Latest news with #realEstate
Yahoo
6 hours ago
- Business
- Yahoo
Billionaire Bill Ackman Has 51% of His Hedge Fund's $13.6 Billion Portfolio Invested in Just 3 Stocks
Bill Ackman's Pershing Square struck a deal to transform Howard Hughes into a diversified holding company for investments. Public filings reveal Ackman's top stock picks for his hedge fund, Pershing Square Capital. Ackman recently added to all three of these stocks, so there's still time to buy. 10 stocks we like better than Brookfield Corporation › Bill Ackman probably wouldn't mind being mentioned in the same breath as Warren Buffett. In fact, a recent deal between his Pershing Square fund and Howard Hughes Holdings (NYSE: HHH) aims to transform the real estate business into a diversified holding company much like that of Buffett's Berkshire Hathaway. Investors looking to take advantage of Ackman's investment acumen might consider buying a stake in the company. But it will take a long time for the billionaire's vision for Howard Hughes to play out. Investors who want to follow his best ideas right now can follow along with Pershing Square's quarterly filings with the Securities and Exchange Commission (SEC), which disclose all of the hedge fund's $13.6 billion equity holdings, of which more than half is in the following three stocks. Uber Technologies (NYSE: UBER) is a new addition to Pershing Square's portfolio. Ackman and his team invested roughly $2.3 billion in Uber at the start of 2025. Those shares are now worth roughly $2.6 billion, making it the biggest holding in the portfolio. Ackman believes the fears that the rise of autonomous vehicles will push down the value of Uber are misplaced. Uber benefits from a considerable network effect with more than 170 million users connecting with millions of drivers for rides and deliveries. That network is extremely valuable to autonomous vehicle companies, making Uber a natural partner. Partnering with Uber allows self-driving car companies to grow faster and increase the utilization of their vehicles, helping them maximize their revenue. To be sure, autonomous vehicle ubiquity is still a long ways away. In the meantime, Uber continues to produce strong financial results, exhibiting significant operating leverage as it scales. Earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 35% last quarter on the back of a 14% increase in gross bookings. The company forecast similar growth for the second quarter as well. Uber's also showing strong growth in free cash flow, or what's left of cash flow after capital spending. It produced $2.3 billion in free cash flow last quarter, up 66% year over year. At last year's investor day, management said it aims to convert more than 90% of EBITDA into free cash flow over the next three years. Despite the strong growth outlook, Uber's stock still trades at a good value. Even after some price appreciation since Ackman's purchase, Uber trades for an enterprise value-to-EBITDA ratio of about 25. That's a great price for a company that is increasing EBITDA at about 30% per year. Brookfield (NYSE: BN) is a diversified alternative asset management company with investments across real estate, renewable energy, and infrastructure. Pershing Square first established a position in the Canadian company in 2024, and it's consistently added since. It added another 6.1 million shares in the first quarter, pushing its total investment value to about $2.4 billion today. The corporate structure of Brookfield is unique, with several publicly traded spin-offs and subsidiaries. For example, Brookfield Asset Management (NYSE: BAM) is Brookfield's core holding and the main investment arm. It owns 73% of BAM's shares while the rest is publicly traded. Other publicly traded Brookfield assets include Brookfield Infrastructure and Brookfield Renewable, which also trades as a partnership. The structure is designed to give investors flexibility and maximize the value of its assets. On top of its subsidiaries, Brookfield also includes some separate real estate holdings and an annuities business. The investments are performing well. Distributable earnings increased 27% year over year in the first quarter thanks in part to divesting a money-losing road fuels business. Management said it expects to boost cash flow at a 20%-plus annual rate through 2029 at last year's investor meeting, giving it an additional $47 billion to allocate to new investments and return to shareholders. Ackman points out that nearly all of Brookfield's market cap is accounted for by its public equity holdings. That means investors can get access to its annuity business and its private investments for an extremely low price. The shares currently trade for just 13.8 times its trailing distributable earnings. Ackman suggests a multiple of 16 should be the floor for Brookfield's value and management thinks it should be worth about 18 times distributable earnings. As such, it looks like a bargain at its current price. Howard Hughes Holdings is a real estate company specializing in master-planned communities. Ackman invested in the company in 2023, attracted to its high-quality assets amid the nation's housing shortage. As mentioned, Pershing Square recently struck a deal with Howard Hughes to acquire 9 million newly issued shares. That gives it a 47% stake in the business worth about $1.9 billion as of this writing. Howard Hughes' core holdings offer a lot of promise. Management estimates the value of its assets at $5.9 billion, which means the $4 billion stock trades for a discount. It's generating modest net operating income growth, with expectations for it to come in as much as 4% higher in 2025. Long-term, management sees net operating income climbing another 37% from 2024 levels based on existing projects. Management has historically used the free