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Seaport Entertainment Group Inc. (NYSE:SEG) ("Seaport Entertainment Group," "SEG" or the "Company") announced today its operating and financial results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Completed the previously announced separation from predecessor parent company Howard Hughes Holdings Inc. (NYSE:HHH) ("Howard Hughes") on July 31, 2024 (the "Separation"), and is now an independent, standalone publicly traded company listed on the NYSE American under the ticker symbol "SEG". Reported a net loss of ($32.5) million, or ($5.89) per basic and diluted share attributable to common stockholders, compared with a net loss of ($736.2) million, or ($133.31) pe
THE WOODLANDS, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company," "HHH," or "we") today announced operating results for the third quarter ended September 30, 2024. The financial statements, exhibits, and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further detail of these results. Third Quarter 2024 Highlights: Net income from continuing operations per diluted share of $1.95 compared to $0.64 in the prior-yearMaster Planned Community (MPC) EBT of $145 million sets a new quarterly record—driven by a 184% year-over-year incre
THE WOODLANDS, Texas, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) ("the Company" or "Howard Hughes") announced today that the Company will release 2024 third quarter earnings on Monday, November 4, 2024, after the market closes and will hold its third quarter conference call on Tuesday, November 5, 2024, at 12:00 PM Eastern Time. The Company's earnings release will be posted to the Investors section of the Company's website prior to the conference call. Please visit the Howard Hughes website to listen to the earnings call via a live webcast. Listeners who wish to participate in the question and answer session may do so via telephone by pre-registering on HHH's
THE WOODLANDS, Texas, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company" or "HHH") today announced the completion of the spinoff of the Company's Seaport Entertainment division into a separate public company, Seaport Entertainment Group Inc., effective 11:59 p.m. Eastern Time on July 31, 2024. Under the terms of the separation, after market close on July 31, 2024, each stockholder who held HHH common stock as of the close of business on July 29, 2024, the record date for the distribution, received one share of Seaport Entertainment Group common stock for every nine shares of common stock of HHH held at the close of business on such date. Cash will be p
THE WOODLANDS, Texas, July 26, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company," "HHH," or "we") today announced operating results for the second quarter ended June 30, 2024. The financial statements, exhibits, and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further detail of these results. Second Quarter 2024 Highlights: Net income per diluted share of $0.42 compared to a loss of $(0.39) in the prior-year period MPC EBT of $123 million driven by an impressive 315% year-over-year increase in residential land sales at a record quarterly aver
THE WOODLANDS, Texas, July 23, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) ("the Company" or "HHH") announced today that outstanding shares of common stock of Seaport Entertainment Group Inc. ("Seaport Entertainment") will be traded on the NYSE American stock exchange ("NYSE American") following their distribution to HHH common stockholders (the "Distribution") of record at the close of business on July 29, 2024 (the "Record Date"). The Distribution is expected to be payable after market close on July 31, 2024 (the "Distribution Date"). This is a change from the previous announcement on Thursday, July 18, 2024, which stated that Seaport Entertainment common stock would
THE WOODLANDS, Texas, July 18, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company" or "HHH") announced today that its Board of Directors has authorized and declared a pro rata distribution (the "Distribution") of 100% of the outstanding shares of common stock of Seaport Entertainment Group Inc. ("Seaport Entertainment") to holders of record of HHH common stock as of the close of business on July 29, 2024 (the "Record Date"). The Distribution is expected to be payable after market close on July 31, 2024 (the "Distribution Date"). As a result of the Distribution, holders of HHH common stock will receive one share of Seaport Entertainment common stock for every nine
THE WOODLANDS, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) ("the Company" or "Howard Hughes") announced today that the Company will release 2024 second quarter earnings on Friday, July 26, 2024, at 7:00 a.m. Eastern Time, followed by its second quarter conference call at 9:30 a.m. Eastern Time. The Company's earnings release will be posted to the Investors section of the Company's website prior to the conference call. Please visit the Howard Hughes website to listen to the earnings call via a live webcast. Listeners who wish to participate in the question and answer session may do so via telephone by pre-registering on HHH's earnings call registration w
THE WOODLANDS, Texas, June 27, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today the acquisition of Waterway Plaza II, a Class A office building that offers 142,448 rentable square feet in The Woodlands Town Center—the downtown core of the company's acclaimed community of The Woodlands® in the Greater Houston region. Purchased for $19.2 million, the six-story building sits on a 3.23-acre site and includes a 1,316-space parking garage. With current occupancy of 55%, Waterway Plaza II provides much needed inventory to Howard Hughes' office portfolio in The Woodlands Town Center, which is currently 96% leased. "With this acquisition of over three prime acres a
