Zacks: Analysts Anticipate Hudson Pacific Properties, Inc. (HPP) Will Post Earnings of $0.49 Per Share
Wall Street brokerages expect Hudson Pacific Properties, Inc. (NYSE:HPP) to post earnings per share (EPS) of $0.49 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Hudson Pacific Properties’ earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.48. Hudson Pacific Properties posted earnings per share of $0.02 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2,350%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Hudson Pacific Properties will report full-year earnings of $1.96 per share for the current financial year, with EPS estimates ranging from $1.94 to $1.97. For the next financial year, analysts expect that the company will post earnings of $2.08 per share, with EPS estimates ranging from $2.05 to $2.14. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Hudson Pacific Properties.
Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $166.85 million for the quarter, compared to the consensus estimate of $175.79 million. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS.
HPP has been the topic of a number of research analyst reports. KeyCorp restated a “buy” rating and set a $39.00 price target on shares of Hudson Pacific Properties in a research report on Friday, August 25th. BidaskClub upgraded Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Barclays PLC increased their price target on Hudson Pacific Properties from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. Finally, Morgan Stanley decreased their price target on Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Hudson Pacific Properties currently has an average rating of “Buy” and an average target price of $38.31.
Shares of Hudson Pacific Properties (HPP) traded down 0.68% during mid-day trading on Friday, reaching $32.19. The company’s stock had a trading volume of 831,967 shares. The company has a 50 day moving average of $32.51 and a 200-day moving average of $33.83. Hudson Pacific Properties has a 12 month low of $31.53 and a 12 month high of $36.75. The firm has a market capitalization of $5.00 billion, a P/E ratio of 91.45 and a beta of 0.76.
In other Hudson Pacific Properties news, insider Alex Vouvalides sold 6,500 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $35.16, for a total transaction of $228,540.00. Following the transaction, the insider now owns 177,170 shares of the company’s stock, valued at approximately $6,229,297.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark T. Lammas sold 65,963 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $35.51, for a total value of $2,342,346.13. Following the transaction, the chief financial officer now directly owns 321,780 shares in the company, valued at approximately $11,426,407.80. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 25,000 shares of company stock worth $797,600 and have sold 140,549 shares worth $4,990,039. 13.35% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Hudson Pacific Properties by 126.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,740 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 2,091 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Hudson Pacific Properties during the 2nd quarter worth $168,000. Dynamic Technology Lab Private Ltd acquired a new position in Hudson Pacific Properties during the 2nd quarter worth $214,000. Nine Chapters Capital Management LLC acquired a new position in Hudson Pacific Properties during the 1st quarter worth $215,000. Finally, Advisors Asset Management Inc. lifted its holdings in Hudson Pacific Properties by 1,278.7% during the 1st quarter. Advisors Asset Management Inc. now owns 6,742 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 6,253 shares in the last quarter.
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About Hudson Pacific Properties
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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