Hudson Pacific Properties Inc (NYSE:HPP) declared a quarterly dividend on Tuesday, September 10th, Zacks reports. Investors of record on Friday, September 20th will be paid a dividend of 0.25 per share by the real estate investment trust on Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Thursday, September 19th.
Hudson Pacific Properties has increased its dividend payment by an average of 38.7% per year over the last three years. Hudson Pacific Properties has a dividend payout ratio of 53.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Hudson Pacific Properties to earn $2.18 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.9%.
Hudson Pacific Properties stock traded up $0.56 during mid-day trading on Wednesday, hitting $34.40. 29,979 shares of the company’s stock traded hands, compared to its average volume of 566,411. The firm has a 50 day moving average price of $34.04 and a 200 day moving average price of $34.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.89. The company has a market cap of $5.25 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.83 and a beta of 0.68. Hudson Pacific Properties has a one year low of $27.12 and a one year high of $36.19.
In other Hudson Pacific Properties news, CEO Victor J. Coleman sold 38,749 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $33.63, for a total value of $1,303,128.87. Following the sale, the chief executive officer now directly owns 686,901 shares in the company, valued at $23,100,480.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Glaser purchased 1,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $33.05 per share, with a total value of $33,050.00. Following the completion of the acquisition, the director now directly owns 127,649 shares in the company, valued at approximately $4,218,799.45. The disclosure for this purchase can be found here. Company insiders own 1.95% of the company’s stock.
HPP has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Robert W. Baird set a $40.00 price objective on shares of Hudson Pacific Properties and gave the company a “buy” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Hudson Pacific Properties currently has an average rating of “Buy” and a consensus target price of $38.50.
About Hudson Pacific Properties
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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