Hudson Pacific Properties Inc. (HPP) PT Set at $40.00 by DA Davidson
Hudson Pacific Properties Inc. (NYSE:HPP) has been assigned a $40.00 target price by analysts at DA Davidson in a report released on Monday. The brokerage currently has a a “buy” rating on the real estate investment trust’s stock. DA Davidson’s price target would suggest a potential upside of 21.84% from the stock’s current price.
HPP has been the topic of a number of other research reports. Zacks Investment Research raised Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, August 10th. Mizuho increased their price target on Hudson Pacific Properties from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, August 5th. BTIG Research initiated coverage on Hudson Pacific Properties in a research note on Thursday, August 25th. They issued a “buy” rating and a $38.00 price target on the stock. Robert W. Baird reissued an “outperform” rating and issued a $38.00 price target on shares of Hudson Pacific Properties in a research note on Friday, August 26th. Finally, Bank of America Corp. reissued a “positive” rating on shares of Hudson Pacific Properties in a research note on Thursday, September 22nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $35.80.
Shares of Hudson Pacific Properties (NYSE:HPP) traded down 1.77% on Monday, reaching $32.25. The company’s stock had a trading volume of 346,250 shares. The company’s market cap is $3.07 billion. The company has a 50 day moving average price of $32.88 and a 200 day moving average price of $30.72. Hudson Pacific Properties has a 52-week low of $22.77 and a 52-week high of $34.38.
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 the consensus estimate of $0.42 by $0.01. Hudson Pacific Properties had a return on equity of 0.15% and a net margin of 0.92%. The firm had revenue of $154.30 million for the quarter, compared to the consensus estimate of $151.59 million. On average, analysts anticipate that Hudson Pacific Properties will post $1.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Tuesday, September 20th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Friday, September 16th. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently -1,142.69%.
In other Hudson Pacific Properties news, Director Richard B. Fried sold 804,627 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $30.32, for a total transaction of $24,396,290.64. Following the completion of the transaction, the director now owns 20,559 shares in the company, valued at approximately $623,348.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 13.35% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HPP. Shinko Asset Management Co. Ltd. boosted its position in Hudson Pacific Properties by 84.2% in the second quarter. Shinko Asset Management Co. Ltd. now owns 2,294,991 shares of the real estate investment trust’s stock worth $66,968,000 after buying an additional 1,049,207 shares during the period. Legal & General Group Plc boosted its position in Hudson Pacific Properties by 0.9% in the first quarter. Legal & General Group Plc now owns 143,737 shares of the real estate investment trust’s stock worth $4,157,000 after buying an additional 1,310 shares during the period. Jennison Associates LLC purchased a new position in Hudson Pacific Properties during the second quarter worth about $1,472,000. M&T Bank Corp purchased a new position in Hudson Pacific Properties during the second quarter worth about $213,000. Finally, UBS Group AG boosted its position in Hudson Pacific Properties by 3.5% in the first quarter. UBS Group AG now owns 85,085 shares of the real estate investment trust’s stock worth $2,461,000 after buying an additional 2,865 shares during the period. Hedge funds and other institutional investors own 86.72% of the company’s stock.
About Hudson Pacific Properties
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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