Last $151.11 USD
Change Today -2.26 / -1.47%
Volume 90.5K
HHC On Other Exchanges
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As of 8:04 PM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

13355 Noel Road

22nd Floor

Dallas, TX 75240

United States

Phone: 214-741-7744

Fax: 214-741-3021

The Howard Hughes Corporation develops and operates master planned communities and mixed-use properties. The company is engaged in the development of master planned communities and the ownership, management, and development or repositioning of real estate assets, also called operating assets, as well as other strategic real estate opportunities in the form of entitled and unentitled land and other development rights, also called strategic developments. Business Segments The company operates through three segments: Master Planned Communities, Operating Assets, and Strategic Developments. Master Planned Communities This segment consists of the development and sale of residential and commercial land, primarily in large-scale projects. The company’s master planned communities are located in and around Las Vegas, Nevada; Houston, Texas; and Columbia, Maryland. It owns four master planned communities (The Woodlands, Summerlin, Bridgeland and Maryland). Its master planned community in Maryland includes four separate communities that are collectively referred to as the ‘Maryland Communities’. The company’s master planned communities include approximately 11,500 acres of land remaining to be sold. Residential sales, which are made primarily to home builders, include standard and custom parcels, as well as high density (condominiums, townhomes, and apartments) parcels designated for detached and attached single- and multi-family homes, ranging from entry-level to luxury homes. Commercial sales include land parcels designated for retail, office, resort, services, and other for-profit activities, as well as those parcels designated for use by government, schools, and other not-for-profit entities. Operating Assets This segment contains 27 properties, investments, and other assets consisting primarily of commercial mixed-use, retail, multi-family, and office properties. These assets include 8 mixed-use and retail properties, 9 office properties (the ‘Columbia Office Properties’ contain 5 separate office buildings), a multi-family apartment building, a resort and conference center, a 36-hole golf and country club, 3 equity investments, and 4 other assets. Strategic Developments This segment consists of near, medium and long-term development projects for 24 of the company’s real estate properties. MASTER PLANNED COMMUNITIES Bridgeland (Houston, Texas) Bridgeland is located near Houston, Texas and consists of approximately 11,400 acres. There were approximately 2,100 homes occupied by approximately 7,350 residents as of December 31, 2013. Bridgeland had approximately 3,452 residential acres and 1,149 commercial acres remaining to be sold. Bridgeland's conceptual plan was revised in 2012 and includes four villages – Lakeland Village, Parkland Village, Prairieland Village and Creekland Village. The conceptual plan also includes an 800-acre Town Center mixed-use district and a designed network of trails totaling approximately 60 miles that would provide pedestrian connectivity to residential villages and neighborhoods and access to recreational, educational, cultural, employment, retail, religious, and other offerings. The conceptual plan also contemplates that the Town Center would be located adjacent to the expansion of State Highway 99 (the ‘Grand Parkway’), which is a 180-mile circumferential highway traversing seven counties that provides access to southwest, west, northwest, north, and northeast Houston. Bridgeland's first five neighborhoods are located in Lakeland Village. The company expects Bridgeland to feature approximately 3,000 acres of waterways, lakes, trails, parks, and open spaces, as well as an expansive Town Center that would provide employment and room for retail, educational, and entertainment facilities. Maryland Communities The company’s Maryland communities consist of four projects, such as Columbia; Gateway; Emerson; and Fairwood. Columbia: Columbia, located in Howard County, Maryland, is an internationally recognized model of a master planned community. As of December 31, 2013, Columbia was home to approximately 100,000 people. Situated between Baltimore and Washin

 

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HHC

Industry Average

Valuation HHC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 10.7x
Price/Book 2.8x
Price/Cash Flow NM Not Meaningful
TEV/Sales 6.5x
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