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. “
A number of other research firms also recently weighed in on HPP. Barclays set a $42.00 target price on Hudson Pacific Properties and gave the company a buy rating in a report on Friday, October 11th. Goldman Sachs Group assumed coverage on Hudson Pacific Properties in a report on Friday, November 8th. They issued a buy rating and a $41.00 target price on the stock. Morgan Stanley increased their target price on Hudson Pacific Properties from $34.00 to $39.00 and gave the company an overweight rating in a report on Friday, December 13th. ValuEngine downgraded Hudson Pacific Properties from a hold rating to a sell rating in a report on Tuesday, January 7th. Finally, Mizuho raised Hudson Pacific Properties from a neutral rating to a buy rating and set a $42.00 target price on the stock in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $40.57.
Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Hudson Pacific Properties had a return on equity of 1.27% and a net margin of 5.94%. The company had revenue of $208.20 million during the quarter, compared to analysts’ expectations of $204.82 million. During the same period in the prior year, the company posted $0.47 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. As a group, analysts forecast that Hudson Pacific Properties will post 2.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.00 annualized dividend and a yield of 2.70%. Hudson Pacific Properties’s dividend payout ratio (DPR) is 53.76%.
In related news, EVP Sanford Dale Shimoda sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.52, for a total transaction of $177,600.00. Following the transaction, the executive vice president now directly owns 93,971 shares in the company, valued at approximately $3,337,849.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.95% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Quantum Capital Management acquired a new position in shares of Hudson Pacific Properties in the 3rd quarter valued at about $51,000. Point72 Hong Kong Ltd lifted its holdings in shares of Hudson Pacific Properties by 17.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,992 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 601 shares during the period. Comerica Bank lifted its holdings in shares of Hudson Pacific Properties by 5.4% in the 3rd quarter. Comerica Bank now owns 7,784 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 398 shares during the period. Fox Run Management L.L.C. lifted its holdings in shares of Hudson Pacific Properties by 86.5% in the 3rd quarter. Fox Run Management L.L.C. now owns 11,379 shares of the real estate investment trust’s stock valued at $381,000 after buying an additional 5,277 shares during the period. Finally, Paloma Partners Management Co lifted its holdings in shares of Hudson Pacific Properties by 21.5% in the 2nd quarter. Paloma Partners Management Co now owns 15,196 shares of the real estate investment trust’s stock valued at $506,000 after buying an additional 2,693 shares during the period.
About Hudson Pacific Properties
Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.
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