Hudson Pacific Properties Inc (NYSE:HPP) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 8,120,000 shares, a growth of 66.1% from the June 15th total of 4,890,000 shares. Based on an average daily volume of 2,700,000 shares, the short-interest ratio is currently 3.0 days. Approximately 5.4% of the company’s shares are short sold.
HPP has been the subject of a number of research analyst reports. Zacks Investment Research lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group assumed coverage on Hudson Pacific Properties in a research report on Thursday, April 16th. They set a “hold” rating for the company. Citigroup decreased their target price on Hudson Pacific Properties from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Morgan Stanley lowered Hudson Pacific Properties from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $27.00 to $24.00 in a research report on Wednesday, June 24th. Finally, Mizuho decreased their target price on Hudson Pacific Properties from $42.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Hudson Pacific Properties has an average rating of “Hold” and an average target price of $34.50.
Shares of NYSE:HPP traded up $0.03 on Friday, reaching $25.32. The company had a trading volume of 1,178,018 shares, compared to its average volume of 1,904,951. Hudson Pacific Properties has a 52-week low of $16.14 and a 52-week high of $38.81. The firm’s 50 day simple moving average is $24.78 and its 200-day simple moving average is $29.28. The firm has a market capitalization of $3.88 billion, a PE ratio of 42.20, a PEG ratio of 1.85 and a beta of 0.78. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.02.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Hudson Pacific Properties had a return on equity of 2.51% and a net margin of 11.22%. The business had revenue of $206.23 million for the quarter, compared to the consensus estimate of $214.46 million. During the same period last year, the business posted $0.49 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Hudson Pacific Properties will post 2.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Friday, June 19th were issued a $0.25 dividend. The ex-dividend date was Thursday, June 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.95%. Hudson Pacific Properties’s dividend payout ratio is presently 49.26%.
In other Hudson Pacific Properties news, Director Robert Matthew Jr. Moran purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $23.14 per share, with a total value of $231,400.00. Following the purchase, the director now owns 44,392 shares of the company’s stock, valued at $1,027,230.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry Alan Porter purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $20.60 per share, with a total value of $103,000.00. Following the completion of the purchase, the director now directly owns 89,690 shares in the company, valued at approximately $1,847,614. The disclosure for this purchase can be found here. 2.37% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the company. Cohen & Steers Inc. increased its holdings in shares of Hudson Pacific Properties by 1.0% in the 4th quarter. Cohen & Steers Inc. now owns 19,062,295 shares of the real estate investment trust’s stock valued at $717,695,000 after acquiring an additional 188,470 shares during the period. BlackRock Inc. grew its stake in Hudson Pacific Properties by 3.6% during the 1st quarter. BlackRock Inc. now owns 12,214,413 shares of the real estate investment trust’s stock worth $309,759,000 after buying an additional 424,865 shares during the last quarter. Invesco Ltd. grew its stake in Hudson Pacific Properties by 21.2% during the 1st quarter. Invesco Ltd. now owns 11,346,621 shares of the real estate investment trust’s stock worth $287,749,000 after buying an additional 1,986,106 shares during the last quarter. State Street Corp grew its stake in Hudson Pacific Properties by 2.2% during the 1st quarter. State Street Corp now owns 5,814,440 shares of the real estate investment trust’s stock worth $147,454,000 after buying an additional 123,421 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Hudson Pacific Properties by 2.3% during the 4th quarter. Nuveen Asset Management LLC now owns 3,497,475 shares of the real estate investment trust’s stock worth $131,680,000 after buying an additional 77,219 shares during the last quarter.
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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