Howard Hughes Holdings Inc. - HHH STOCK NEWS

Howard Hughes Holdings (NYSE: HHH) has confirmed receiving a revised unsolicited acquisition proposal from Pershing Square Capital Management. The proposal, submitted after a meeting on February 13, 2025, replaces an initial proposal made on January 13, 2025. The company's Special Committee of independent directors, formed on August 8, 2024, has not engaged in negotiations or made any determinations regarding the proposals.

The revised proposal was made public on February 18, 2025, at the Special Committee's request. The proposal is subject to various conditions, including negotiation of a definitive agreement and approval by both the Special Committee and HHH Board of Directors. No shareholder vote is contemplated in the proposal, and no stockholder action is required at this time.

Howard Hughes announced the opening of Victoria Ward Park Makai in Ward Village®, a 60-acre master planned community in Honolulu. This development coincides with new HCDA Mauka Area Rules effective January 2025, enabling an estimated 2.5 - 3.5 million gross square feet of future redevelopment potential.

The park is the community's first SITES-certified park and represents the initial phase of a two-part development plan for public green space. The updated guidelines focus on transit-oriented development incentive zones, promoting a mix of homes, public spaces, restaurants, and retail experiences.

Ward Village, a LEED Neighborhood Development Platinum Certified community, continues to achieve milestones in urban design, including recent LEED Gold certification for Kō'ula residences. The development aims to create a sustainable, connected community while delivering housing and public amenities to Honolulu's urban core.

Howard Hughes Holdings (NYSE: HHH) has announced its schedule for the release of its 2024 fourth quarter earnings. The company will release its financial results on Wednesday, February 26, 2025, after market close, followed by a conference call on Thursday, February 27, 2025, at 10:00 AM Eastern Time.

The earnings release will be available in the Investors section of the company's website. Investors can access the live webcast through the Howard Hughes website, while those interested in participating in the Q&A session can pre-register through HHH's earnings call registration webpage to receive dial-in information and a PIN. An on-demand replay will be available on the company's website for one year following the call.

Howard Hughes Holdings (NYSE: HHH) has confirmed receiving an unsolicited acquisition proposal from Pershing Square Capital Management. The proposal involves Pershing Square acquiring additional shares through a merger transaction that would result in them owning a majority stake in HHH. Currently, Pershing Square owns approximately 37.6% of HHH's common stock.

A Special Committee of independent directors, formed on August 8, 2024, will evaluate the proposal. The transaction is contingent on several conditions, including negotiation of a definitive agreement, Special Committee approval, and approval from majority shareholders not affiliated with Pershing Square.

Morgan Stanley & Co. is serving as financial advisor to the Special Committee, with Hogan Lovells US LLP and Richards, Layton & Finger, P.A. as legal counsel. No stockholder action is required at this time.

Howard Hughes Holdings' (NYSE: HHH) master planned communities Summerlin and Bridgeland have secured top spots among the nation's best-selling communities for 2024, according to RCLCO's year-end report. Summerlin ranked #5 with 1,055 home sales, while Bridgeland placed #7 with 938 home sales.

Summerlin, located in Las Vegas, maintains its position as one of Nevada's premier communities, featuring over 300 parks, 200+ miles of trails, and extensive amenities. The community, now in its 35th year, has appeared on RCLCO's top 25 list for over 28 years, longer than any other master planned community.

Bridgeland, named 2024 Master Planned Community of the Year by the National Association of Home Builders, achieved significant commercial milestones, including the groundbreaking of Bridgeland Central, a 925-acre urban district. The community welcomed H-E-B in October 2024 and began construction on One Bridgeland Green, Greater Houston's first mass timber office building, which is 80% pre-leased.

Howard Hughes Holdings (NYSE: HHH) has announced its upcoming 2024 Investor Day, scheduled for Monday, November 18, in Summerlin®, their award-winning master planned community in Las Vegas, Nevada. The event will feature presentations from the HHH executive team and will be broadcast via live webcast starting at 1:00 p.m. Pacific Time (4:00 p.m. Eastern Time).

Interested parties can access the webcast through the company's website, and an on-demand replay of the presentation, along with corresponding materials, will be made available after the event concludes.

Howard Hughes Holdings (NYSE: HHH) has appointed Jose Bustamante as President of the Nevada Region, effective December 1, 2024. He will lead the 22,500-acre Summerlin® community in Las Vegas, which hosts 127,000 residents with 5,000 acres for future development. Bustamante brings 20 years of real estate experience, having managed projects totaling 7 million square feet and 700 acres valued at $5 billion. His background includes roles at Lincoln Property Company, Irvine Company, and Hunt Companies. Summerlin, now in its 34th year, features over 300 parks, 200+ miles of trails, and Downtown Summerlin®, located nine miles from the Las Vegas Strip.

Seaport Entertainment Group (NYSE American: SEG) reported Q3 2024 financial results following its separation from Howard Hughes Holdings. The company posted total revenues of $39.7 million, down 1.9% from $40.5 million in Q3 2023, and a net loss of $32.5 million ($5.89 per share), improved from a $736.2 million loss year-over-year.

Key developments include completing a rights offering raising $166.7 million, signing a licensing agreement with The Dead Rabbit, and extending Live Nation programming agreement for five years. The company ended Q3 with $27.8 million in cash and equivalents, $103.4 million in consolidated debt, and a $5 million undrawn credit facility.

Howard Hughes Holdings reported strong Q3 2024 results with net income of $1.95 per diluted share, up from $0.64 year-over-year. The company achieved record Master Planned Community (MPC) EBT of $145 million, driven by a 184% increase in residential land sales at $1 million per acre. Operating Assets NOI grew 8% to $65 million. The company completed Victoria Place, its 7th condominium tower, with expected revenue of $760 million at 27.5% gross margins. Full-year guidance was upgraded across all segments, with MPC EBT guidance increased by $30 million to $330 million midpoint and Operating Assets NOI guidance raised to $257 million.