Research Analysts Set Expectations for HPP FY2024 Earnings

Hudson Pacific Properties, Inc. (NYSE:HPP) – Wedbush decreased their FY2024 earnings per share (EPS) estimates for shares of Hudson Pacific Properties in a research note issued to investors on Wednesday, November 13th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $0.53 per share for the year, down from their prior forecast of $0.54. The consensus estimate for Hudson Pacific Properties’ current full-year earnings is $0.54 per share. Wedbush also issued estimates for Hudson Pacific Properties’ Q4 2024 earnings at $0.10 EPS.

A number of other research analysts have also issued reports on HPP. Scotiabank dropped their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Piper Sandler reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their target price for the company from $5.50 to $5.00 in a report on Tuesday. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $8.00 to $6.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Stock Performance

Shares of HPP stock opened at $3.68 on Friday. Hudson Pacific Properties has a 52-week low of $3.66 and a 52-week high of $9.85. The stock’s 50-day moving average price is $4.60 and its 200 day moving average price is $4.95. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $519.73 million, a PE ratio of -1.76 and a beta of 1.31.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HPP. Barclays PLC lifted its holdings in Hudson Pacific Properties by 120.9% in the 3rd quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust’s stock valued at $1,168,000 after acquiring an additional 133,673 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Hudson Pacific Properties by 11.7% during the third quarter. Public Employees Retirement System of Ohio now owns 212,406 shares of the real estate investment trust’s stock valued at $1,015,000 after purchasing an additional 22,167 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Hudson Pacific Properties by 13.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 185,000 shares of the real estate investment trust’s stock worth $884,000 after buying an additional 22,300 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Hudson Pacific Properties in the third quarter worth approximately $592,000. Finally, XTX Topco Ltd bought a new position in shares of Hudson Pacific Properties in the third quarter valued at $434,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Insider Transactions at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the sale, the director now owns 3,713 shares in the company, valued at $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.95% 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.