I bought a new stock last week, and added a little more this week – Howard Hughes Corp (HHC). They’re a real estate development/management company that targets properties in higher-end areas like New York City, Honolulu, Houston and Las Vegas. The company has evolved over time from an initial master planned community purchased by Howard Hughes himself in the 1950’s. They were acquired by General Growth Properties, Inc. in 2004 and then spun-off as an IPO in 2010.
I’m very impressed with their track record, management team and current projects in development. Check out their letter to shareholders from earlier this year for an overview of their properties in development. If management is able to execute on these properties like projects in the past, we’ll see years of very nice growth. The board has also made it clear that the company’s goal is to deliver value to shareholders through appreciation of the stock price. This one is definitely on my shopping list to buy more if the market slips.
HHC – 1 year
Sugar has been sliding the past few weeks so I’m just starting to build a position. It’s looking like the big pop in Sept/Oct may have been the signal that we begin to see supply constraints in 2014.
Sugar – 1 year
Have a great weekend!
-Nick