Analysts Anticipate Hudson Pacific Properties, Inc. (HPP) Will Announce Quarterly Sales of $183.45 Million
Brokerages expect that Hudson Pacific Properties, Inc. (NYSE:HPP) will post $183.45 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Hudson Pacific Properties’ earnings, with estimates ranging from $181.09 million to $185.80 million. Hudson Pacific Properties posted sales of $167.20 million in the same quarter last year, which suggests a positive year over year growth rate of 9.7%. The company is expected to issue its next earnings report on Thursday, February 15th.
According to Zacks, analysts expect that Hudson Pacific Properties will report full-year sales of $183.45 million for the current financial year, with estimates ranging from $719.90 million to $759.12 million. For the next financial year, analysts expect that the company will post sales of $764.01 million per share, with estimates ranging from $742.10 million to $811.38 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Hudson Pacific Properties.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.50 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.50. Hudson Pacific Properties had a return on equity of 1.58% and a net margin of 8.98%. The firm had revenue of $190.02 million for the quarter, compared to analyst estimates of $183.37 million. During the same quarter last year, the company earned $0.46 EPS. The company’s revenue was up 15.5% on a year-over-year basis.
HPP has been the topic of a number of recent research reports. BidaskClub lowered Hudson Pacific Properties from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. 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 research note on Tuesday, August 15th. KeyCorp restated a “buy” rating and set a $39.00 price objective on shares of Hudson Pacific Properties in a research note on Friday, August 25th. Morgan Stanley lowered 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. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Hudson Pacific Properties in a research note on Tuesday, September 19th. They set a “buy” rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Hudson Pacific Properties presently has an average rating of “Hold” and a consensus target price of $37.79.
In other news, insider Richard B. Fried sold 17,417 shares of Hudson Pacific Properties stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $34.66, for a total value of $603,673.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Forsta AP Fonden increased its stake in shares of Hudson Pacific Properties by 199.4% in the 2nd quarter. Forsta AP Fonden now owns 51,500 shares of the real estate investment trust’s stock valued at $1,761,000 after purchasing an additional 34,300 shares during the last quarter. State of Wisconsin Investment Board bought a new position in shares of Hudson Pacific Properties in the 2nd quarter valued at $1,064,000. UBS Asset Management Americas Inc. increased its stake in shares of Hudson Pacific Properties by 13.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 471,746 shares of the real estate investment trust’s stock valued at $16,129,000 after purchasing an additional 56,778 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Hudson Pacific Properties by 27.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 691,880 shares of the real estate investment trust’s stock valued at $23,655,000 after acquiring an additional 148,295 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Hudson Pacific Properties during the 2nd quarter valued at $792,000.
Hudson Pacific Properties (NYSE HPP) traded down $0.17 during trading on Tuesday, reaching $35.12. The company’s stock had a trading volume of 557,953 shares, compared to its average volume of 1,184,091. Hudson Pacific Properties has a 12-month low of $31.52 and a 12-month high of $36.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 1.32. The company has a market cap of $5,490.00, a price-to-earnings ratio of 18.25, a PEG ratio of 3.13 and a beta of 0.77.
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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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