$HHC On Monday, Ackman recommended investing in re
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Posted On: 05/10/2017 2:06:00 PM
$HHC On Monday, Ackman recommended investing in real estate company Howard Hughes Corp. (HHC). The stock jumped 3.8% higher to $126.70 on the news, with the highest number of daily shares traded in years.
To be fair, the stock has already been in a bullish trend, up 16.7% from it's 2017 low in January.
Ackman is impressed with the company's prime commercial locations, and Howard Hughes has plenty of cash on hand to fund development costs as it builds out its properties. Currently, HHC does not pay a dividend, but once its properties begin to generate cash flow that could change.
It's definitely a name to keep on the watch list as the U.S. economy picks up, job growth improves, and consumer spending ramps higher.
To be fair, the stock has already been in a bullish trend, up 16.7% from it's 2017 low in January.
Ackman is impressed with the company's prime commercial locations, and Howard Hughes has plenty of cash on hand to fund development costs as it builds out its properties. Currently, HHC does not pay a dividend, but once its properties begin to generate cash flow that could change.
It's definitely a name to keep on the watch list as the U.S. economy picks up, job growth improves, and consumer spending ramps higher.
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