Wall Street analysts expect Hudson Pacific Properties Inc (NYSE:HPP) to announce sales of $173.87 million for the current quarter, Zacks reports. Three analysts have issued estimates for Hudson Pacific Properties’ earnings, with the highest sales estimate coming in at $180.80 million and the lowest estimate coming in at $160.02 million. Hudson Pacific Properties reported sales of $168.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The company is expected to announce its next earnings results before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that Hudson Pacific Properties will report full-year sales of $707.92 million for the current financial year, with estimates ranging from $647.05 million to $742.10 million. For the next financial year, analysts expect that the business will report sales of $752.53 million per share, with estimates ranging from $691.19 million to $781.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Hudson Pacific Properties.
Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $189.33 million during the quarter, compared to analyst estimates of $189.63 million. Hudson Pacific Properties had a return on equity of 1.81% and a net margin of 10.14%. Hudson Pacific Properties’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS.
HPP has been the subject of a number of analyst reports. Sandler O’Neill lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a research report on Friday, January 12th. Zacks Investment Research lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Mizuho reissued a “hold” rating and issued a $32.00 price target on shares of Hudson Pacific Properties in a research report on Thursday, January 25th. Barclays lowered their price target on Hudson Pacific Properties from $42.00 to $39.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Wells Fargo raised Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.75.
NYSE HPP traded up $0.41 on Thursday, reaching $31.90. The company had a trading volume of 992,898 shares, compared to its average volume of 1,046,211. The firm has a market capitalization of $4,900.92, a P/E ratio of 16.03, a PEG ratio of 2.65 and a beta of 0.67. Hudson Pacific Properties has a 52-week low of $28.25 and a 52-week high of $36.14. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Monday, March 19th were paid a $0.25 dividend. The ex-dividend date was Friday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.13%. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 50.25%.
Large investors have recently made changes to their positions in the business. Forsta AP Fonden bought a new position in Hudson Pacific Properties in the 4th quarter valued at $1,356,000. Prudential Financial Inc. grew its stake in Hudson Pacific Properties by 21.0% in the 3rd quarter. Prudential Financial Inc. now owns 2,487,091 shares of the real estate investment trust’s stock valued at $83,392,000 after purchasing an additional 431,834 shares during the period. Wells Fargo & Company MN grew its stake in Hudson Pacific Properties by 11.8% in the 4th quarter. Wells Fargo & Company MN now owns 781,739 shares of the real estate investment trust’s stock valued at $26,774,000 after purchasing an additional 82,807 shares during the period. Pensionfund DSM Netherlands grew its stake in Hudson Pacific Properties by 50.0% in the 4th quarter. Pensionfund DSM Netherlands now owns 40,500 shares of the real estate investment trust’s stock valued at $1,387,000 after purchasing an additional 13,500 shares during the period. Finally, Carillon Tower Advisers Inc. bought a new position in Hudson Pacific Properties in the 4th quarter valued at $452,000.
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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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