Hudson Pacific Properties, Inc. (HPP) Given Average Recommendation of “Hold” by Analysts
Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.58.
Several analysts have issued reports on HPP shares. Barclays PLC boosted their price target on Hudson Pacific Properties from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. KeyCorp reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Hudson Pacific Properties in a research note on Friday, August 25th. BidaskClub lowered Hudson Pacific Properties from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) assumed coverage on Hudson Pacific Properties in a research note on Tuesday, September 19th. They issued a “buy” rating and a $39.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, September 1st.
Shares of Hudson Pacific Properties (HPP) opened at 33.43 on Wednesday. The company’s 50-day moving average price is $32.97 and its 200-day moving average price is $33.37. Hudson Pacific Properties has a one year low of $31.52 and a one year high of $36.75. The stock has a market cap of $5.19 billion, a PE ratio of 94.97 and a beta of 0.75.
Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating 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 business had revenue of $166.85 million during the quarter, compared to analyst estimates of $175.79 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. Hudson Pacific Properties’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Hudson Pacific Properties will post $0.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. Hudson Pacific Properties’s dividend payout ratio is currently 277.78%.
In related news, Director Jonathan M. Glaser acquired 15,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $31.78 per share, for a total transaction of $476,700.00. Following the completion of the transaction, the director now directly owns 132,405 shares in the company, valued at approximately $4,207,830.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Glaser acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $31.98 per share, for a total transaction of $159,900.00. Following the completion of the transaction, the director now owns 132,405 shares of the company’s stock, valued at $4,234,311.90. The disclosure for this purchase can be found here. Insiders purchased 25,000 shares of company stock worth $797,600 over the last quarter. 0.33% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC raised its position in Hudson Pacific Properties by 281.8% during the first quarter. Nuveen Asset Management LLC now owns 1,968,038 shares of the real estate investment trust’s stock valued at $68,173,000 after purchasing an additional 1,452,589 shares during the period. Forsta AP Fonden raised its position in Hudson Pacific Properties by 199.4% during the second quarter. Forsta AP Fonden now owns 51,500 shares of the real estate investment trust’s stock valued at $1,761,000 after purchasing an additional 34,300 shares during the period. State Street Corp raised its position in Hudson Pacific Properties by 38.3% during the first quarter. State Street Corp now owns 5,047,262 shares of the real estate investment trust’s stock valued at $174,833,000 after purchasing an additional 1,397,069 shares during the period. California Public Employees Retirement System raised its position in Hudson Pacific Properties by 6.0% during the first quarter. California Public Employees Retirement System now owns 160,300 shares of the real estate investment trust’s stock valued at $5,553,000 after purchasing an additional 9,100 shares during the period. Finally, State of Wisconsin Investment Board purchased a new stake in Hudson Pacific Properties during the second quarter valued at approximately $1,064,000.
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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