:HHH) has scheduled its 2025 second quarter earnings release for Wednesday, August 6, 2025, after market close. The company will host its earnings conference call on Thursday, August 7, 2025, at 10:00 AM ET.

The earnings release will be available on the Investors section of Howard Hughes' website. Investors can access the live webcast through the company's website, while those interested in participating in the Q&A session must pre-register through HHH's earnings call registration webpage to receive dial-in information. An on-demand replay will be accessible on the website for one year following the call.

Bill Ackman, CEO of Pershing Square Capital Management, has resigned from the Universal Music Group (UMG) Board of Directors, effective May 14, 2025. The resignation follows his recent appointment as Executive Chairman of Howard Hughes Holdings (NYSE: HHH) announced on May 5. Ackman cited increasing demands on his time from other Pershing Square commitments as the reason for his departure.

During his three-year tenure on UMG's board, Ackman helped oversee the company's transition from a private entity to a public company. He expressed confidence in UMG's future growth potential under the leadership of Sir Lucian Grainge.

Howard Hughes Holdings (NYSE: HHH) reported strong Q1 2025 results with net income of $0.21 per diluted share, compared to a loss of $(0.42) in the prior year. The company achieved record quarterly Operating Assets NOI of $72 million, up 9% year-over-year, driven by improved office and multifamily performance. MPC segment reported EBT of $63 million with residential land sales of 70 acres at an average price of $991,000 per acre. Key highlights include $51 million in new condo sales at Ward Village, bringing future revenue backlog to $2.7 billion. Post-quarter, Pershing Square invested $900 million in newly issued HHH stock at $100 per share (48% premium), increasing their ownership to 46.9%. The company maintains its 2025 guidance with mid-point adjusted operating cash flow of $350 million ($7.00 per share). The company's strong liquidity position includes $494 million in cash and $1 billion in undrawn commitments.

Howard Hughes Holdings (NYSE: HHH) has announced a live X Spaces session scheduled for Thursday, May 8 at 11:05 AM ET, following their Q1 earnings call at 10:00 AM ET. The session will feature Chairman Bill Ackman, CIO Ryan Israel, and CEO David O'Reilly discussing the company's transformation into a diversified holding company after receiving a $900 million investment from Pershing Square.

The Town Hall format event will be hosted on X (formerly Twitter) and will be open to the public, allowing participants to engage in dialogue with company leadership. The session will outline HHH's expanded business strategy, focusing on acquiring controlling stakes in high-quality, durable growth public and private operating companies.

Howard Hughes Holdings (NYSE: HHH) has announced a transformative $900 million investment from Pershing Square to acquire 9 million newly issued shares at $100.00 per share, representing a 48% premium to the previous closing price. This investment will increase Pershing Square's ownership to 46.9% of HHH, with voting power limited to 40%.

The deal transforms HHH into a diversified holding company while maintaining its core real estate development business. Bill Ackman becomes Executive Chairman, and Ryan Israel joins as Chief Investment Officer, while current CEO David O'Reilly and team remain in place. Pershing Square will provide investment, advisory, and risk management services for quarterly fees of $3.75 million plus 0.375% of market cap increases above the reference price.

Pershing Square has announced an extension of its standstill agreement with Howard Hughes Holdings (NYSE: HHH). The extension moves the deadline from April 30, 2025, to May 30, 2025, at 5:00 p.m. Eastern Time.

This extension aims to facilitate ongoing discussions regarding Pershing Square's proposal from February 18, 2025, and explore potential alternatives. The company emphasizes that there is no guarantee of any specific outcome from these discussions.

Pershing Square has stated they will not provide additional comments until they determine further disclosure is necessary or legally required. Interested parties can find more information about Pershing Square and related matters in their Schedule 13D filing for HHH, available on the SEC website.

Howard Hughes Holdings has announced an extension of its standstill agreement with Pershing Square Capital Management until May 30, 2025. This development represents a continuation of their previously established arrangement.

The company, trading under NYSE symbol HHH, has enlisted Morgan Stanley as financial advisor to its Special Committee of the Board of Directors. Legal counsel is being provided by Hogan Lovells US and Richards, Layton & Finger.

Howard Hughes maintains a cautious communication stance, stating they will not provide additional comments until deemed necessary or legally required. The company also emphasizes that there is no guarantee of any specific outcome from ongoing discussions with Pershing Square.