Ackman's $900 Million Power Play: Pershing Square Takes Massive Stake In Howard Hughes With 48% Premium
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 05 2025
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Source: Benzinga
Investment Agreement: Howard Hughes Holdings Inc. announced a $900 million investment agreement with Pershing Square, led by Bill Ackman, to acquire 9 million newly issued shares at a premium price of $100 per share, which represents a 48% increase over the previous closing price.
Strategic Changes: Following this investment, Pershing Square will hold nearly 47% of HHH's shares while agreeing to limit its voting power to 40%. The partnership aims to diversify HHH into a holding company and enhance its real estate development efforts, with Ackman appointed as executive chairman.
Analyst Views on HHH
Wall Street analysts forecast HHH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HHH is 96.33 USD with a low forecast of 89.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 82.790
Low
89.00
Averages
96.33
High
105.00
Current: 82.790
Low
89.00
Averages
96.33
High
105.00
About HHH
Howard Hughes Holdings Inc. owns, manages, and develops commercial, residential, and mixed-use real estate throughout the United States. The Company operates through three business segments: Operating Assets, master planned communities (MPCs), and Strategic Developments. In its Operating Assets segment, it owns a variety of asset types, including approximately 9.2 million square feet of retail and office properties, 5,587 wholly and partially owned multifamily units, and wholly and partially owned other properties and investments. Its assets in this segment are primarily located in and around Houston, Texas (The Woodlands and Bridgeland); Columbia, Maryland (Columbia); Las Vegas, Nevada (Summerlin), and Honolulu, Hawai‘i (Ward Village). In its MPC segment, it plans, develops, and manages small cities and large-scale, mixed-use communities in markets. The Strategic Developments segment consists of residential condominium and commercial property projects.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
