Research Analysts Offer Predictions for HPP FY2024 Earnings

Hudson Pacific Properties, Inc. (NYSE:HPP) – Wedbush reduced their FY2024 earnings estimates for shares of Hudson Pacific Properties in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings per share of $0.53 for the year, down from their previous 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.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their target price for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Scotiabank lowered their target price on shares of 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. Wolfe Research cut shares of 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 reduced their price objective for the stock 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 assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.17.

Hudson Pacific Properties Stock Down 7.3 %

NYSE HPP 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 company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $519.73 million, a P/E ratio of -1.76 and a beta of 1.31. The stock’s 50-day moving average price is $4.60 and its 200-day moving average price is $4.94.

Insider Buying and Selling

In other news, Director Jonathan M. Glaser sold 9,287 shares of the company’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 sale, the director now directly owns 3,713 shares of the company’s stock, valued at $19,307.60. This represents a 71.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 13.29 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in Hudson Pacific Properties by 549.1% in the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 5,013 shares during the period. Venturi Wealth Management LLC acquired a new stake in Hudson Pacific Properties during the third quarter worth $44,000. Stifel Financial Corp purchased a new position in Hudson Pacific Properties during the third quarter worth about $48,000. Key Client Fiduciary Advisors LLC acquired a new stake in Hudson Pacific Properties in the 2nd quarter valued at approximately $53,000. Finally, MQS Management LLC purchased a new position in Hudson Pacific Properties during the 3rd quarter valued at about $58,000. 97.58% of the stock is owned by institutional investors and hedge funds.

Hudson Pacific Properties 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.