Hudson Pacific Properties Inc (NYSE:HPP) had its price target boosted by equities researchers at Barclays PLC from $39.00 to $40.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays PLC’s price objective suggests a potential upside of 12.83% from the stock’s previous close.
Several other analysts have also issued reports on HPP. Mizuho reiterated a “buy” rating on shares of Hudson Pacific Properties in a report on Friday, December 23rd. BTIG Research reiterated a “buy” rating and set a $40.00 price objective (up from $39.00) on shares of Hudson Pacific Properties in a report on Saturday, January 7th. Zacks Investment Research upgraded Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, February 14th. Finally, Morgan Stanley increased their price objective on Hudson Pacific Properties from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Hudson Pacific Properties currently has a consensus rating of “Buy” and an average price target of $38.28.
Hudson Pacific Properties (NYSE:HPP) traded up 0.25% during trading on Wednesday, reaching $35.45. The company had a trading volume of 596,295 shares. The company has a 50-day moving average price of $34.69 and a 200 day moving average price of $34.35. Hudson Pacific Properties has a 52-week low of $26.79 and a 52-week high of $36.75. The stock has a market cap of $4.81 billion, a PE ratio of 141.24 and a beta of 0.67.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, February 16th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Hudson Pacific Properties had a return on equity of 0.25% and a net margin of 1.51%. The business earned $167.20 million during the quarter, compared to analyst estimates of $165.68 million. During the same period last year, the company earned $0.44 earnings per share. Hudson Pacific Properties’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Hudson Pacific Properties will post $0.30 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Monday, March 20th were issued a dividend of $0.25 per share. This is a positive change from Hudson Pacific Properties’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.82%. The ex-dividend date was Thursday, March 16th. Hudson Pacific Properties’s dividend payout ratio (DPR) is -7,992.01%.
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In related news, Director Jonathan M. Glaser bought 10,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were bought at an average cost of $33.58 per share, for a total transaction of $335,800.00. Following the completion of the acquisition, the director now directly owns 127,772 shares in the company, valued at $4,290,583.76. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 13.35% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its position in Hudson Pacific Properties by 279.9% in the third quarter. Nationwide Fund Advisors now owns 279,573 shares of the real estate investment trust’s stock valued at $9,190,000 after buying an additional 205,978 shares during the period. State of Alaska Department of Revenue raised its position in Hudson Pacific Properties by 26.2% in the third quarter. State of Alaska Department of Revenue now owns 43,320 shares of the real estate investment trust’s stock valued at $1,423,000 after buying an additional 8,990 shares during the period. Strs Ohio raised its position in Hudson Pacific Properties by 3.6% in the third quarter. Strs Ohio now owns 310,125 shares of the real estate investment trust’s stock valued at $10,193,000 after buying an additional 10,899 shares during the period. Presima Inc. raised its position in Hudson Pacific Properties by 4.6% in the third quarter. Presima Inc. now owns 1,468,700 shares of the real estate investment trust’s stock valued at $48,276,000 after buying an additional 65,200 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Hudson Pacific Properties by 18.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,481 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 2,780 shares during the period. Institutional investors own 90.69% of the company’s stock.
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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