Zacks Investment Research upgraded shares of Hudson Pacific Properties (NYSE:HPP) from a sell rating to a hold rating in a research report sent to investors 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. “
Other research analysts have also recently issued research reports about the stock. Citigroup initiated coverage on shares of Hudson Pacific Properties in a report on Tuesday, February 27th. They issued a buy rating and a $37.00 target price for the company. Mizuho reissued a hold rating and issued a $32.00 target price on shares of Hudson Pacific Properties in a report on Thursday, January 25th. Sandler O’Neill cut shares of Hudson Pacific Properties from a buy rating to a hold rating and set a $36.00 target price for the company. in a report on Friday, January 12th. Wells Fargo upgraded shares of Hudson Pacific Properties from a market perform rating to an outperform rating and set a $40.00 price objective for the company in a report on Friday, February 23rd. Finally, Barclays dropped their price objective on shares of Hudson Pacific Properties from $42.00 to $39.00 and set an overweight rating for the company in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $36.88.
Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $189.33 million during the quarter, compared to analysts’ expectations of $189.63 million. Hudson Pacific Properties had a net margin of 10.14% and a return on equity of 1.81%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. equities research analysts forecast that Hudson Pacific Properties will post 1.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.18%. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 227.28%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Hudson Pacific Properties by 0.8% in the 4th quarter. BlackRock Inc. now owns 11,057,827 shares of the real estate investment trust’s stock valued at $378,731,000 after buying an additional 90,467 shares during the last quarter. Cbre Clarion Securities LLC raised its holdings in Hudson Pacific Properties by 1.7% in the 4th quarter. Cbre Clarion Securities LLC now owns 6,117,244 shares of the real estate investment trust’s stock valued at $209,516,000 after buying an additional 102,114 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Hudson Pacific Properties by 1.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,563,054 shares of the real estate investment trust’s stock valued at $190,535,000 after buying an additional 93,929 shares during the last quarter. Brookfield Asset Management Inc. raised its holdings in Hudson Pacific Properties by 0.7% in the 4th quarter. Brookfield Asset Management Inc. now owns 3,511,450 shares of the real estate investment trust’s stock valued at $120,267,000 after buying an additional 24,200 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Hudson Pacific Properties by 21,397.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,353,584 shares of the real estate investment trust’s stock valued at $114,861,000 after buying an additional 3,337,984 shares during the last quarter.
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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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