+ Watch HHC
on My Watchlist
From Kiplinger's, has real estate in Honolulu, NYC, Houston, Las Vegas...NYC South Street Seaport.
Some very early-stage real estate developments in fast-growing markets. Areas focused on well-researched demographic and economic trends, with experienced management at the helm.
Strong real estate recovery play; spin-off opportunity; first bought a $42, adding to a winner
Good pedigree. Outperform.
Below book. Ackman and brookfield involved. Little debt.
Here's the buy rec:http://www.fool.com/investing/general/2011/09/21/a-real-estate-jockey-play-that-im-buying.aspx
Glad I waited for a better price. HHC may see more correction and I will purchase more.
Piling on what my boy TMFTank is doing for his Rising Stars portfolio: http://www.fool.com/investing/general/2011/09/21/a-real-estate-jockey-play-that-im-buying.aspx. HHC is a long-term asset play backed by some smart investing dollars. Their Hawaiin assets (a play on intl trade) could turn out to be very profitable. In the short-term the stock could bonce all over the place because the earnings are lumpy. But ultimately they are worth more than $45 per share once valued in.
Whitney Tilson and David Einhorn
HHC is a newly formed company comprising of high quality assets cherry picked out of the former GGP during bankruptcy. It is developing it assets into world class planned communities, operating mixed-use properties, and high value for-sale locations. Great point #1 - some of these assets are valued at little to zero on the balance sheet. Great point #2 - this incredible company was put together by Bill Ackman of Pershing Square, and the management team consists of strong leaders from TPMC Realty. So, it's got a rock star team piloting high quality properties valued at near zero based on their cost. It should be a recipe for incredible returns for those who can ride out the development time.
assets greatly under valued on books. Hope I don't die waiting for the value to be realized, just because it is there does not mean it will be realized...
Jockey + Patience
Completely undervalued assets and tremendous upside in development opportunities.
like the spruce goose this stock will continue to rise
Assets spun from GGP are undervalued IMO
Putting a value on HHC.After such a successful IPO by GGP....the cash funnel to HHC should put them on solid ground.According the recent lot sales....HHC is trading at a fraction of its potential value.... we already know that.http://www.valueplays.net/2010/11/08/howard-hughes-and-summerlin/But now it appears they have a very strong balance sheet as well.Does anyone have the new numbers in hand ?HHC is no JOE. JOE has huge overhead costs and is already trading considerably above the value of the land. Their land is florida swamp land....HHC land is primo commercial JOE has a poor balance sheet on top of having poor property, an overvalued stock and huge overhead.The reason I state this about JOE is because there will likely be shorts who think they have a winner in HHC. I think this stock could potentially carry em all out in body bags. Very small float. Bill Ackman is a personal hero of mine = betting against him when he is on record for calling this "his little Berkshire".Blackstone and Brookfield paid $47 per share.Imagine the value on HHC if they develop JV deals with Blackstone and Brookfield....and get the entire portfolio built out with very little input cost....
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