THE WOODLANDS, Texas, May 08, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company," "HHH," or "we") today announced operating results for the first quarter ended March 31, 2024. The financial statements, exhibits, and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further detail of these results. First Quarter 2024 Highlights: Net loss per diluted share of $(1.06) compared to $(0.46) in the prior-year period primarily related to reduced commercial land sales, lower equity earnings from The Summit, and increased G&A expenses associated with the anti
THE WOODLANDS, Texas, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today it will host its 2024 Investor Day on Monday, November 18 in Summerlin®, the company's award-winning master planned community in Las Vegas, Nevada. The event will include a presentation led by the HHH executive team which will be webcast live starting at 1:00 p.m. Pacific Time (4:00 p.m. Eastern Time). To listen to the live webcast, please visit the company's website. An on-demand replay of the webcast and corresponding presentation materials will also be available following the conclusion of the event. About Howard Hughes Holdings Inc.Howard Hughes Holdings Inc. owns, manages,
LAS VEGAS, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) today announced the appointment of real estate industry veteran Jose Bustamante as President of the Nevada Region, where he will lead the acclaimed 22,500-acre Howard Hughes community of Summerlin® in Las Vegas. Ranked one of the best places to live in the country, Summerlin is a top-selling community nationwide with nearly 127,000 residents and approximately 5,000 acres remaining to accommodate future growth. Mr. Bustamante will assume his leadership position at Summerlin beginning December 1, 2024. Mr. Bustamante brings two decades of experience and a strong track record of leading and growing high-per
Seaport Entertainment Group Inc. (NYSE:SEG) ("Seaport Entertainment Group," "SEG" or the "Company") announced today its operating and financial results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Completed the previously announced separation from predecessor parent company Howard Hughes Holdings Inc. (NYSE:HHH) ("Howard Hughes") on July 31, 2024 (the "Separation"), and is now an independent, standalone publicly traded company listed on the NYSE American under the ticker symbol "SEG". Reported a net loss of ($32.5) million, or ($5.89) per basic and diluted share attributable to common stockholders, compared with a net loss of ($736.2) million, or ($133.31) pe
THE WOODLANDS, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company," "HHH," or "we") today announced operating results for the third quarter ended September 30, 2024. The financial statements, exhibits, and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further detail of these results. Third Quarter 2024 Highlights: Net income from continuing operations per diluted share of $1.95 compared to $0.64 in the prior-yearMaster Planned Community (MPC) EBT of $145 million sets a new quarterly record—driven by a 184% year-over-year incre
THE WOODLANDS, Texas, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today it has once again earned the top ranking in its peer group of Americas Diversified Listed real estate companies by the Global Real Estate Sustainability Benchmark (GRESB). The ranking is part of the 2024 GRESB Real Estate Assessment's Standing Investments Benchmark. The comprehensive actions that helped secure these rankings are detailed in the company's recent Communities Report and reinforce advancements made across the national portfolio of acclaimed Howard Hughes communities. Each year, GRESB assesses and benchmarks the performance of assets worldwide, providing clarity and i
THE WOODLANDS, Texas, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) ("the Company" or "Howard Hughes") announced today that the Company will release 2024 third quarter earnings on Monday, November 4, 2024, after the market closes and will hold its third quarter conference call on Tuesday, November 5, 2024, at 12:00 PM Eastern Time. The Company's earnings release will be posted to the Investors section of the Company's website prior to the conference call. Please visit the Howard Hughes website to listen to the earnings call via a live webcast. Listeners who wish to participate in the question and answer session may do so via telephone by pre-registering on HHH's
THE WOODLANDS, Texas, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) broke ground yesterday on The Ritz-Carlton Residences, The Woodlands, the new luxury condominium project designed by Robert A.M. Stern Architects in the acclaimed Howard Hughes community of The Woodlands®. Situated on the last available large-scale residential site on Lake Woodlands, The Ritz-Carlton Residences are designed to provide a personalized and intimate residential experience that sets a new standard for luxury living in Texas. Located 27 miles north of Downtown Houston in a community that is consistently ranked one of the best places to live in America, The Ritz-Carlton Residences has e
