Hudson Pacific Properties, Inc. (HPP) Receives “Buy” Rating from KeyCorp
KeyCorp reissued their buy rating on shares of Hudson Pacific Properties, Inc. (NYSE:HPP) in a research report released on Friday. The brokerage currently has a $39.00 price target on the real estate investment trust’s stock.
Other equities research analysts have also recently issued research reports about the company. BidaskClub upgraded Hudson Pacific Properties from a sell rating to a hold rating in a report on Saturday, June 10th. Barclays PLC raised their price objective on Hudson Pacific Properties from $40.00 to $41.00 and gave the stock an overweight rating in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $38.61.
Shares of Hudson Pacific Properties (NYSE:HPP) traded up 0.34% during trading on Friday, reaching $32.76. The company’s stock had a trading volume of 813,569 shares. Hudson Pacific Properties has a 1-year low of $31.53 and a 1-year high of $36.75. The stock has a 50 day moving average of $32.45 and a 200-day moving average of $34.02. The company has a market capitalization of $5.09 billion, a PE ratio of 93.07 and a beta of 0.75.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The business had revenue of $166.85 million for the quarter, compared to analysts’ expectations of $175.79 million. During the same quarter last year, the firm earned $0.43 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. On average, analysts expect that Hudson Pacific Properties will post $0.34 earnings per share for the current year.
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In other news, insider Harout Krikor Diramerian sold 20,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $34.01, for a total transaction of $680,200.00. Following the sale, the insider now directly owns 52,876 shares of the company’s stock, valued at $1,798,312.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Glaser bought 15,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $31.78 per share, for a total transaction of $476,700.00. Following the completion of the transaction, the director now owns 132,405 shares of the company’s stock, valued at approximately $4,207,830.90. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 25,000 shares of company stock worth $797,600 and sold 169,549 shares worth $5,981,459. Company insiders own 13.35% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Phocas Financial Corp. increased its position in Hudson Pacific Properties by 4.9% in the second quarter. Phocas Financial Corp. now owns 334,730 shares of the real estate investment trust’s stock worth $11,444,000 after buying an additional 15,634 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Hudson Pacific Properties during the second quarter worth approximately $214,000. Public Employees Retirement System of Ohio increased its position in shares of Hudson Pacific Properties by 40.6% in the second quarter. Public Employees Retirement System of Ohio now owns 242,798 shares of the real estate investment trust’s stock worth $8,301,000 after buying an additional 70,072 shares during the last quarter. 1st Global Advisors Inc. increased its position in shares of Hudson Pacific Properties by 115.0% in the second quarter. 1st Global Advisors Inc. now owns 21,435 shares of the real estate investment trust’s stock worth $733,000 after buying an additional 11,466 shares during the last quarter. Finally, Piedmont Investment Advisors LLC increased its position in shares of Hudson Pacific Properties by 43.4% in the second quarter. Piedmont Investment Advisors LLC now owns 61,808 shares of the real estate investment trust’s stock worth $2,113,000 after buying an additional 18,714 shares during the last quarter.
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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