Hudson Pacific Properties Inc (NYSE:HPP) has been assigned a consensus rating of “Buy” from the eleven analysts that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.00.
A number of brokerages have issued reports on HPP. Zacks Investment Research raised Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Wednesday, July 18th. Mizuho reaffirmed a “hold” rating and set a $34.00 price target on shares of Hudson Pacific Properties in a research note on Monday, August 6th. TheStreet lowered Hudson Pacific Properties from a “b” rating to a “c+” rating in a research note on Wednesday, August 8th. Finally, Robert W. Baird lowered Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Tuesday, August 21st.
NYSE HPP traded down $0.12 on Wednesday, reaching $30.63. 997,862 shares of the stock traded hands, compared to its average volume of 893,818. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $5.13 billion, a P/E ratio of 15.39, a PEG ratio of 3.16 and a beta of 0.63. Hudson Pacific Properties has a 12 month low of $28.25 and a 12 month high of $36.06.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.37). The firm had revenue of $175.17 million for the quarter, compared to the consensus estimate of $173.98 million. Hudson Pacific Properties had a net margin of 15.29% and a return on equity of 2.76%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. On average, research analysts predict that Hudson Pacific Properties will post 1.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Tuesday, September 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.26%. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 50.25%.
In other news, EVP Christopher James Barton sold 20,166 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $33.02, for a total transaction of $665,881.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Glaser acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were bought at an average price of $32.97 per share, with a total value of $197,820.00. The disclosure for this purchase can be found here. 1.93% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in HPP. Vident Investment Advisory LLC lifted its holdings in shares of Hudson Pacific Properties by 241.7% in the second quarter. Vident Investment Advisory LLC now owns 24,354 shares of the real estate investment trust’s stock valued at $863,000 after purchasing an additional 17,226 shares in the last quarter. Paloma Partners Management Co lifted its holdings in shares of Hudson Pacific Properties by 271.6% in the second quarter. Paloma Partners Management Co now owns 43,494 shares of the real estate investment trust’s stock valued at $1,541,000 after purchasing an additional 31,788 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Hudson Pacific Properties by 133.7% in the second quarter. Macquarie Group Ltd. now owns 368,226 shares of the real estate investment trust’s stock valued at $13,047,000 after purchasing an additional 210,651 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Hudson Pacific Properties by 103.3% in the second quarter. Cubist Systematic Strategies LLC now owns 55,053 shares of the real estate investment trust’s stock valued at $1,951,000 after purchasing an additional 27,969 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Hudson Pacific Properties in the second quarter valued at $308,000.
About Hudson Pacific Properties
Hudson Pacific Properties is a vertically integrated real estate Company focused on acquiring, repositioning, developing and operating high-quality office and state-of-the-art studio properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create value.
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