HHH

Over the past six months, Howard Hughes Holdings completed the acquisition of Vantage Group Holdings Ltd. for approximately $2.1 billion on June 4, 2026, marking a key step in its diversification. To support this acquisition, HHH issued $1.0 billion of Series A Preferred Stock in June 2026, and Pershing Square Holdings, Ltd. committed to subscribe for up to $1 billion in non-voting exchangeable perpetual preferred stock. The company reported strong second-quarter 2026 results on August 5, 2026, with EPS of $2.68 and revenue of $1.12 billion, significantly beating estimates. In September 2026, analysts increased their revenue forecasts for fiscal year 2026 from US$1.7 billion to US$2.5 billion, indicating optimism for sales. Despite these positive developments, HHH shares hit a new 52-week low of $60.09 on September 21, 2026, though they rallied 8.9% the same day, with a 1-year change of -28% as of September 18, 2026. Insider selling has been observed, with insiders disposing of $1.3 million more than they bought in the last 12 months, including an independent director selling $908,000 worth of stock on August 11, 2026. Bill Ackman's Pershing Square Capital Management remains a significant owner and has been instrumental in the company's strategic shift.