Hudson Pacific Properties Inc. (HPP) PT Set at $40.00 by DA Davidson
Hudson Pacific Properties Inc. (NYSE:HPP) has been given a $40.00 price objective by research analysts at DA Davidson in a research note issued to investors on Monday. The brokerage presently has a a “buy” rating on the real estate investment trust’s stock. DA Davidson’s target price points to a potential upside of 21.84% from the stock’s previous close.
Several other analysts have also recently weighed in on HPP. Robert W. Baird assumed coverage on shares of Hudson Pacific Properties in a research note on Thursday, June 30th. They issued an “outperform” rating and a $38.00 price objective on the stock. Barclays PLC boosted their price objective on shares of Hudson Pacific Properties from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 19th. Zacks Investment Research cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. Bank of America Corp. reissued a “positive” rating on shares of Hudson Pacific Properties in a research note on Thursday, September 22nd. Finally, Mizuho boosted 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $35.80.
Shares of Hudson Pacific Properties (NYSE:HPP) traded down 1.77% during trading on Monday, hitting $32.25. The stock had a trading volume of 346,250 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 $3.07 billion. The firm has a 50-day moving average of $32.88 and a 200 day moving average of $30.72.
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Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $154.30 million for the quarter, compared to analysts’ expectations of $151.59 million. Equities research analysts predict that Hudson Pacific Properties will post $1.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.44%. Hudson Pacific Properties’s dividend payout ratio is currently -1,142.69%.
In other news, Director Richard B. Fried sold 804,627 shares of the company’s stock in a transaction dated 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 owns 20,559 shares in the company, valued at $623,348.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.35% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Japan Co. Ltd raised 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 bought a new position in shares of Hudson Pacific Properties during the second quarter valued at $195,000. M&T Bank Corp bought a new position in shares of Hudson Pacific Properties during the second quarter valued at $213,000. Societe Generale bought a new position in shares of Hudson Pacific Properties during the second quarter valued at $227,000. Finally, Stevens Capital Management LP bought a new position in shares of Hudson Pacific Properties during the second quarter valued at $280,000. Hedge funds and other institutional investors own 86.72% of the company’s stock.
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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