Bill Ackman ‘Delighted’ With $900M Howard Hughes Stock (HHH) Deal

Billionaire investor and Pershing Square hedge fund manager Bill Ackman has secured a $900 million investment in real estate company Howard Hughes (HHH). The investment, made through Pershing Square, came with 9 million newly issued shares of HHH stock, bringing the hedge fund’s stake in the company to 46.9%.

Ackman said he was “delighted” with the deal, which has him returning to Howard Hughes as its new Executive Chairman. He noted that Howard Hughes offers “substantial value for shareholders” that has “largely gone unrecognized.” As part of the deal, Pershing Square Chief Investment Officer Ryan Israel also joined Howard Hughes in the same role.

Ackman’s investment in Howard Hughes came at a pretty premium. The investor’s hedge fund paid $110 per share for HHH stock, which was 48% higher than the stock’s closing price on Friday. While that may seem like a steep price, it does come with benefits for Pershing Square. These include a quarterly $3.75 million base fee and a quarterly management fee that will be determined by the company’s market capitalization.

HHH Stock Soars on Pershing Square Investment

Howard Hughes stock rallied 3.9% on Monday morning following news of Ackman’s investment in the company. That helps the real estate firm on its road to recovery in 2025, but shares are still down 8.67% year-to-date.

The HHH stock surge came with increased trading volume today. That saw more than 648,000 shares change hands as of this writing, compared to a three-month daily average of about 284,520 units.

Is HHH Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for Howard Hughes is Strong Buy, based on three Buy ratings over the last three months. With that comes an average price target of $90.67, representing a potential 29.2% upside for HHH stock.

See more HHH stock analyst ratings