Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.16, read 2026-10-24
Ethical does not pass the values gate
Price70.19 USD
Fair value68.94
Ethical score70.0/100
Our investment reviews on this name
2026-07-02Read Markup66.86+5.0% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Howard Hughes Holdings Inc. holds its Markup at $70.19. Elevated stress, defensive posture warranted, held for 1 days.
As held on the ledger · 2026-10-23
Phase
Markup
Quantitative state
Elevated stress, defensive posture warranted, held for 1 days
Price at the screen
$70.19
Valuation
13.99 trailing · 20.15 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.14
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
48.07%
Below 33%
Interest-bearing debt is 48.1% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
14.77%
Below 49%
Money owed to the company is 14.8% of assets, under the 49% limit.
Pass
Revenue purity
3.19%
Below 5%
Only 3.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Howard Hughes's business is in a permissible area, but its interest-bearing debt is about 48% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when HHH's ethical verdict changes
Today HHH does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. The price runs 0.2% above the base estimate.
Third-party analyst targets: 3 covering, consensus Buy. The average target sits +18% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Master Planned Communities Priced Well Beyond Reach
Picture a developer stitching together suburbs from raw land, selling plots and building offices in cycles that stretch years. Howard Hughes Holdings turns that into a business across three segments, yet the shares sit 26% above our fair value with a forward P/E of 68.9 times. Revenue growth of 18% sounds lively, but it arrives with an 8% profit margin and 4% return on equity that hardly justify the premium.
We pass because the market already bakes in strong execution while the balance sheet and returns do not. Analyst targets at 95 dollars ignore how real estate development lurches with interest rates and buyer demand. The ethical screen clears, yet that alone does not turn an expensive valuation into an attractive one.
Real estate cycles can flatten earnings quickly and leave capital tied up for years. Currency or regional shocks add further pressure on cash flows that already look thin. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HHH trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-25Markup$69.11-4.7%Entry 8
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 4.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (3 analysts) rates it none, with a mean price target of $90. Since the last review it entered the Titan Ethical 500; its composite score rose.
2026-10-18Markup$72.49+10.5%Entry 7
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 10.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (3 analysts) rates it none, with a mean price target of $90.
2026-10-02Markup$65.60-0.1%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (3 analysts) rates it none, with a mean price target of $90.
2026-08-31Markup$65.66-6.6%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 6.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (3 analysts) rates it none, with a mean price target of $90.
2026-08-01Markup$70.32+5.2%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (3 analysts) rates it none, with a mean price target of $90.
2026-07-18Markup$66.86+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (3 analysts) rates it none, with a mean price target of $90.
2026-07-03Markup$66.86+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$66.86Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
