Zacks: Analysts Anticipate Hudson Pacific Properties Inc (NYSE:HPP) Will Post Quarterly Sales of $199.20 Million

Analysts expect Hudson Pacific Properties Inc (NYSE:HPP) to report $199.20 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Hudson Pacific Properties’ earnings, with the lowest sales estimate coming in at $190.89 million and the highest estimate coming in at $205.10 million. Hudson Pacific Properties posted sales of $196.66 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.3%. The firm is expected to report its next earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Hudson Pacific Properties will report full year sales of $818.43 million for the current fiscal year, with estimates ranging from $787.30 million to $847.47 million. For the next year, analysts expect that the business will post sales of $848.60 million, with estimates ranging from $808.30 million to $890.22 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Hudson Pacific Properties.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Hudson Pacific Properties had a return on equity of 2.51% and a net margin of 11.22%. The firm had revenue of $206.23 million for the quarter, compared to the consensus estimate of $214.46 million. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year.

HPP has been the subject of several research analyst reports. ValuEngine lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Monday, April 27th. Citigroup dropped their price target on Hudson Pacific Properties from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Zacks Investment Research lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group initiated coverage on Hudson Pacific Properties in a research note on Thursday, April 16th. They set a “hold” rating for the company. Finally, Morgan Stanley lowered Hudson Pacific Properties from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $27.00 to $24.00 in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $34.50.

In other Hudson Pacific Properties news, Director Barry Alan Porter purchased 5,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $20.60 per share, with a total value of $103,000.00. Following the completion of the acquisition, the director now owns 89,690 shares of the company’s stock, valued at approximately $1,847,614. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Matthew Jr. Moran purchased 10,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $23.14 per share, with a total value of $231,400.00. Following the acquisition, the director now directly owns 44,392 shares of the company’s stock, valued at approximately $1,027,230.88. The disclosure for this purchase can be found here. Corporate insiders own 2.37% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in HPP. American International Group Inc. lifted its holdings in Hudson Pacific Properties by 162.7% during the 4th quarter. American International Group Inc. now owns 6,463 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 4,003 shares during the last quarter. M&T Bank Corp bought a new position in Hudson Pacific Properties during the 4th quarter worth approximately $201,000. Rafferty Asset Management LLC lifted its holdings in Hudson Pacific Properties by 9.0% during the 4th quarter. Rafferty Asset Management LLC now owns 29,113 shares of the real estate investment trust’s stock worth $1,096,000 after buying an additional 2,414 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Hudson Pacific Properties by 18.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 36,035 shares of the real estate investment trust’s stock worth $1,357,000 after buying an additional 5,687 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in Hudson Pacific Properties during the 4th quarter worth approximately $1,923,000.

NYSE:HPP traded up $0.13 on Monday, hitting $25.29. 1,097,700 shares of the stock were exchanged, compared to its average volume of 2,097,745. The stock has a market cap of $3.86 billion, a PE ratio of 42.57, a PEG ratio of 1.79 and a beta of 0.78. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.02. The stock has a fifty day moving average of $24.49 and a 200-day moving average of $29.44. Hudson Pacific Properties has a fifty-two week low of $16.14 and a fifty-two week high of $38.81.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Friday, June 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Thursday, June 18th. Hudson Pacific Properties’s dividend payout ratio is currently 49.26%.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

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Earnings History and Estimates for Hudson Pacific Properties (NYSE:HPP)

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