LAS VEGAS, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today that its award-winning community of Summerlin® in Las Vegas has achieved LEED precertification by the U.S. Green Building Council (USGBC), becoming Nevada's first master planned community to achieve this distinction. Summerlin joins an elite global group of entities—including the Howard Hughes communities of The Woodlands®, Bridgeland®, Downtown Columbia®, and Ward Village®—that are recognized by USGBC for their dedication to making their communities healthy, resilient, inclusive, and inherently sustainable for residents. With this addition, Howard Hughes now boasts one of the largest LEED p
PHOENIX, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) today announced that long-time Arizona real estate leader Charley Freericks has been appointed President of the Phoenix Region. Mr. Freericks will lead residential and commercial development, leasing, and operations of Teravalis™, the new 37,000-acre Howard Hughes community in the Phoenix West Valley. Floreo, the first residential village of Teravalis set to open in 2025, is currently under development to deliver the community's initial 5,000 homes. At full buildout, Teravalis is anticipated to provide 100,000 homes for 300,000 residents, along with 55 million square feet of commercial development to one of t
THE WOODLANDS, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) (the "Company" or "HHH") today announced that Pershing Square Capital Management, L.P., the Company's largest stockholder, has stated in a regulatory filing that it is, and intends to continue, evaluating the possibility of various potential alternatives with respect to its investment in the Company, including a possible transaction in which it (either alone or together with one or more potential co-investors) may acquire all or substantially all of the shares of common stock in the Company not owned by Pershing Square and their affiliates, and in connection therewith take the Company private. Pe
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LAS VEGAS, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) today announced the appointment of real estate industry veteran Jose Bustamante as President of the Nevada Region, where he will lead the acclaimed 22,500-acre Howard Hughes community of Summerlin® in Las Vegas. Ranked one of the best places to live in the country, Summerlin is a top-selling community nationwide with nearly 127,000 residents and approximately 5,000 acres remaining to accommodate future growth. Mr. Bustamante will assume his leadership position at Summerlin beginning December 1, 2024. Mr. Bustamante brings two decades of experience and a strong track record of leading and growing high-per
PHOENIX, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) today announced that long-time Arizona real estate leader Charley Freericks has been appointed President of the Phoenix Region. Mr. Freericks will lead residential and commercial development, leasing, and operations of Teravalis™, the new 37,000-acre Howard Hughes community in the Phoenix West Valley. Floreo, the first residential village of Teravalis set to open in 2025, is currently under development to deliver the community's initial 5,000 homes. At full buildout, Teravalis is anticipated to provide 100,000 homes for 300,000 residents, along with 55 million square feet of commercial development to one of t
THE WOODLANDS, Texas, July 16, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) today announced that Bhupesh Arora has been named the company's Chief Technology Officer. Mr. Arora will oversee technology strategy, development, and operations across the company's national portfolio of large-scale master planned communities and mixed-use properties. Mr. Arora brings more than 20 years of experience as a senior IT leader with various Fortune 500 global manufacturing and industrial companies, playing a pivotal role in driving global technology strategy and digital transformation. He most recently served as the Vice President, Information Technology at Magellan Midstream Partner
THE WOODLANDS, Texas, June 18, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today the appointment of Dana Hamilton to the company's Board of Directors. Ms. Hamilton is a veteran C-suite executive with a track record of growing successful real estate operating and investment companies and using data analytics and technology to drive performance-enhancing organizational and industry change. "Dana's senior leadership experience building large businesses in the apartment and single-family rental industries brings a valuable asset to Howard Hughes as the company continues to expand within these market sectors to meet the growing demand for housing solutions," said
PHOENIX, April 03, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today the first four homebuilders for the launch of Teravalis™, the company's new 37,000-acre community in the Phoenix West Valley. Lennar, Brightland Homes, KB Home, and Courtland Communities will build the initial homes in Floreo, the first village being developed in Teravalis, that is expected to deliver the community's first 5,000 homes to the market over the next decade. "We are pleased to begin residential development in Teravalis as we build this innovative new community that will help meet the ongoing market demand for homes in the Phoenix West Valley," said David O'Reilly, Chief Executive
THE WOODLANDS, Texas, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today that Joseph Valane has been appointed General Counsel and Secretary of the company, effective March 18, 2024. Mr. Valane will oversee all legal matters for Howard Hughes and its national portfolio of award-winning communities. "We are excited to welcome Joe to the Howard Hughes management team as General Counsel during this time of exciting growth and opportunity for the company," said David R. O'Reilly, Chief Executive Officer for Howard Hughes. "Joe's extensive experience and his strategic approach will be valued resources as Howard Hughes continues to outperform and reinforce
