Hudson Pacific Properties, Inc. (HPP) Receives Average Recommendation of “Buy” from Brokerages
Hudson Pacific Properties, Inc. (NYSE:HPP) has been assigned an average rating of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.44.
Several equities research analysts have recently weighed in on HPP shares. Barclays PLC raised their target price on Hudson Pacific Properties from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. BidaskClub lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th.
In related news, CEO Victor J. Coleman sold 58,086 shares of Hudson Pacific Properties stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $35.50, for a total value of $2,062,053.00. Following the sale, the chief executive officer now directly owns 936,165 shares in the company, valued at $33,233,857.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sanford Dale Shimoda sold 5,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $35.87, for a total value of $179,350.00. Following the completion of the sale, the executive vice president now owns 85,872 shares in the company, valued at $3,080,228.64. The disclosure for this sale can be found here. In the last three months, insiders sold 169,549 shares of company stock worth $5,981,459. Corporate insiders own 13.35% of the company’s stock.
Several hedge funds have recently bought and sold shares of HPP. PNC Financial Services Group Inc. increased its stake in Hudson Pacific Properties by 126.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,740 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 2,091 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Hudson Pacific Properties during the second quarter worth $168,000. Nine Chapters Capital Management LLC acquired a new stake in Hudson Pacific Properties during the first quarter worth $215,000. Advisors Asset Management Inc. increased its stake in Hudson Pacific Properties by 1,278.7% in the first quarter. Advisors Asset Management Inc. now owns 6,742 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 6,253 shares during the last quarter. Finally, Sprott Inc. purchased a new stake in Hudson Pacific Properties during the first quarter worth approximately $283,000.
Hudson Pacific Properties (NYSE HPP) opened at 32.15 on Friday. Hudson Pacific Properties has a 12-month low of $31.53 and a 12-month high of $36.75. The stock’s 50 day moving average is $32.90 and its 200 day moving average is $34.24. The firm has a market cap of $4.99 billion, a P/E ratio of 91.34 and a beta of 0.75.
Hudson Pacific Properties (NYSE:HPP) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share 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 analyst estimates of $175.79 million. During the same quarter last year, the company earned $0.43 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts expect that Hudson Pacific Properties will post $0.29 EPS for the current year.
Hudson Pacific Properties Company Profile
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.
Receive News & Ratings for Hudson Pacific Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.