Hudson Pacific Properties (NYSE:HPP) Releases Quarterly Earnings Results, Misses Estimates By $0.42 EPS

Hudson Pacific Properties (NYSE:HPP) issued its earnings results on Wednesday. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.42), Fidelity Earnings reports. Hudson Pacific Properties had a net margin of 1.68% and a return on equity of 0.33%. The company had revenue of $196.66 million during the quarter, compared to analyst estimates of $199.85 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Hudson Pacific Properties updated its FY19 guidance to $1.98-2.04 EPS.

NYSE:HPP traded down $0.04 during trading hours on Friday, reaching $34.36. 25,116 shares of the company’s stock were exchanged, compared to its average volume of 647,960. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 2.89 and a beta of 0.67. The firm’s 50-day moving average is $34.31. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.85. Hudson Pacific Properties has a 1-year low of $27.12 and a 1-year high of $36.19.

Several research analysts have recently issued reports on the stock. TheStreet cut shares of Hudson Pacific Properties from a “b” rating to a “c” rating in a report on Friday, May 3rd. Zacks Investment Research cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.00.

In related news, insider Alex Vouvalides sold 43,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $35.10, for a total transaction of $1,509,300.00. Following the completion of the sale, the insider now owns 130,940 shares in the company, valued at approximately $4,595,994. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher James Barton sold 27,756 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $34.67, for a total transaction of $962,300.52. Following the sale, the executive vice president now owns 89,609 shares of the company’s stock, valued at approximately $3,106,744.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,591 shares of company stock valued at $4,427,861. 1.95% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Long Pond Capital LP boosted its stake in Hudson Pacific Properties by 3.8% during the 1st quarter. Long Pond Capital LP now owns 6,249,674 shares of the real estate investment trust’s stock worth $215,114,000 after purchasing an additional 230,500 shares during the period. Winslow Asset Management Inc. boosted its stake in Hudson Pacific Properties by 12.0% during the 1st quarter. Winslow Asset Management Inc. now owns 169,858 shares of the real estate investment trust’s stock worth $5,847,000 after purchasing an additional 18,263 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its stake in Hudson Pacific Properties by 3.5% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 649,907 shares of the real estate investment trust’s stock worth $22,370,000 after purchasing an additional 22,092 shares during the period. Forsta AP Fonden lifted its stake in shares of Hudson Pacific Properties by 13.2% in the 1st quarter. Forsta AP Fonden now owns 25,700 shares of the real estate investment trust’s stock worth $885,000 after acquiring an additional 3,000 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Hudson Pacific Properties by 3.1% in the 1st quarter. Swiss National Bank now owns 285,550 shares of the real estate investment trust’s stock worth $9,829,000 after acquiring an additional 8,500 shares during the period.

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 for Hudson Pacific Properties (NYSE:HPP)

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