Hudson Pacific Properties (HPP) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Hudson Pacific Properties (NYSE:HPP) from a hold rating to a sell rating in a report issued on Wednesday morning.
According to Zacks, “Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring office properties and media and entertainment properties in select growth markets primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company is headquartered in Los Angeles, California. “
A number of other analysts have also recently commented on the stock. Sandler O’Neill cut shares of Hudson Pacific Properties from a buy rating to a hold rating and set a $36.00 price target for the company. in a research note on Friday, January 12th. Goldman Sachs Group cut shares of Hudson Pacific Properties from a buy rating to a neutral rating in a research note on Monday, November 20th. Finally, KeyCorp restated a buy rating on shares of Hudson Pacific Properties in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $37.67.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $190.02 million during the quarter, compared to analysts’ expectations of $183.37 million. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. research analysts expect that Hudson Pacific Properties will post 1.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, December 15th. Hudson Pacific Properties’s dividend payout ratio is presently 243.90%.
In related news, EVP Sanford Dale Shimoda sold 2,800 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $35.68, for a total transaction of $99,904.00. Following the transaction, the executive vice president now directly owns 83,072 shares of the company’s stock, valued at $2,964,008.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard B. Fried sold 17,417 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $34.66, for a total transaction of $603,673.22. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new position in Hudson Pacific Properties during the second quarter worth about $214,000. Ramsey Quantitative Systems bought a new position in Hudson Pacific Properties during the second quarter worth about $310,000. Creative Planning bought a new position in Hudson Pacific Properties during the fourth quarter worth about $317,000. Royal Bank of Canada increased its position in Hudson Pacific Properties by 60.7% during the second quarter. Royal Bank of Canada now owns 9,386 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 3,544 shares during the period. Finally, Comerica Bank increased its position in Hudson Pacific Properties by 37.5% during the second quarter. Comerica Bank now owns 11,464 shares of the real estate investment trust’s stock worth $367,000 after acquiring an additional 3,124 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.
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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