DA Davidson set a $40.00 price objective on Hudson Pacific Properties Inc. (NYSE:HPP) in a research report released 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 have also recently commented on HPP. Zacks Investment Research raised shares of Hudson Pacific Properties from a hold rating to a buy rating and set a $38.00 price target for the company in a research note on Wednesday, August 10th. Mizuho lifted their price objective on shares of Hudson Pacific Properties from $37.00 to $38.00 and gave the company a buy rating in a report on Friday, August 5th. BTIG Research initiated coverage on shares of Hudson Pacific Properties in a report on Thursday, August 25th. They set a buy rating and a $38.00 price objective for the company. Robert W. Baird reiterated an outperform rating and set a $38.00 price objective on shares of Hudson Pacific Properties in a report on Friday, August 26th. Finally, Bank of America Corp. reiterated 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 issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $35.80.
Shares of Hudson Pacific Properties (NYSE:HPP) opened at 32.57 on Monday. The stock’s market cap is $3.10 billion. The firm has a 50-day moving average of $32.86 and a 200-day moving average of $30.74. Hudson Pacific Properties has a one year low of $22.77 and a one year high of $34.38.
Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.43 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 firm earned $154.30 million during the quarter, compared to analysts’ expectations of $151.59 million. On average, equities research analysts expect 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, September 16th. Hudson Pacific Properties’s payout ratio is currently -1,142.69%.
In other news, Director Richard B. Fried sold 804,627 shares of Hudson Pacific Properties 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 transaction, the director now owns 20,559 shares of the company’s stock, valued at approximately $623,348.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.35% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Japan Co. Ltd increased its position in shares of 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 last quarter. Bank of Montreal Can purchased a new position in shares of Hudson Pacific Properties during the second quarter worth about $195,000. M&T Bank Corp purchased a new position in shares of Hudson Pacific Properties during the second quarter worth about $213,000. Societe Generale purchased a new position in shares of Hudson Pacific Properties during the second quarter worth about $227,000. Finally, Stevens Capital Management LP purchased a new position in shares of Hudson Pacific Properties during the second quarter worth about $280,000. 86.72% of the stock is currently owned by hedge funds and other institutional investors.
Hudson Pacific Properties Company Profile