Hudson Pacific Properties Inc (NYSE:HPP) declared a quarterly dividend on Friday, June 7th, Fidelity reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.25 per share by the real estate investment trust on Thursday, June 27th. This represents a $1.00 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, June 14th.
Hudson Pacific Properties has raised its dividend payment by an average of 38.7% per year over the last three years. Hudson Pacific Properties has a payout ratio of 53.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hudson Pacific Properties to earn $2.16 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 46.3%.
Shares of NYSE HPP traded up $0.05 during mid-day trading on Monday, hitting $33.32. The company had a trading volume of 574,625 shares, compared to its average volume of 840,031. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50-day moving average price is $33.89. Hudson Pacific Properties has a 12 month low of $27.12 and a 12 month high of $35.89. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.58 and a beta of 0.67.
A number of research analysts recently commented on HPP shares. Goldman Sachs Group upgraded shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating and upped their price target for the company from $37.00 to $40.00 in a research note on Monday, March 11th. Zacks Investment Research raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, April 25th. Finally, TheStreet downgraded shares of Hudson Pacific Properties from a “b” rating to a “c” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Hudson Pacific Properties currently has an average rating of “Buy” and an average price target of $37.00.
In other news, EVP Christopher James Barton sold 27,756 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $34.67, for a total transaction of $962,300.52. Following the completion of the sale, the executive vice president now directly owns 89,609 shares in the company, valued at $3,106,744.03. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark T. Lammas sold 56,835 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $34.42, for a total transaction of $1,956,260.70. Following the sale, the chief financial officer now owns 256,257 shares of the company’s stock, valued at $8,820,365.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,591 shares of company stock valued at $4,427,861. 1.95% of the stock is currently owned by corporate insiders.
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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