Brokerages expect Hudson Pacific Properties Inc (NYSE:HPP) to post sales of $183.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Hudson Pacific Properties’ earnings. The lowest sales estimate is $181.09 million and the highest is $185.80 million. Hudson Pacific Properties reported sales of $167.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, February 15th.
According to Zacks, analysts expect that Hudson Pacific Properties will report full year sales of $183.45 million for the current fiscal year, with estimates ranging from $719.90 million to $747.48 million. For the next year, analysts forecast that the business will report sales of $745.49 million per share, with estimates ranging from $737.32 million to $751.55 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hudson Pacific Properties.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Hudson Pacific Properties had a return on equity of 1.58% and a net margin of 8.98%. The firm had revenue of $190.02 million for the quarter, compared to analysts’ expectations of $183.37 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis.
Shares of Hudson Pacific Properties (HPP) opened at $32.69 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $5,129.72, a price-to-earnings ratio of 79.73, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. Hudson Pacific Properties has a one year low of $31.52 and a one year high of $36.75.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Monday, December 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, December 15th. Hudson Pacific Properties’s payout ratio is 243.90%.
In other news, insider Richard B. Fried sold 17,417 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $34.66, for a total transaction of $603,673.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sanford Dale Shimoda sold 2,800 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $35.68, for a total value of $99,904.00. Following the transaction, the executive vice president now directly owns 83,072 shares in the company, valued at $2,964,008.96. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Hudson Pacific Properties by 13.6% during the third quarter. Principal Financial Group Inc. now owns 6,125,974 shares of the real estate investment trust’s stock valued at $205,403,000 after purchasing an additional 734,232 shares during the period. Cbre Clarion Securities LLC increased its holdings in shares of Hudson Pacific Properties by 14.1% during the second quarter. Cbre Clarion Securities LLC now owns 5,416,970 shares of the real estate investment trust’s stock valued at $185,206,000 after purchasing an additional 668,985 shares during the period. Brookfield Asset Management Inc. increased its holdings in shares of Hudson Pacific Properties by 11.3% during the second quarter. Brookfield Asset Management Inc. now owns 4,669,148 shares of the real estate investment trust’s stock valued at $159,638,000 after purchasing an additional 473,154 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Hudson Pacific Properties by 16.2% during the second quarter. Goldman Sachs Group Inc. now owns 4,334,280 shares of the real estate investment trust’s stock valued at $148,189,000 after purchasing an additional 604,944 shares during the period. Finally, Citadel Advisors LLC increased its holdings in shares of Hudson Pacific Properties by 468.9% during the third quarter. Citadel Advisors LLC now owns 2,576,552 shares of the real estate investment trust’s stock valued at $86,392,000 after purchasing an additional 2,123,642 shares during the period. 99.67% of the stock is currently owned by institutional investors.
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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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