Clark Street Value is bullish on Howard Hughes Corp (NYSE:HHC) stock. Clark Street Value is an individual investor that is focused on finding value and special situation investments. Howard Hughes Corp (NYSE:HHC) is a real estate development and management company. In the last one year, Howard Hughes Corp (NYSE:HHC) stock lost 37.3% and on January 4th it had a closing price of $77.57.
Clark Street Value said Howard Hughes’ diversified model should help them compared to pure play real estate investment trusts. The investor believes that going forward the company will concentrate on residential land development compared to on office/multi-family new construction they were before the coronavirus pandemic. Clark Street Value added, “their big land banks are in Las Vegas and Houston, maybe not as hot as Austin and Miami but they’re both low cost-of-living and no state income tax markets that should have the wind at their backs.”
In Q3 2020, the number of bullish hedge fund positions on Howard Hughes Corp (NYSE:HHC) stock increased by about 11% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in HHC’s growth potential. Our calculations showed that Howard Hughes Corp (NYSE:HHC) isn’t ranked among the 30 most popular stocks among hedge funds.
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Video: Top 5 Stocks Among Hedge Funds
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