Howard Hughes Q1 net income falls MPC EBT jumps 33%

Howard Hughes Holdings

07/05/2026 22:11

Overview

US real estate developer's Q1 net income fell compared to prior-year period

Q1 Operating Assets NOI rose 2% yr/yr, reflecting steady leasing activity

Master Planned Communities segment EBT grew 33%, driven by increased residential land sales

Outlook

Company expects to close Vantage acquisition in Q2 2026, adding insurance as a second earnings platform

Howard Hughes to shift from annual guidance to long-term objectives for real estate and insurance platforms

Result Drivers

RESIDENTIAL LAND SALES - Co said MPC segment growth was primarily driven by increased residential acres sold at Bridgeland

LEASING ACTIVITY - Modest increases in Operating Assets NOI attributed to continued growth from leasing activity in office and multifamily properties

CONDOMINIUM SALES - Condominium sales at Ulana Ward Village closed at breakeven gross margin, resulting in flat contribution

Company press release: ID:nGNX87xZSM

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$8.20 mln
Q1 NOI
$73.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

Wall Street's median 12-month price target for Howard Hughes Holdings Inc is $97.50, about 52.1% above its May 6 closing price of $64.12

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)