BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

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Howard Hughes Corp. (HHC) second quarter 2021 results marked another step towards recovery from the impacts of the COVID-19. Land sales in master planned communities (“MPC”), coupled with recovery in operating asset net operating income (“NOI”), and continued demand growth for condos in Ward Village, contributed to positive funds from operations (“FFO”).</li></ul> <ul type="disc"><li>HHC reported second quarter revenue of $212.5 million driven by year over year higher revenue across all segments. The MPC segment benefited from the sale of 3 “superpad” sites in Summerlin, while operating assets benefited from higher rental recoveries in the retail portfolio and operating assets that have returned to operations.</li></ul> <ul type="disc"><li>Ward Village in Hawaii is beginning to gain momentum in becoming a consistent revenue and profit driver for HHC. Demand for condos has not abated as HHC has pre-sold and collected deposits on 86 percent of the 1,664 units under development.</li></ul> <ul type="disc"><li>The rebound in the economy and growth in HHC’s MPC should result in HHC generating greater FFO in coming quarters. We do not believe the shares are fully reflecting the increase in business activity in each of the MPCs and how HHC generates FFO.</li></ul>


Howard Hughes Corp. (HHC) second quarter 2021 results marked another step towards recovery from the impacts of the COVID-19. Land sales in master planned communities (“MPC”), coupled with recovery in operating asset net operating income (“NOI”), and continued demand growth for condos in Ward Village, contributed to positive funds from operations (“FFO”). HHC reported second quarter revenue of $212.5 million driven by year over year higher revenue across all segments. The MPC segment benefited from the sale of 3 “superpad” sites in Summerlin, while operating assets benefited from higher rental recoveries in the retail portfolio and operating assets that have returned to operations. Ward Village in Hawaii is beginning to gain momentum in becoming a consistent revenue and profit driver for HHC. Demand for condos has not abated as HHC has pre-sold and collected deposits on 86 percent of the 1,664 units under development. The rebound in the economy and growth in HHC’s MPC should result in HHC generating greater FFO in coming quarters. We do not believe the shares are fully reflecting the increase in business activity in each of the MPCs and how HHC generates FFO.

Howard Hughes /

HHC: Recovering and Building FFO