Zacks Investment Research upgraded shares of Hudson Pacific Properties (NYSE:HPP) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $38.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring office properties and media and entertainment properties in select growth markets primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company is headquartered in Los Angeles, California. “
Get Hudson Pacific Properties alerts:Other analysts have also recently issued reports about the stock. TheStreet upgraded shares of Hudson Pacific Properties from a c+ rating to a b- rating in a report on Wednesday, May 23rd. Bank of America raised their price target on shares of Hudson Pacific Properties from $39.00 to $40.00 and gave the stock a buy rating in a report on Friday, May 25th. Barclays restated a buy rating and set a $38.00 price target on shares of Hudson Pacific Properties in a report on Tuesday, April 17th. DA Davidson set a $45.00 price target on shares of Hudson Pacific Properties and gave the stock a buy rating in a report on Thursday, May 31st. Finally, Robert W. Baird raised their price target on shares of Hudson Pacific Properties from $36.00 to $37.00 and gave the stock an outperform rating in a report on Wednesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $37.83.
HPP stock opened at $33.86 on Wednesday. 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 company has a market cap of $5.31 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.09 and a beta of 0.70. Hudson Pacific Properties has a 52 week low of $28.25 and a 52 week high of $36.06.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.15). The company had revenue of $174.12 million for the quarter, compared to analyst estimates of $173.65 million. Hudson Pacific Properties had a return on equity of 2.44% and a net margin of 13.47%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. analysts anticipate that Hudson Pacific Properties will post 1.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Tuesday, June 19th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Monday, June 18th. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 50.25%.
In other Hudson Pacific Properties news, EVP Arthur X. Suazo sold 10,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $35.53, for a total value of $355,300.00. Following the completion of the sale, the executive vice president now directly owns 102,995 shares in the company, valued at $3,659,412.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sanford Dale Shimoda sold 5,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $35.96, for a total transaction of $179,800.00. Following the completion of the sale, the executive vice president now owns 89,478 shares of the company’s stock, valued at $3,217,628.88. The disclosure for this sale can be found here. Insiders sold 78,213 shares of company stock valued at $2,794,149 over the last quarter. Corporate insiders own 1.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HPP. Piermont Capital Management Inc. raised its position in shares of 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 shares of 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. Verition Fund Management LLC raised its position in shares of 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. Hsbc Holdings PLC raised its position in shares of Hudson Pacific Properties by 18.1% in the first quarter. Hsbc Holdings PLC now owns 16,396 shares of the real estate investment trust’s stock valued at $533,000 after purchasing an additional 2,512 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Hudson Pacific Properties by 2.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 97,771 shares of the real estate investment trust’s stock valued at $3,180,000 after purchasing an additional 2,547 shares during the period.
About Hudson Pacific Properties
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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