cash flow generated by its real estate business to pay down debt, invest in new projects, and repurchase shares. Ackman plans to use the cash to diversify the business. He said one of his first moves will be to add an insurance business either by building it from the ground up or via acquisition. Insurance will provide funds for investment through float -- premiums collected from policy holders before claims are paid out -- which is basically cheap capital for Ackman to invest. It's the same way Buffett transformed Berkshire Hathaway from a textile producer into a diversified holding company. The new structure of the company comes with some drawbacks. Namely, there's the $3.75 million quarterly fee paid to Pershing Square in addition to a 0.375% incentive fee for increasing the value of the business. However, it could provide investors with a way to invest directly in Ackman's best ideas. Considering the stock trades below management's conservative estimate for its net asset value, it may be worth adding for investors hoping Ackman can emulate Buffett's success. Before you buy stock in Brookfield Corporation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Brookfield Corporation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Adam Levy has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Berkshire Hathaway, Brookfield, Brookfield Corporation, Howard Hughes, Nike, and Uber Technologies. The Motley Fool recommends Brookfield Infrastructure Partners, Brookfield Renewable, and Brookfield Renewable Partners. The Motley Fool has a disclosure policy. Billionaire Bill Ackman Has 51% of His Hedge Fund's $13.6 Billion Portfolio Invested in Just 3 Stocks was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
6 hours ago
- Business
- Daily Mail
Selling your home? Don't forget to stage your GARDEN: From a neat trick with paint to whether metal or wood is better, how to add value for less
If you're poised to put your home on the market, you're likely to have given it a declutter and deep clean, as well as refreshed any tired paintwork. But you may not have given the garden as much attention as you should –which experts say is a big mistake.
Arabian Business
6 hours ago
- Business
- Arabian Business
Dubai real estate market stabilising; investors confident in long-term growth
The Dubai real estate market is entering a healthy 'stabilisation phase' and investors are confident in long-term projects, according to brokerage and developer Asico. Following a period of remarkable growth where residential property prices surged by approximately 60 per cent between 2022 and early 2025, driven by strong international investor interest, the market is now entering a phase of stabilisation in 2025, said Asico. This transition indicates a move towards a more balanced and sustainable trajectory. Dubai real estate stabilisation phase Several key indicators point towards this stabilisation: Price adjustments: As of January 2025, the average price per square foot stood at AED1,484 ($404), reflecting a slight 0.57 per cent month-on-month dip, indicating a cooling from the rapid escalation witnessed in previous years Shift in demand: While luxury properties continue to attract interest, there's a noticeable shift towards mid-market and affordable housing. In 2024, two out of five ready home sales were valued at less than AED1m ($272,000), highlighting a broader market appeal and a move towards more sustainable growth Supply dynamics: Developers are responding to the evolving market by accelerating construction schedules, aiming to bring handovers forward by three to six months. This proactive approach is designed to meet the current demand and prevent potential shortages, contributing to market equilibrium Wail Abualhamail, Director of Real Estate at Asico, said: 'The current phase of stabilisation reflects the natural progression of a maturing market. We are seeing a shift from speculative buying towards more strategic, long-term investments. At Asico, we believe this evolution is a healthy sign, indicating investor confidence, improved regulation, and a more sustainable future for Dubai's real estate sector.' Despite the stabilisation, Dubai's real estate market continues to exhibit robust performance. In February 2025, the market recorded a 32 per cent increase in transaction volume and a 37 per cent rise in value compared to the same period in 2024, totalling more than AED50bn ($13.6bn). The off-plan market remains a significant driver of this activity, with a 38 per cent increase in volume and a 60 per cent increase in value year-over-year. Key areas such as Dubai Creek Harbour, Mohammed Bin Rashid City, and Dubai Hills have been particularly popular for off-plan investments. The Dubai government's ongoing strategic initiatives are also playing a crucial role in bolstering the real estate sector. The Dubai Economic Agenda (D33), which aims to double the emirate's economy by 2033, specifically focuses on enhancing the contribution of the real estate sector. Furthermore, policies such as the Golden Visa programme and the provision for 100 per cent foreign ownership in certain sectors have further strengthened investor confidence in the market. Asico said: 'As the market enters this phase of stabilisation, investors are presented with opportunities to make informed decisions in a more predictable environment'. The increasing focus on mid-market properties opens avenues for a broader range of investments, while the sustained overall demand underscores the market's long-term strength. According to Asico, this stabilisation period signifies a maturing of Dubai's property sector, where factors such as quality, thoughtful planning, and strategic location are expected to be the primary drivers of long-term returns, moving away from reliance on short-term speculation.
