HHH - One of the Top Billionaire Investors Owns 37% of This Real Estate Company - and I Can't Believe It's This Cheap
2024-04-21 07:37:00 ET
Billionaire investor Bill Ackman is best known for his large stakes in companies like Chipotle (NYSE: CMG) and Restaurant Brands International (NYSE: QSR) , but there's one stock in the portfolio of Ackman's Pershing Square hedge fund that could be the most interesting investment of all.
I'm talking about Howard Hughes Holdings (NYSE: HHH) , which is one of the most unique real estate companies in the market. Pershing Square owns about 18.8 million shares worth $1.6 billion at the current price, which gives Ackman and his investors a 37% stake in Howard Hughes.
Since this company isn't exactly a household name, here's a quick overview of what it does, some of the reasons why Ackman might like it so much, and what to keep in mind if you decide to invest.
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One of the Top Billionaire Investors Owns 37% of This Real Estate Company – and I Can't Believe It's This Cheap