Hudson Pacific Properties, Inc. (HPP) Price Target Raised to $41.00
Hudson Pacific Properties, Inc. (NYSE:HPP) had its target price increased by research analysts at Barclays PLC from $40.00 to $41.00 in a report released on Tuesday. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays PLC’s target price suggests a potential upside of 25.61% from the stock’s previous close.
Separately, BidaskClub upgraded Hudson Pacific Properties from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Hudson Pacific Properties has an average rating of “Buy” and a consensus price target of $38.56.
Shares of Hudson Pacific Properties (NYSE:HPP) traded up 0.383% during midday trading on Tuesday, reaching $32.765. The company had a trading volume of 664,603 shares. The company’s 50 day moving average price is $32.76 and its 200-day moving average price is $34.16. The company has a market capitalization of $5.09 billion, a P/E ratio of 93.082 and a beta of 0.75. Hudson Pacific Properties has a 52 week low of $31.53 and a 52 week high of $36.75.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The company had revenue of $166.85 million for the quarter, compared to the consensus estimate of $175.79 million. During the same quarter in the prior year, the business earned $0.43 EPS. Hudson Pacific Properties’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts predict that Hudson Pacific Properties will post $0.29 earnings per share for the current fiscal year.
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In other Hudson Pacific Properties news, Director Jonathan M. Glaser acquired 15,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $31.78 per share, for a total transaction of $476,700.00. Following the acquisition, the director now owns 132,405 shares in the company, valued at approximately $4,207,830.90. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Harout Krikor Diramerian sold 20,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $34.01, for a total value of $680,200.00. Following the completion of the transaction, the insider now owns 52,876 shares in the company, valued at approximately $1,798,312.76. The disclosure for this sale can be found here. In the last quarter, insiders bought 25,000 shares of company stock worth $797,600 and sold 169,549 shares worth $5,981,459. Corporate insiders own 13.35% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Hudson Pacific Properties by 32.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,494 shares of the real estate investment trust’s stock worth $848,000 after buying an additional 5,966 shares during the last quarter. Wells Fargo & Company MN increased its position in Hudson Pacific Properties by 7.7% in the first quarter. Wells Fargo & Company MN now owns 645,950 shares of the real estate investment trust’s stock worth $22,376,000 after buying an additional 46,251 shares during the last quarter. Exane Derivatives acquired a new position in Hudson Pacific Properties during the first quarter worth approximately $691,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in Hudson Pacific Properties during the first quarter worth approximately $512,000. Finally, DUPONT CAPITAL MANAGEMENT Corp increased its position in Hudson Pacific Properties by 11.1% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 32,257 shares of the real estate investment trust’s stock worth $1,117,000 after buying an additional 3,228 shares during the last quarter.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.
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