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Ackman pitches Howard Hughes, citing management and real estate locations
May 8, 2017 / 6:17 PM / 6 months ago

Ackman pitches Howard Hughes, citing management and real estate locations

NEW YORK, May 8 (Reuters) - Billionaire investor William Ackman discussed real estate development company Howard Hughes Corp at the Sohn Investment Conference on Monday, citing its strong management and desirable locations as reasons why it should become more valuable over time.

Ackman’s $11 billion Pershing Square Capital Management owns 8.85 percent of Howard Hughes and ranks as its biggest shareholder. Ackman serves on the company’s board.

Ackman has held shares in the company, which own Manhattan’s South Street Seaport, the Woodlands in Houston, Texas and Summerlin in Las Vegas, for years. (Reporting by Svea Herbst-Bayliss and Lawrence Delevingne; Editing by Meredith Mazzilli)

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