Yahoo
12 hours ago
- General
- Yahoo
Converted Shooters Hill water tower with 360° views on sale for £1.5million
A former Victorian water tower on Shooters Hill, now converted into a nine-storey family home, is on the market with a guide price of £1,500,000. Located on Edith Cavell Way in SE18, the property is being marketed by Tanya Baker & Co and features five bedrooms, three bathrooms, and two reception rooms. The estate agent describes the property as "a truly remarkable family home" and highlights the "360° panoramic views from the top floor observation deck". Shooters Hill landmark offers 360° views and industrial charm in SE18 (Image: Tanya Baker & Co/ Zoopla) Originally built in the 1890s to serve the nearby Brook Fever Hospital, the water tower stands at around 40 metres, or approximately 130 feet. According to the estate agent, the building has been "painstakingly transformed into an extraordinary residence" while preserving its original Victorian charm. The brickwork has been cleaned and damaged terracotta mouldings have been rebuilt. £1.5m Shooters Hill home blends Victorian structure with modern design (Image: Tanya Baker & Co/ Zoopla) Arrow-slit windows remain a feature, and a hydraulic lift provides access to all floors, including the observation deck at the top. The estate agent says the tower was once topped with a lead-lined cast-iron tank, but this has been replaced by a glass viewing deck. The deck features a glass-walled sitting room and a wraparound balcony, which the agent says offers "breathtaking 360-degree views of London". Converted water tower features glass pavilion, lift, and wraparound balcony (Image: Tanya Baker & Co/ Zoopla) The property's layout includes a room on each of the tower's seven floors, allowing for flexible use. The current arrangement, as described by the estate agent, places bedrooms on the third, fourth, and sixth floors, with a bathroom on the fifth, a kitchen on the seventh, and a boiler room on the eighth. The top floor is dedicated to the observation deck. Glass bridge links light-filled pavilion to quirky nine-floor tower (Image: Tanya Baker & Co/ Zoopla) The agent notes that the room-stacking design is "reminiscent of the tower's industrial past" and adds to the "quirky and unique character" of the home. At the base of the tower is a two-storey pavilion constructed from glass and steel. The pavilion's ground floor has an open-plan layout, with a kitchen and a living/dining space that is described as "light-filled". Upstairs, there are two double bedrooms—one with a four-piece ensuite bathroom—a separate shower room, and a utility room. Converted tower home features five bedrooms across multiple levels (Image: Tanya Baker & Co/ Zoopla) A covered bridge connects the pavilion to the main tower, creating what the estate agent calls a "remarkable transition between the old and the new". Gated parking is available at the rear of the property, leading onto landscaped gardens that wrap around the building. The estate agent says the home "looks out over Woolwich Common and as a result, feels almost rural", despite its urban location. Transport links are described by the agent as "very well connected", with the DLR from Woolwich Arsenal providing access to Canary Wharf and Bank. The new Elizabeth Line from Woolwich offers routes to Liverpool Street, Paddington, and Bond Street. The area's position between Greenwich, Woolwich, and Blackheath means there are independent shops and various places to eat nearby. The property has attracted media attention and, according to the estate agent, has been featured in TV shows and publications such as The Architects Journal, Building Design, The Evening Standard, Time Out, and The Times. The estate agent describes the home as "a left-field choice" and suggests that a "head for heights" is needed to enjoy the observation deck. The property is offered as a freehold, with an EPC rating of D. Interested parties are invited to arrange a private viewing through Tanya Baker & Co.
