Hudson Pacific Properties Inc. (HPP) PT Set at $40.00 by DA Davidson
Hudson Pacific Properties Inc. (NYSE:HPP) has been assigned a $40.00 target price by equities researchers at DA Davidson in a research report issued on Monday. The brokerage presently has a a “buy” rating on the real estate investment trust’s stock. DA Davidson’s target price would indicate a potential upside of 23.76% from the stock’s previous close.
A number of other equities research analysts have also weighed in on HPP. Robert W. Baird started coverage on shares of Hudson Pacific Properties in a research note on Thursday, June 30th. They set an “outperform” rating and a $38.00 target price for the company. Zacks Investment Research raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, July 5th. Barclays PLC boosted their price objective on shares of Hudson Pacific Properties from $36.00 to $38.00 and gave the company 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 price objective for the company in a research report on Friday, July 22nd. Finally, BTIG Research started coverage on shares of Hudson Pacific Properties in a research report on Thursday, August 25th. They set a “buy” rating and a $38.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.80.
Hudson Pacific Properties (NYSE:HPP) traded down 1.55% during midday trading on Monday, reaching $32.32. The company’s stock had a trading volume of 582,974 shares. Hudson Pacific Properties has a one year low of $22.77 and a one year high of $34.38. The firm has a 50 day moving average price of $32.88 and a 200 day moving average price of $30.72. The firm’s market cap is $3.08 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business earned $154.30 million during the quarter, compared to analyst estimates of $151.59 million. Hudson Pacific Properties had a net margin of 0.92% and a return on equity of 0.15%. Equities research analysts forecast that Hudson Pacific Properties will post $1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Friday, September 16th. Hudson Pacific Properties’s dividend payout ratio is currently -1,142.69%.
In related 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 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 approximately $623,348.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 13.35% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Japan Co. Ltd increased its position in shares of 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 in the last quarter. Bank of Montreal Can purchased a new position in shares of Hudson Pacific Properties during the second quarter valued at $195,000. M&T Bank Corp purchased a new position in shares of Hudson Pacific Properties during the second quarter valued at $213,000. Societe Generale purchased a new position in shares of Hudson Pacific Properties during the second quarter valued at $227,000. Finally, Stevens Capital Management LP purchased a new position in shares of Hudson Pacific Properties during the second quarter valued at $280,000. 86.72% of the stock is owned by institutional investors.
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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