Equities research analysts expect Hudson Pacific Properties Inc (NYSE:HPP) to announce $0.47 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Hudson Pacific Properties’ earnings. The highest EPS estimate is $0.48 and the lowest is $0.45. Hudson Pacific Properties posted earnings of $0.48 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.1%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, August 1st.
According to Zacks, analysts expect that Hudson Pacific Properties will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.93. For the next financial year, analysts expect that the company will post earnings of $2.11 per share, with EPS estimates ranging from $2.02 to $2.15. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Hudson Pacific Properties.
Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.15). The company had revenue of $174.12 million during the quarter, compared to the consensus estimate of $173.65 million. Hudson Pacific Properties had a net margin of 13.47% and a return on equity of 2.44%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share.
In related news, CEO Victor J. Coleman sold 46,213 shares of Hudson Pacific Properties stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $35.91, for a total value of $1,659,508.83. Following the transaction, the chief executive officer now directly owns 959,765 shares of the company’s stock, valued at $34,465,161.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur X. Suazo sold 10,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $35.53, for a total transaction of $355,300.00. Following the completion of the transaction, the executive vice president now directly owns 102,995 shares in the company, valued at $3,659,412.35. The disclosure for this sale can be found here. Insiders sold 78,213 shares of company stock worth $2,794,149 over the last three months. 1.93% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in HPP. Wells Fargo & Company MN increased its stake in Hudson Pacific Properties by 11.8% in the fourth quarter. Wells Fargo & Company MN now owns 781,739 shares of the real estate investment trust’s stock valued at $26,774,000 after acquiring an additional 82,807 shares during the last quarter. American International Group Inc. acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $113,000. Amalgamated Bank boosted its position in Hudson Pacific Properties by 6.2% in the fourth quarter. Amalgamated Bank now owns 30,114 shares of the real estate investment trust’s stock valued at $1,031,000 after buying an additional 1,768 shares in the last quarter. Geode Capital Management LLC boosted its position in Hudson Pacific Properties by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,561,120 shares of the real estate investment trust’s stock valued at $53,468,000 after buying an additional 38,643 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $3,816,000.
Shares of Hudson Pacific Properties opened at $35.67 on Thursday, according to Marketbeat. Hudson Pacific Properties has a 12 month low of $28.25 and a 12 month high of $36.06. The company has a market cap of $5.59 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 3.25 and a beta of 0.70. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.57.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Tuesday, June 19th were paid a $0.25 dividend. The ex-dividend date was Monday, June 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.80%. Hudson Pacific Properties’s dividend payout ratio (DPR) is 50.25%.
About Hudson Pacific Properties
Hudson Pacific Properties is a vertically integrated real estate Company focused on acquiring, repositioning, developing and operating high-quality office and state-of-the-art studio properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value.
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