News.com.au
a day ago
- Business
- News.com.au
Darwin homes cheaper than in 2010
Darwin homebuyers are paying less for real estate than they were 15 years ago in all but one suburb once median property prices are adjusted for inflation. PropTrack's generational study converted past median house prices into today's dollars and found Darwin buyers were paying up to 31 per cent less for houses than they were in 2010, and up to 54 per cent less for units. Stuart Park was the only suburb where buyers were paying more today when looking at the adjusted values, with the median house price up 13 per cent from $786,700 (adjusted for inflation) to $891,000. In Gunn, buyers are paying 31 per cent less than in 2010, with the suburb recording a current average house price of $522,500 compared to a corrected price of $762,400 15 years ago. In Wagaman the difference was $228,500 or 31 per cent, while in Lyons it was $205,700 or 21 per cent. In the unit market, the adjusted median price in Driver was 54 per cent higher in 2010 compared to 2025. In Darwin City, the 2010 median unit price of $575,000 – equal to $797,100 today – dropped 52 per cent to a median of $380,000. While in Larrakeyah, the drop from the adjusted 2010 prices was 48 per cent, from $686,200 to $360,000. Is this the NT's best shower view? Home price surges predicted for NT Real Estate Central director, Michael Van De Graaf said in 2010 the Darwin property market was between two peaks influenced by major projects. 'The market took off in about 2003 with the Bechtel gas project,' he said. 'We had a bit of a downturn around about 2010 and then the market picked up again with the announcement of the Inpex project. 'We had so much work up here, but the problem was we then had strong population growth and accommodation was hard to find, so rents went through the roof. 'Initially we saw a lot of interstate investors in the market and then the local mum and dad investors. 'I'd say 2014 was the top of the market – 2010 was much more affordable than 2014.' Mr Van De Graaf said currently Darwin was the most affordable capital city in the country, with strong returns and potential for solid capital growth once again attracting investors. 'Darwin is certainly a market on the tipping point, if not already past it,' he said. 'What we're seeing now is a lot of interstate investors around that median price range. 'We're selling around about 50 per cent of properties to investors … and supply is starting to dwindle.' The PropTrack generational study also showed today's Darwin homebuyers were paying far more than those from 2000. The median house price in Bakewell 25 years ago was $53,250. Corrected for inflation, that is $97,000. Today, buyers in Bakewell are paying 400 per cent more, with the average cost of a house sitting at $485,000. In Virginia, the difference between the adjusted 2000 median house price and the current median house price was 375 per cent, while in Gunn it was 345 per cent and in Humpty Doo it was 148 per cent. PropTrack economist Angus Moore said the rapid growth in home prices since the 1990s was linked to lower interest rates during that time. The cash rate in 1990 was 17 per cent but had dropped to 6.25 per cent by the end of 2000 and 4.25 per cent by the end of 2001. Mr Moore said lower interest rates allowed for larger loans. 'When interest rates are lower, people can afford to service a larger mortgage, which then creates greater competition in the housing market and that has allowed home prices to rise much faster than wages,' he said. The Reserve Bank of Australia this month cut 25 basis points from the official cash rate to 3.85 per cent. Mr Moore said while this gave buyers a boost in borrowing power, it did not offset the growing cost of saving for a deposit. 'The deposit hurdle is just unequivocally harder than it was four or five decades ago, and that has manifested in home ownership rates which have fallen over those years,' he said. Mr Moore said young people were taking longer to enter the market, relying more on family support, or accessing government incentives to buy with a smaller deposit. 'Most first-homebuyers don't have a 20 per cent deposit available,' he said. DARWIN PROPERTY PRICES – 2010 VS 2025 HOUSES Suburb Median price 2010 Adjusted to today's $ 2025 median price Difference Gunn $550,000 $762,400 $522,500 -31% Wagaman $540,000 $748,500 $520,000 -31% Lyons $707,500 $980,700 $775,000 -21% Anula $540,000 $748,500 $545,000 -27% Karama $483,025 $669,600 $470,000 -30% Leanyer $572,500 $793,600 $598,000 -25% Wulagi $532,500 $738,200 $545,000 -26% Durack $555,500 $770,000 $579,000 -25% Millner $541,750 $751,000 $560,000 -25% Bakewell $486,250 $674,000 $485,000 -28% Woodroffe $460,000 $637,700 $450,000 -29% Farrar $547,500 $758,900 $572,500 -25% Malak $500,017 $693,100 $510,000 -26% Gray $435,000 $603,000 $420,000 -30% Moulden $426,500 $591,200 $425,000 -28% Driver $449,000 $622,400 $460,000 -26% Moil $510,000 $707,000 $547,500 -23% Tiwi $515,000 $713,900 $575,000 -19% Wanguri $535,000 $741,600 $622,500 -16% Jingili $540,000 $748,500 $630,000 -16% Rosebery $500,000 $693,100 $590,000 -15% Howard Springs $590,000 $817,900 $770,000 -6% Rapid Creek $585,000 $810,900 $800,000 -1% Humpty Doo $482,500 $668,800 $660,000 -1% Nightcliff $745,000 $1,032,700 $1,025,000 -1% Stuart Park $567,500 $786,700 $891,000 13% UNITS Suburb Median price 2010 Adjusted to today's $ 2025 median price Difference Driver $385,000 $533,700 $247,500 -54% Darwin City $575,000 $797,100 $380,000 -52% Larrakeyah $495,000 $686,200 $360,000 -48% Bakewell $392,000 $543,400 $289,000 -47% Gray $360,000 $499,000 $272,500 -45% Leanyer $407,500 $564,900 $328,000 -42% Stuart Park $540,000 $748,500 $437,100 -42% Bayview $760,000 $1,053,500 $627,500 -40% Millner $395,000 $547,500 $335,000 -39% Coconut Grove $405,000 $561,400 $370,000 -34% Parap $460,000 $637,700 $435,000 -32% Fannie Bay $480,000 $665,400 $460,000 -31% Rapid Creek $415,000 $575,300 $405,000 -30% Rosebery $395,000 $547,500 $396,000 -28% Nightcliff $303,000 $420,000 $330,000 -21%
