Opinions
Jeffrey F. Olin
Howard Huges
HHC-N
PAST TOP PICK
Jan 15, 2020
(A Top Pick Jul 31/19, Down 8%) Should be at $175. It's a corporation, not a REIT, so not in REIT indices. Pays no dividend. They're completely self-funded with their own money. Outstanding world-class assets. They just announced a strategic review. Rumours of a sale inflated the stock, but the company didn't sell after all. So, investors dumped the stock. It has since recovered 80%.
$124.140
Stock price when the opinion was issued
0
It's the ideal tool to help you make quicker, more informed decisions for
managing and tracking your investments.
You might be interested:
TOP PICK
A $6 billion marketcap. A corporation that pays no dividend. Worth $170 per share. They own the original Howard Huges land in Las Vegas -- expensive real estate. Yield 0% (Analysts’ price target is $155.00)
0
PAST TOP PICK
(A Top Pick Jul 31/19, Down 18%) A large entity that still owns the Howard Huges lands in Las Vegas. In June an announcement was made that a strategic review of the stock was being made. The stock jumped up sharply afterwards. Since then they have not found a buyer, but have found ways to save $50 million a year. This was not enough for the speculative buyers and the stock has fallen since. Some of the best real estate assets on the planet, he thinks. He will continue to hold it. Yield 0%
0
COMMENT
They've had their third CEO in the past 18 months. They own communities in Las Vegas and Houston. It's cheap, trading at a wide discount to NAV. It's easily worth $120, twice as much as current prices.They now own office buildings in Houston which is tough to value, but HHC owns single-family lots in places like Houston. It's not a value trap, but you need to wait to see if the value crystallizes in the next few years. There are more defensive companies with better near-term growth.
0
Advertising