Howard Hughes Holdings (HHH)
Real Estate · Diversified real estate developer and holding company with strategic insurance acquisition
A diversified holding company and large-scale master-planned community developer transitioning into specialty insurance through acquisitions, with a real estate portfolio spanning ~101,000 acres across five states.
What Howard Hughes Holdings does
Howard Hughes Holdings operates as a holding company focused on large-scale mixed-use real estate development through master planned communities (MPCs), strategic real estate development, and income-producing properties spanning approximately 101,000 gross acres across five states. The company is executing a transition from a pure-play real estate developer to a diversified holding company, having received $900 million in capital from Pershing Square in 2025 and entering into a definitive agreement to acquire Vantage Group Holdings, a specialty insurance and reinsurance company, for approximately $2.1 billion. Through its three business segments—Operating Assets, MPCs, and Strategic Developments—the company creates a value-creation cycle by developing land for homebuilders, building commercial properties, and operating income-producing assets.
Themes: ["Master planned communities","Mixed-use real estate development","Residential land development","Commercial real estate development","Real estate income and operations","Strategic diversification / holding company transformation","Specialty insurance and reinsurance"]
Fundamentals
- Price$72.04 as of 2026-07-09 close
- Market cap$4.3B as of 2026-07-10
- 1-year return+4.3% as of 2026-07-09 close
- P/E35.43 as of 2026-07-10
- Net margin+8.0% as of 2026-07-10
- Gross margin+48.0% as of 2026-07-10
- ROE+3.3% as of 2026-07-10
- Debt / equity1.53 as of 2026-07-10
- Revenue growth (YoY)-17.3% as of 2026-07-10
- Revenue CAGR (3y)-0.3% SEC XBRL
- Beta1.14 as of 2026-07-10
Key risks (from latest filing)
["Revenue decline of 17.29% YoY and significant dependence on real estate development cycles and homebuilder demand for land sales","Material leverage with mortgages, notes, and loans payable of $5.8 billion as of March 31, 2026, and acquisition of Vantage for $2.1 billion subject to regulatory approvals and closing conditions","Substantial unrealized investments in unconsolidated ventures and exposure to interest rate swaps and debt extinguishment losses affecting financial performance"]
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.