DA Davidson set a $40.00 price target on Hudson Pacific Properties Inc. (NYSE:HPP) in a research report sent to investors on Monday morning. The firm currently has a a buy rating on the real estate investment trust’s stock.
A number of other research firms also recently issued reports on HPP. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a hold rating to a buy rating and set a $38.00 price objective for the company in a report on Tuesday, August 2nd. Robert W. Baird restated an outperform rating and set a $38.00 price objective on shares of Hudson Pacific Properties in a report on Friday, August 26th. Barclays PLC raised their price objective on shares of Hudson Pacific Properties from $36.00 to $38.00 and gave the stock an overweight rating in a report on Tuesday, July 19th. Mizuho raised their price objective on shares of Hudson Pacific Properties from $37.00 to $38.00 and gave the stock a buy rating in a report on Friday, August 5th. Finally, Bank of America Corp. restated a positive rating on shares of Hudson Pacific Properties in a report on Thursday, September 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Hudson Pacific Properties presently has a consensus rating of Buy and a consensus target price of $35.80.
Hudson Pacific Properties (NYSE:HPP) opened at 32.92 on Monday. The stock has a 50 day moving average of $32.86 and a 200 day moving average of $30.76. Hudson Pacific Properties has a 12 month low of $22.77 and a 12 month high of $34.38. The firm’s market capitalization is $3.13 billion.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Hudson Pacific Properties had a net margin of 0.92% and a return on equity of 0.15%. The business earned $154.30 million during the quarter, compared to the consensus estimate of $151.59 million. On average, equities analysts predict that Hudson Pacific Properties will post $1.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.43%. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently -1,142.69%.
In other news, Director Richard B. Fried sold 804,627 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $30.32, for a total value of $24,396,290.64. Following the completion of the transaction, the director now directly owns 20,559 shares in the company, valued at $623,348.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.35% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Japan Co. Ltd raised its position in Hudson Pacific Properties by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 3,887 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 54 shares during the period. Bank of Montreal Can purchased a new position in Hudson Pacific Properties during the second quarter worth approximately $195,000. M&T Bank Corp purchased a new position in Hudson Pacific Properties during the second quarter worth approximately $213,000. Societe Generale purchased a new position in Hudson Pacific Properties during the second quarter worth approximately $227,000. Finally, Stevens Capital Management LP purchased a new position in Hudson Pacific Properties during the second quarter worth approximately $280,000. Institutional investors own 86.72% of the company’s stock.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.
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