Hudson Pacific Properties Inc. (NYSE:HPP) Receives Average Recommendation of “Buy” from Brokerages
Hudson Pacific Properties Inc. (NYSE:HPP) has received a consensus rating of “Buy” from the ten research firms that are covering the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $35.78.
Several research firms recently issued reports on HPP. Robert W. Baird began coverage on Hudson Pacific Properties in a research report on Thursday, June 30th. They set an “outperform” rating and a $38.00 price target on the stock. BTIG Research began coverage on Hudson Pacific Properties in a research report on Thursday, August 25th. They set a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. DA Davidson upped their price target on Hudson Pacific Properties from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Mizuho raised Hudson Pacific Properties from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, July 22nd.
In other news, Director Richard B. Fried sold 804,627 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $30.32, for a total value of $24,396,290.64. Following the completion of the transaction, the director now owns 20,559 shares of the company’s stock, valued at $623,348.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.35% of the stock is owned by insiders.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Japan Co. Ltd boosted its position in Hudson Pacific Properties by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 3,887 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 54 shares during the last quarter. Bank of Montreal Can acquired a new position in Hudson Pacific Properties during the second quarter valued at about $195,000. M&T Bank Corp acquired a new position in Hudson Pacific Properties during the second quarter valued at about $213,000. Societe Generale acquired a new position in Hudson Pacific Properties during the second quarter valued at about $227,000. Finally, Stevens Capital Management LP acquired a new position in Hudson Pacific Properties during the second quarter valued at about $280,000. 86.72% of the stock is owned by institutional investors.
Hudson Pacific Properties (NYSE:HPP) traded down 0.71% during midday trading on Tuesday, reaching $32.00. The company’s stock had a trading volume of 171,839 shares. Hudson Pacific Properties has a 1-year low of $22.77 and a 1-year high of $34.38. The company’s market capitalization is $3.04 billion. The company’s 50-day moving average price is $33.21 and its 200-day moving average price is $30.20.
Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Thursday, August 4th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Hudson Pacific Properties had a return on equity of 0.15% and a net margin of 0.92%. The company had revenue of $154.30 million for the quarter, compared to analyst estimates of $151.59 million. On average, analysts predict that Hudson Pacific Properties will post $1.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th will be paid a $0.20 dividend. The ex-dividend date is Friday, September 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.48%. Hudson Pacific Properties’s payout ratio is -1,142.69%.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.
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