Hudson Pacific Properties Inc Forecasted to Earn FY2019 Earnings of $2.01 Per Share (NYSE:HPP)

Hudson Pacific Properties Inc (NYSE:HPP) – Equities research analysts at KeyCorp dropped their FY2019 EPS estimates for shares of Hudson Pacific Properties in a report issued on Monday, July 8th. KeyCorp analyst C. Mailman now forecasts that the real estate investment trust will post earnings of $2.01 per share for the year, down from their prior forecast of $2.02.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. Hudson Pacific Properties had a return on equity of 0.33% and a net margin of 1.68%. The firm had revenue of $197.39 million during the quarter, compared to the consensus estimate of $194.62 million. During the same period in the prior year, the company earned $0.45 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year.

A number of other brokerages also recently issued reports on HPP. TheStreet downgraded Viewray from a “c-” rating to a “d” rating in a research note on Friday, May 3rd. Zacks Investment Research raised SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Hudson Pacific Properties has a consensus rating of “Buy” and a consensus target price of $37.00.

Shares of HPP opened at $34.98 on Thursday. Hudson Pacific Properties has a 52-week low of $27.12 and a 52-week high of $35.89. The firm has a market cap of $5.42 billion, a P/E ratio of 18.81, a PEG ratio of 2.72 and a beta of 0.67. The business has a fifty day moving average of $33.94. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.85.

Several large investors have recently modified their holdings of HPP. Norges Bank acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter worth about $45,526,000. Zimmer Partners LP acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter worth about $36,543,000. JPMorgan Chase & Co. increased its position in shares of Hudson Pacific Properties by 315.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,423,163 shares of the real estate investment trust’s stock worth $48,985,000 after purchasing an additional 1,080,789 shares during the last quarter. BlackRock Inc. increased its position in shares of Hudson Pacific Properties by 9.3% during the 1st quarter. BlackRock Inc. now owns 12,393,998 shares of the real estate investment trust’s stock worth $426,601,000 after purchasing an additional 1,055,300 shares during the last quarter. Finally, Northwood Liquid Management LP acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter worth about $20,680,000.

In related news, CFO Mark T. Lammas sold 56,835 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 256,257 shares of the company’s stock, valued at approximately $8,820,365.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Vouvalides sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $35.10, for a total value of $1,509,300.00. Following the sale, the insider now directly owns 130,940 shares of the company’s stock, valued at $4,595,994. The disclosure for this sale can be found here. Insiders sold a total of 127,591 shares of company stock valued at $4,427,861 over the last ninety days. Corporate insiders own 1.95% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, June 14th. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 53.76%.

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.

Further Reading: Cost of Debt

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

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