HHH Intends to Spinoff New Division, Seaport Entertainment, to Shareholders by Year-End 2024 HOUSTON, Oct. 5, 2023 /PRNewswire/ -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today that Anton D. Nikodemus has been appointed Chief Executive Officer of Seaport Entertainment, a newly formed division comprising the company's entertainment-related assets in New York and Las Vegas—including the Seaport in Lower Manhattan and the Las Vegas Aviators® Triple-A Minor League Baseball team, as well as the company's ownership stake in Jean-Georges Restaurants and its 80% interest in the air rights above the Fashion Show Mall, which are intended to be used to create a new casino on the Las Vegas Stri
HOUSTON, Oct. 3, 2023 /PRNewswire/ -- Howard Hughes Holdings Inc. (NYSE:HHH) ("the Company" or "Howard Hughes") announced today that Elena Verbinskaya has been appointed Chief Accounting Officer and designated Principal Accounting Officer for the Company, responsible for overseeing accounting and financial reporting across the Company's national portfolio. Verbinskaya joined Howard Hughes in 2023 as Executive Vice President of Accounting. Prior to joining Howard Hughes, she served as Vice President of Financial Reporting and Accounting Integration at IPSCO Tubulars Inc., a Nor
Long-time community leader Greg Fitchitt takes on expanded role for Howard Hughes COLUMBIA, Md., Aug. 28, 2023 /PRNewswire/ -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today that Kristi Smith has been named President of the company's Maryland region, where she will lead the continued growth and revitalization of Downtown Columbia®. Smith is a seasoned commercial real estate development and investment leader who brings 20 years of experience with a focus in the Washington, D.C. metro region. She assumes the leadership role at a time of dynamic growth, with Downtown Columbia undergoing a $5 billion, 30-year redevelopment plan which is transforming Columbia's urban core.
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HHH now expects "when-issued" trading of Seaport Entertainment common stock to begin on July 29, 2024, on NYSE American under the symbol "SEG WI." The "when-issued" trading market is a market for the yet-to-be-issued shares of Seaport Entertainment common stock that will be distributed to holders of HHH common stock on the Distribution Date. "Regular-way" trading of Seaport Entertainment common stock is expected to begin on NYSE American on August 1, 2024, under the symbol "SEG."
Howard Hughes Holdings announced today that its Board of Directors has authorized and declared a pro rata distribution of 100% of the outstanding shares of common stock of Seaport Entertainment Group Inc. ("Seaport Entertainment") to holders of record of HHH common stock as of the close of business on July 29, 2024 (the "Record Date"). The Distribution is expected to be payable after market close on July 31, 2024 (the "Distribution Date"). As a result of the Distribution, holders of HHH common stock will receive one share of Seaport Entertainment common stock for every nine shares of HHH common stock held at the close of business on the Record Date.
Jefferies analyst Jonathan Petersen maintains Howard Hughes Holdings (NYSE:HHH) with a Buy and lowers the price target from $89 to $80.
- Reuters
Today's court decision upheld the Appellate Court's ruling in favor of the project, and together with the State's extension of the recent 421-a tax exemption, has cleared all existing impediments to construction and unlocked tremendous value for Howard Hughes shareholders.
Hedge-fund manager Bill Ackman‘s Pershing Square Holdings, Ltd. (OTC:PSHZF) shed shares of a home improvement retailer and reduced its stake in a fast-casual diner, while maintaining most of its other holdings, according to a 13F report filed with the SEC on Wednesday. Patience Wearing Thin? Pershing Square divested all 1.25 million shares it held in Lowe’s Companies, Inc. (NYSE:LOW) by the end of the fourth quarter, valued at $277.19 million at the time. Retailers are navigating a challenging economic landscape as cautious consumers withhold discretionary spending. Lowe’s competitor, Home Depot, Inc. (NYSE:HD), recently reported first-quarter revenue slightly below estimates, with ear
Cash G&A is projected to range between $80 million and $90 million, excluding approximately $25 million of cash expenses associated with the spinoff of Seaport Entertainment and $5 million of anticipated non-cash stock compensation. Condo sales revenues are projected to range between $675 million and $725 million, with gross margins between 28% to 30%. Projected condo sales revenues will be driven by the closing of units at Victoria Place®—a 349-unit upscale development in Ward Village which is 100% pre-sold and expected to be completed late in the fourth quarter of 2024. This guidance contemplates approximately $75 million of condo sales revenues for Victoria Place occurring in the first
Howard Hughes Holdings (NYSE:HHH) reported quarterly losses of $(1.06) per share which missed the analyst consensus estimate of $(0.70) by 51.43 percent. The company reported quarterly sales of $171.138 million which missed the analyst consensus estimate of $225.000 million by 23.94 percent. This is a 12.81 percent decrease over sales of $196.289 million the same period last year.
JP Morgan analyst Anthony Paolone maintains Howard Hughes Holdings (NYSE:HHH) with a Overweight and lowers the price target from $90 to $84.