Hudson Pacific Properties Inc Plans Quarterly Dividend of $0.25 (NYSE:HPP)
Hudson Pacific Properties Inc (NYSE:HPP) declared a quarterly dividend on Tuesday, September 10th, Zacks reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.25 per share by the real estate investment trust on Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, September 19th.
Hudson Pacific Properties has raised its dividend payment by an average of 38.7% per year over the last three years. Hudson Pacific Properties has a payout ratio of 53.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hudson Pacific Properties to earn $2.18 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.9%.
Shares of Hudson Pacific Properties stock traded up $0.55 on Wednesday, hitting $34.39. 634,467 shares of the company traded hands, compared to its average volume of 566,411. Hudson Pacific Properties has a 12-month low of $27.12 and a 12-month high of $36.19. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89. The company has a market cap of $5.25 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.83 and a beta of 0.68. The firm’s 50-day simple moving average is $34.04 and its 200 day simple moving average is $34.17.
In related news, CEO Victor J. Coleman sold 38,749 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $33.63, for a total transaction of $1,303,128.87. Following the transaction, the chief executive officer now directly owns 686,901 shares in the company, valued at approximately $23,100,480.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Glaser purchased 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $33.27 per share, for a total transaction of $33,270.00. Following the completion of the purchase, the director now directly owns 127,649 shares in the company, valued at $4,246,882.23. The disclosure for this purchase can be found here. 1.95% of the stock is currently owned by corporate insiders.
Several equities analysts have recently commented on the company. Robert W. Baird set a $40.00 price objective on Hudson Pacific Properties and gave the company a “buy” rating in a research report on Wednesday, August 21st. Zacks Investment Research downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Hudson Pacific Properties has a consensus rating of “Buy” and an average target price of $38.50.
About Hudson Pacific Properties
Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.
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