Hudson Pacific Properties, Inc. (HPP) to Issue $0.25 Quarterly Dividend
Hudson Pacific Properties, Inc. (NYSE:HPP) declared a quarterly dividend on Friday, September 8th, NASDAQ reports. Investors of record on Tuesday, September 19th will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Monday, September 18th.
Hudson Pacific Properties has increased its dividend payment by an average of 17.0% per year over the last three years. Hudson Pacific Properties has a payout ratio of 51.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Hudson Pacific Properties to earn $2.08 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 48.1%.
Shares of Hudson Pacific Properties (HPP) traded down 0.328% on Wednesday, reaching $31.885. The company had a trading volume of 764,146 shares. The company has a 50-day moving average price of $32.52 and a 200-day moving average price of $33.73. Hudson Pacific Properties has a 52-week low of $31.53 and a 52-week high of $36.75. The firm has a market capitalization of $4.95 billion, a PE ratio of 90.582 and a beta of 0.76.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $166.85 million for the quarter, compared to analyst estimates of $175.79 million. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Equities research analysts forecast that Hudson Pacific Properties will post $0.29 EPS for the current fiscal year.
A number of equities analysts have recently commented on HPP shares. Morgan Stanley dropped their price objective on Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. KeyCorp reiterated a “buy” rating and issued a $39.00 price objective on shares of Hudson Pacific Properties in a research note on Friday, August 25th. BidaskClub lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Barclays PLC lifted their price objective on Hudson Pacific Properties from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Hudson Pacific Properties has a consensus rating of “Buy” and an average target price of $38.31.
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In other news, Director Jonathan M. Glaser purchased 15,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $31.78 per share, for a total transaction of $476,700.00. Following the completion of the purchase, the director now directly owns 132,405 shares of the company’s stock, valued at approximately $4,207,830.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Glaser purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average price of $32.20 per share, for a total transaction of $161,000.00. Following the completion of the purchase, the director now directly owns 132,405 shares of the company’s stock, valued at $4,263,441. The disclosure for this purchase can be found here. Insiders have purchased 25,000 shares of company stock worth $797,600 over the last 90 days. Corporate insiders own 13.35% of the company’s stock.
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.
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