The annual Sohn Investment Conference in New York City brings together Wall Street's top investors and fund managers, as they take the stage to share their views and ideas about investing. Wall Street Journal has called it "The Superbowl of Investing Conferences."
During the most recent conference, held on May 8, 2017, American investor, hedge fund manager, billionaire and philanthropist Bill Ackman took the stage to pitch The Howard Hughes Corporation. Ackman is the founder and CEO of Pershing Square Capital Management and a long-time investor in the company.
Investing website The Motley Fool summarizes Ackman's argument in favor of Howard Hughes. Hughes generates income from real estate sales, operating income for leases, and it reinvests back into the property and improves land values, it brings in new residents, new commercial leases, the demand goes, and as the prices rise, it's a little bit of a virtuous cycle. Ackman's bottom line point was, at about $122 a share for Howard Hughes (which was the price before he made the presentation), he believed an investor was getting essentially the entire business of Howard Hughes, plus, the Seaport District in Manhattan, one of the premiere spots in Manhattan that Hughes also owns. His comments immediately sent shares higher, with the stock trading up about 3.7 percent after he spoke.
"I think this is one of the most attractive times in the history of the company to invest," Ackman said of the company.
Listen to Bill's talk online here: https://13245.wistia.com/medias/03dfqh85lt
And, for more information, visit Howard Hughes' Investor Relations page online here: http://investor.howardhughes.com/phoenix.zhtml?c=241177&p=irol-irhome
Media outlet Architectural Digest recently named Ward Village the "Best-Planned Community," praising the development for its design, materials and location.