Hudson Pacific Properties’ (HPP) “Positive” Rating Reaffirmed at Bank of America Corp.
Hudson Pacific Properties Inc. (NYSE:HPP)‘s stock had its “positive” rating reissued by Bank of America Corp. in a note issued to investors on Thursday.
A number of other analysts also recently commented on HPP. Robert W. Baird started coverage on shares of Hudson Pacific Properties in a report on Thursday, June 30th. They issued an “outperform” rating and a $38.00 target price on the stock. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, July 5th. Barclays PLC lifted their target price on shares of Hudson Pacific Properties from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 19th. Mizuho raised shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, July 22nd. Finally, DA Davidson lifted their target price on shares of Hudson Pacific Properties from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.00.
Hudson Pacific Properties (NYSE:HPP) opened at 32.67 on Thursday. The stock has a 50 day moving average of $33.13 and a 200-day moving average of $30.25. Hudson Pacific Properties has a 52 week low of $22.77 and a 52 week high of $34.38. The stock’s market cap is $3.11 billion.
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Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Thursday, August 4th. The real estate investment trust reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Hudson Pacific Properties had a net margin of 0.92% and a return on equity of 0.15%. The business had revenue of $154.30 million for the quarter, compared to the consensus estimate of $151.59 million. Analysts forecast that Hudson Pacific Properties will post $1.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Tuesday, September 20th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, September 16th. Hudson Pacific Properties’s payout ratio is presently -1,142.69%.
In related news, Director Richard B. Fried sold 804,627 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $30.32, for a total transaction of $24,396,290.64. Following the transaction, the director now directly owns 20,559 shares of the company’s stock, valued at $623,348.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in HPP. Royal Bank of Canada increased its position in shares of Hudson Pacific Properties by 1,050.5% in the second quarter. Royal Bank of Canada now owns 21,676 shares of the real estate investment trust’s stock worth $632,000 after buying an additional 19,792 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Hudson Pacific Properties during the second quarter valued at approximately $2,750,000. Sterling Capital Management LLC increased its stake in Hudson Pacific Properties by 40.5% in the second quarter. Sterling Capital Management LLC now owns 104,000 shares of the real estate investment trust’s stock valued at $3,035,000 after buying an additional 30,000 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Hudson Pacific Properties by 190.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 716,356 shares of the real estate investment trust’s stock valued at $20,904,000 after buying an additional 469,695 shares in the last quarter. Finally, Amalgamated Bank increased its stake in Hudson Pacific Properties by 24.0% in the second quarter. Amalgamated Bank now owns 9,903 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 1,915 shares in the last quarter. 86.72% of the stock is currently owned by hedge funds and other institutional investors.
Hudson Pacific Properties Company Profile
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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