Shares of Hudson Pacific Properties Inc (NYSE:HPP) have earned a consensus recommendation of “Buy” from the fourteen research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $37.56.
Several equities research analysts have recently issued reports on HPP shares. Barclays restated a “buy” rating and set a $38.00 price objective on shares of Hudson Pacific Properties in a report on Tuesday, April 17th. Zacks Investment Research cut Hudson Pacific Properties from a “hold” rating to a “sell” rating in a report on Thursday, April 26th. DA Davidson set a $45.00 price objective on Hudson Pacific Properties and gave the stock a “buy” rating in a report on Thursday, May 31st. Bank of America raised their price objective on Hudson Pacific Properties from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 25th. Finally, TheStreet upgraded Hudson Pacific Properties from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd.
In related news, EVP Sanford Dale Shimoda sold 2,000 shares of Hudson Pacific Properties stock in a transaction on Friday, June 1st. The stock was sold at an average price of $35.72, for a total value of $71,440.00. Following the transaction, the executive vice president now owns 94,478 shares in the company, valued at $3,374,754.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Harout Krikor Diramerian sold 10,000 shares of Hudson Pacific Properties stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $34.97, for a total value of $349,700.00. Following the completion of the transaction, the insider now owns 60,828 shares in the company, valued at approximately $2,127,155.16. The disclosure for this sale can be found here. Insiders sold 78,213 shares of company stock worth $2,794,149 in the last quarter. 1.93% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Amalgamated Bank boosted its holdings in Hudson Pacific Properties by 6.2% in the fourth quarter. Amalgamated Bank now owns 30,114 shares of the real estate investment trust’s stock valued at $1,031,000 after acquiring an additional 1,768 shares during the last quarter. Piermont Capital Management Inc. raised its position in Hudson Pacific Properties by 15.7% in the first quarter. Piermont Capital Management Inc. now owns 13,540 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 1,840 shares during the period. SG Americas Securities LLC raised its position in Hudson Pacific Properties by 9.2% in the first quarter. SG Americas Securities LLC now owns 23,242 shares of the real estate investment trust’s stock valued at $756,000 after purchasing an additional 1,957 shares during the period. Aperio Group LLC raised its position in Hudson Pacific Properties by 20.1% in the fourth quarter. Aperio Group LLC now owns 12,277 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 2,053 shares during the period. Finally, Verition Fund Management LLC raised its position in Hudson Pacific Properties by 20.2% in the fourth quarter. Verition Fund Management LLC now owns 12,527 shares of the real estate investment trust’s stock valued at $429,000 after purchasing an additional 2,106 shares during the period.
Shares of HPP stock traded down $0.08 during mid-day trading on Monday, hitting $35.12. 7,156 shares of the company’s stock were exchanged, compared to its average volume of 810,520. Hudson Pacific Properties has a fifty-two week low of $28.25 and a fifty-two week high of $36.06. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 3.21 and a beta of 0.70.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.15). Hudson Pacific Properties had a return on equity of 2.44% and a net margin of 13.47%. The business had revenue of $174.12 million for the quarter, compared to analyst estimates of $173.65 million. During the same quarter last year, the business earned $0.48 EPS. Hudson Pacific Properties’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts anticipate that Hudson Pacific Properties will post 1.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Tuesday, June 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Monday, June 18th. Hudson Pacific Properties’s payout ratio is currently 50.25%.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties is a vertically integrated real estate Company focused on acquiring, repositioning, developing and operating high-quality office and state-of-the-art studio properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value.
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