Wall Street brokerages forecast that Hudson Pacific Properties Inc (NYSE:HPP) will report $179.24 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Hudson Pacific Properties’ earnings, with the highest sales estimate coming in at $179.86 million and the lowest estimate coming in at $178.62 million. Hudson Pacific Properties posted sales of $172.17 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The company is expected to report its next earnings results on Thursday, November 1st.
On average, analysts expect that Hudson Pacific Properties will report full year sales of $732.08 million for the current year, with estimates ranging from $709.79 million to $769.83 million. For the next fiscal year, analysts forecast that the company will post sales of $783.48 million per share, with estimates ranging from $767.15 million to $794.01 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Hudson Pacific Properties.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.37). The business had revenue of $175.17 million for the quarter, compared to the consensus estimate of $173.98 million. Hudson Pacific Properties had a return on equity of 2.76% and a net margin of 15.29%. Hudson Pacific Properties’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share.
In other news, EVP Sanford Dale Shimoda sold 5,000 shares of the stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $35.68, for a total value of $178,400.00. Following the completion of the sale, the executive vice president now owns 94,478 shares of the company’s stock, valued at approximately $3,370,975.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Victor J. Coleman sold 46,213 shares of the stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $35.91, for a total value of $1,659,508.83. Following the completion of the sale, the chief executive officer now directly owns 959,765 shares of the company’s stock, valued at approximately $34,465,161.15. The disclosure for this sale can be found here. In the last three months, insiders sold 68,213 shares of company stock valued at $2,444,449. 1.93% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio boosted its holdings in shares of Hudson Pacific Properties by 0.5% in the 2nd quarter. Strs Ohio now owns 354,208 shares of the real estate investment trust’s stock valued at $12,549,000 after buying an additional 1,598 shares during the last quarter. Piermont Capital Management Inc. lifted its holdings in Hudson Pacific Properties by 15.7% during the 1st 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 last quarter. SG Americas Securities LLC lifted its holdings in Hudson Pacific Properties by 9.2% during the 1st 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 last quarter. Hsbc Holdings PLC lifted its holdings in Hudson Pacific Properties by 18.1% during the 1st 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 last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Hudson Pacific Properties by 2.7% during the 1st 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 last quarter.
Shares of HPP traded up $0.42 during mid-day trading on Friday, hitting $33.97. 746,900 shares of the company’s stock were exchanged, compared to its average volume of 913,912. The stock has a market capitalization of $5.24 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.00 and a beta of 0.68. Hudson Pacific Properties has a 52 week low of $28.25 and a 52 week high of $36.06. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.60.
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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