Hudson Pacific Properties Inc Forecasted to Post FY2017 Earnings of $1.96 Per Share (HPP)
Hudson Pacific Properties Inc (NYSE:HPP) – Equities research analysts at KeyCorp issued their FY2017 earnings per share estimates for Hudson Pacific Properties in a report issued on Wednesday. KeyCorp analyst C. Mailman expects that the real estate investment trust will post earnings per share of $1.96 for the year. KeyCorp currently has a “Buy” rating on the stock. KeyCorp also issued estimates for Hudson Pacific Properties’ Q4 2017 earnings at $0.50 EPS.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $190.02 million for the quarter, compared to analyst estimates of $183.37 million. Hudson Pacific Properties had a return on equity of 1.58% and a net margin of 8.98%. Hudson Pacific Properties’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS.
Other equities research analysts have also issued research reports about the company. Goldman Sachs Group started coverage on Hudson Pacific Properties in a research report on Tuesday, September 19th. They issued a “buy” rating and a $39.00 price target on the stock. Zacks Investment Research raised Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Morgan Stanley cut their target price on Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Hudson Pacific Properties presently has an average rating of “Hold” and a consensus target price of $38.33.
Shares of Hudson Pacific Properties (HPP) opened at $33.73 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $5,260.00, a PE ratio of 86.49, a price-to-earnings-growth ratio of 2.82 and a beta of 0.78. Hudson Pacific Properties has a 12-month low of $31.52 and a 12-month high of $36.75.
Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in Hudson Pacific Properties by 14.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 278,603 shares of the real estate investment trust’s stock worth $9,342,000 after buying an additional 35,805 shares during the last quarter. Davis Selected Advisers grew its stake in Hudson Pacific Properties by 34.5% during the 3rd quarter. Davis Selected Advisers now owns 333,134 shares of the real estate investment trust’s stock worth $11,170,000 after buying an additional 85,535 shares during the last quarter. Eii Capital Management Inc. purchased a new position in Hudson Pacific Properties during the 3rd quarter worth approximately $1,361,000. California Public Employees Retirement System grew its stake in Hudson Pacific Properties by 4.2% during the 3rd quarter. California Public Employees Retirement System now owns 322,393 shares of the real estate investment trust’s stock worth $10,810,000 after buying an additional 13,093 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in Hudson Pacific Properties by 2.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 75,904 shares of the real estate investment trust’s stock worth $2,545,000 after buying an additional 1,582 shares during the last quarter. 99.47% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Richard B. Fried sold 17,417 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $34.66, for a total transaction of $603,673.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sanford Dale Shimoda sold 2,800 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $35.68, for a total value of $99,904.00. Following the sale, the executive vice president now directly owns 83,072 shares in the company, valued at approximately $2,964,008.96. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, December 15th. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 256.41%.
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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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