Hudson Pacific Properties Inc. (HPP) PT Set at $40.00 by DA Davidson
Hudson Pacific Properties Inc. (NYSE:HPP) received a $40.00 price target from stock analysts at DA Davidson in a research note issued to investors on Monday. The brokerage presently has a a “buy” rating on the real estate investment trust’s stock. DA Davidson’s price objective indicates a potential upside of 23.76% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Robert W. Baird began coverage on Hudson Pacific Properties in a research note on Thursday, June 30th. They issued an “outperform” rating and a $38.00 price target for the company. Zacks Investment Research cut Hudson Pacific Properties from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a research note on Wednesday, July 13th. Mizuho upgraded Hudson Pacific Properties from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, July 22nd. Finally, Barclays PLC boosted their price target on Hudson Pacific Properties from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $35.80.
Hudson Pacific Properties (NYSE:HPP) opened at 32.32 on Monday. The firm has a 50-day moving average price of $32.87 and a 200 day moving average price of $30.73. The company’s market cap is $3.08 billion. 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 results on Thursday, August 4th. The real estate investment trust reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ 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 earned $154.30 million during the quarter, compared to analysts’ expectations of $151.59 million. Analysts expect that Hudson Pacific Properties will post $1.76 EPS for the current fiscal year.
The business also recently declared 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 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Friday, September 16th. Hudson Pacific Properties’s dividend payout ratio is presently -1,142.69%.
In other Hudson Pacific Properties news, Director Richard B. Fried sold 804,627 shares of the business’s 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 sale, the director now owns 20,559 shares of the company’s stock, valued at $623,348.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.35% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in HPP. Royal Bank of Canada raised its stake in Hudson Pacific Properties by 1,050.5% in the second quarter. Royal Bank of Canada now owns 21,676 shares of the real estate investment trust’s stock valued at $632,000 after buying an additional 19,792 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Hudson Pacific Properties during the second quarter worth $2,750,000. Sterling Capital Management LLC raised its position in Hudson Pacific Properties by 40.5% in the second quarter. Sterling Capital Management LLC now owns 104,000 shares of the real estate investment trust’s stock worth $3,035,000 after buying an additional 30,000 shares during the period. Schwab Charles Investment Management Inc. raised its position in Hudson Pacific Properties by 190.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 716,356 shares of the real estate investment trust’s stock worth $20,904,000 after buying an additional 469,695 shares during the period. Finally, Amalgamated Bank raised its position in Hudson Pacific Properties by 24.0% in the second quarter. Amalgamated Bank now owns 9,903 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 1,915 shares during the period. 86.72% of the stock is owned by institutional investors and hedge funds.
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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