Hudson Pacific Properties Inc. (NYSE:HPP) shares traded -2.57% lower at $7.21 on Wall Street last session.
In accordance with the data, 12 analysts cover Hudson Pacific Properties Inc. (NYSE:HPP). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $4.00, we find $6.00. Given the previous closing price of $7.40, this indicates a potential downside of -18.92 percent. HPP stock price is now 24.11% away from the 50-day moving average and -1.50% away from the 200-day moving average. The market capitalization of the company currently stands at $1.04B.
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It has been rated a hold by 9 analysts and a buy by 1. Brokers who have rated the stock have averaged $6.45 as their price target over the next twelve months.
With the price target enhanced from $6 to $9, Piper Sandler Upgraded its rating from Neutral to Overweight for Hudson Pacific Properties Inc. (NYSE: HPP).
In other news, Suazo Arthur X., EVP, Leasing bought 10,000 shares of the company’s stock on Mar 28. The stock was bought for $58,600 at an average price of $5.86. Upon completion of the transaction, the EVP, Leasing now directly owns 87,102 shares in the company, valued at $0.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 27, Chief Investment Officer Gordon Drew bought 25,000 shares of the business’s stock. A total of $149,000 was incurred on buying the stock at an average price of $5.96. This leaves the insider owning 116,958 shares of the company worth $0.84 million. Insiders disposed of 12,659 shares of company stock worth roughly $91271.39 over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HPP stock. A new stake in Hudson Pacific Properties Inc. shares was purchased by KENNEDY CAPITAL MANAGEMENT LLC during the first quarter worth $3,368,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC invested $2,163,000 in shares of HPP during the first quarter. In the first quarter, SCION ASSET MANAGEMENT, LLC acquired a new stake in Hudson Pacific Properties Inc. valued at approximately $1,803,000. PURSUE WEALTH PARTNERS LLC acquired a new stake in HPP for approximately $1,766,000. GSA CAPITAL PARTNERS LLP purchased a new stake in HPP valued at around $1,630,000 in the second quarter. In total, there are 353 active investors with 107.78% ownership of the company’s stock.
Hudson Pacific Properties Inc. (NYSE: HPP) opened at $6.87 on Friday. During the past 12 months, Hudson Pacific Properties Inc. has had a low of $4.05 and a high of $14.67. The fifty day moving average price for HPP is $5.87 and a two-hundred day moving average price translates $7.30 for the stock.
The latest earnings results from Hudson Pacific Properties Inc. (NYSE: HPP) was released for Jun, 2023. According to the REIT – Office Company, earnings per share came in at -$0.26, beating analysts’ expectations of -$0.32 by 0.06. This compares to -$0.05 EPS in the same period last year. The net profit margin was -8.40% and return on equity was -3.00% for HPP. The company reported revenue of $245.17 million for the quarter, compared to $251.43 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.49 percent. For the current quarter, analysts expect HPP to generate $235.48M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/20/2023 were paid a $0.125 dividend. On an annualized basis, this represents a $0.50 dividend and a 6.93% percent yield. There was an ex-dividend date of 06/16/2023 for this dividend.
Hudson Pacific Properties Inc.(HPP) Company Profile
Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.
