Hudson Pacific Properties, Inc. (NYSE:HPP) Expected to Earn Q3 2024 Earnings of $0.10 Per Share

Hudson Pacific Properties, Inc. (NYSE:HPP) – Wedbush decreased their Q3 2024 EPS estimates for shares of Hudson Pacific Properties in a report issued on Monday, August 12th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $0.10 per share for the quarter, down from their prior estimate of $0.20. The consensus estimate for Hudson Pacific Properties’ current full-year earnings is $0.83 per share. Wedbush also issued estimates for Hudson Pacific Properties’ Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.54 EPS and FY2025 earnings at $0.57 EPS.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. The firm had revenue of $218.00 million for the quarter, compared to the consensus estimate of $216.08 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year.

HPP has been the topic of a number of other reports. The Goldman Sachs Group cut their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler cut shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their price target for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $6.00 to $4.25 in a research note on Wednesday, July 10th. Finally, BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.29.

Hudson Pacific Properties Price Performance

Shares of HPP stock opened at $4.70 on Wednesday. Hudson Pacific Properties has a twelve month low of $4.26 and a twelve month high of $9.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. The business’s fifty day moving average is $5.10 and its 200 day moving average is $5.83. The stock has a market cap of $662.68 million, a price-to-earnings ratio of -2.93, a PEG ratio of 0.76 and a beta of 1.32.

Hudson Pacific Properties Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.26%. Hudson Pacific Properties’s dividend payout ratio is currently -12.50%.

Insider Activity

In other Hudson Pacific Properties news, CEO Victor J. Coleman sold 100,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total value of $518,000.00. Following the transaction, the chief executive officer now directly owns 387,451 shares in the company, valued at $2,006,996.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 13,420 shares of company stock valued at $59,912 in the last quarter. 2.95% of the stock is currently owned by insiders.

Institutional Trading of Hudson Pacific Properties

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Key Client Fiduciary Advisors LLC purchased a new position in shares of Hudson Pacific Properties during the 2nd quarter valued at about $53,000. Versor Investments LP bought a new stake in Hudson Pacific Properties during the 4th quarter worth approximately $99,000. First Trust Direct Indexing L.P. purchased a new position in Hudson Pacific Properties during the fourth quarter valued at approximately $102,000. GAMMA Investing LLC bought a new position in shares of Hudson Pacific Properties in the fourth quarter worth approximately $102,000. Finally, NorthRock Partners LLC purchased a new stake in shares of Hudson Pacific Properties in the first quarter worth $104,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

About Hudson Pacific Properties

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.