Hudson Pacific Properties Inc (NYSE:HPP) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 1,310,000 shares, a decline of 7.7% from the December 15th total of 1,420,000 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 734,300 shares, the days-to-cover ratio is presently 1.8 days.
In other news, EVP Sanford Dale Shimoda sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.52, for a total value of $177,600.00. Following the transaction, the executive vice president now directly owns 93,971 shares of the company’s stock, valued at approximately $3,337,849.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.95% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Hudson Pacific Properties by 245.0% in the fourth quarter. State of Alaska Department of Revenue now owns 43,268 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 30,726 shares during the last quarter. Millennium Management LLC raised its stake in shares of Hudson Pacific Properties by 62.3% in the third quarter. Millennium Management LLC now owns 790,471 shares of the real estate investment trust’s stock worth $26,449,000 after purchasing an additional 303,453 shares during the last quarter. Man Group plc raised its stake in shares of Hudson Pacific Properties by 186.5% in the third quarter. Man Group plc now owns 89,100 shares of the real estate investment trust’s stock worth $2,981,000 after purchasing an additional 58,000 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Hudson Pacific Properties by 20.6% in the third quarter. Squarepoint Ops LLC now owns 110,590 shares of the real estate investment trust’s stock worth $3,700,000 after purchasing an additional 18,923 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its stake in shares of Hudson Pacific Properties by 145.5% in the third quarter. Voloridge Investment Management LLC now owns 43,967 shares of the real estate investment trust’s stock worth $1,471,000 after purchasing an additional 26,060 shares during the last quarter.
HPP has been the topic of a number of recent analyst reports. ValuEngine downgraded Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Goldman Sachs Group initiated coverage on Hudson Pacific Properties in a research note on Friday, November 8th. They issued a “buy” rating and a $41.00 price objective on the stock. Mizuho raised Hudson Pacific Properties from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Wednesday. Morgan Stanley upped their price target on Hudson Pacific Properties from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, BTIG Research set a $40.00 price target on Hudson Pacific Properties and gave the stock a “buy” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $40.57.
HPP stock opened at $36.66 on Friday. The stock’s 50 day simple moving average is $36.35 and its 200 day simple moving average is $34.77. Hudson Pacific Properties has a fifty-two week low of $30.02 and a fifty-two week high of $37.90. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $5.55 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Hudson Pacific Properties had a return on equity of 1.27% and a net margin of 5.94%. The firm had revenue of $208.20 million for the quarter, compared to analyst estimates of $204.82 million. During the same period last year, the company posted $0.47 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts predict that Hudson Pacific Properties will post 2.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, December 19th. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently 53.76%.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.
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