$197.63 Million in Sales Expected for Hudson Pacific Properties Inc (NYSE:HPP) This Quarter

Equities analysts predict that Hudson Pacific Properties Inc (NYSE:HPP) will report $197.63 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Hudson Pacific Properties’ earnings, with estimates ranging from $191.50 million to $203.60 million. Hudson Pacific Properties reported sales of $208.22 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.1%. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, October 29th.

According to Zacks, analysts expect that Hudson Pacific Properties will report full-year sales of $812.40 million for the current fiscal year, with estimates ranging from $787.20 million to $844.25 million. For the next year, analysts anticipate that the company will post sales of $827.06 million, with estimates ranging from $767.60 million to $873.17 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Hudson Pacific Properties.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.47). Hudson Pacific Properties had a net margin of 10.46% and a return on equity of 2.37%. The company had revenue of $198.61 million during the quarter, compared to the consensus estimate of $199.20 million.

A number of research analysts have issued reports on HPP shares. Morgan Stanley cut Hudson Pacific Properties from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $27.00 to $24.00 in a research note on Wednesday, June 24th. Wells Fargo & Company dropped their target price on shares of Hudson Pacific Properties from $32.00 to $25.50 and set an “overweight” rating on the stock in a report on Wednesday, September 23rd. Mizuho cut their price target on shares of Hudson Pacific Properties from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Zacks Investment Research downgraded shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Thursday, July 16th. Finally, ValuEngine cut shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Hudson Pacific Properties currently has an average rating of “Buy” and a consensus target price of $32.75.

In other news, Director Barry Alan Porter purchased 5,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $23.09 per share, for a total transaction of $115,450.00. Following the purchase, the director now directly owns 99,594 shares of the company’s stock, valued at approximately $2,299,625.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.37% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. WASHINGTON TRUST Co bought a new position in shares of Hudson Pacific Properties during the second quarter worth approximately $30,000. Van ECK Associates Corp increased its stake in Hudson Pacific Properties by 108.7% during the 1st quarter. Van ECK Associates Corp now owns 1,868 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 973 shares during the period. Advisor Group Holdings Inc. acquired a new position in Hudson Pacific Properties in the 1st quarter valued at $51,000. Kore Private Wealth LLC bought a new stake in shares of Hudson Pacific Properties during the 2nd quarter valued at $75,000. Finally, Rowland Carmichael Advisors Inc. ADV acquired a new stake in Hudson Pacific Properties during the second quarter worth about $202,000.

Shares of HPP stock traded up $0.35 on Monday, hitting $22.28. The stock had a trading volume of 1,536,968 shares, compared to its average volume of 1,826,540. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. Hudson Pacific Properties has a twelve month low of $16.14 and a twelve month high of $38.81. The company has a fifty day moving average price of $23.22 and a two-hundred day moving average price of $23.75. The firm has a market cap of $3.36 billion, a P/E ratio of 39.66 and a beta of 0.68.

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Friday, September 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Thursday, September 17th. Hudson Pacific Properties’s payout ratio is 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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