Hudson Pacific Properties Inc. (HPP) Given Positive Rating at Bank of America Corp.
Hudson Pacific Properties Inc. (NYSE:HPP)‘s stock had its “positive” rating reissued by equities research analysts at Bank of America Corp. in a research note issued on Thursday.
A number of other brokerages have also recently commented on HPP. Zacks Investment Research raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Tuesday, August 2nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Hudson Pacific Properties in a report on Friday, August 26th. Barclays PLC lifted their target price on shares of Hudson Pacific Properties from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, July 19th. Mizuho lifted their target price on shares of Hudson Pacific Properties from $37.00 to $38.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, DA Davidson lifted their target price on shares of Hudson Pacific Properties from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $36.00.
Shares of 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 1-year low of $22.77 and a 1-year high of $34.38. The firm’s market cap is $3.11 billion.
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Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Thursday, August 4th. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $154.30 million for the quarter, compared to analysts’ expectations of $151.59 million. Hudson Pacific Properties had a net margin of 0.92% and a return on equity of 0.15%. Equities analysts anticipate that Hudson Pacific Properties will post $1.76 EPS for the current fiscal year.
The business 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 dividend of $0.20 per share. The ex-dividend date is Friday, September 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.45%. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently -1,142.69%.
In other news, Director Richard B. Fried sold 804,627 shares of the company’s stock in a transaction 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 approximately $623,348.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.35% of the company’s stock.
Several institutional investors have recently bought and sold shares of HPP. 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 worth $112,000 after buying an additional 54 shares during the period. Bank of Montreal Can bought a new position in Hudson Pacific Properties during the second quarter worth $195,000. M&T Bank Corp bought a new position in Hudson Pacific Properties during the second quarter worth $213,000. Societe Generale bought a new position in Hudson Pacific Properties during the second quarter worth $227,000. Finally, Stevens Capital Management LP bought a new position in Hudson Pacific Properties during the second quarter worth $280,000. 86.72% of the stock is currently owned by institutional investors and hedge funds.
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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