Hudson Pacific Properties Inc (NYSE:HPP) Declares $0.25 Quarterly Dividend

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Hudson Pacific Properties Inc (NYSE:HPP) declared a quarterly dividend on Tuesday, September 8th, Zacks reports. Stockholders of record on Friday, September 18th will be given a dividend of 0.25 per share by the real estate investment trust on Monday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, September 17th.

Hudson Pacific Properties has raised its dividend payment by 25.0% over the last three years and has raised its dividend annually for the last 1 consecutive years.

HPP opened at $24.58 on Wednesday. Hudson Pacific Properties has a 52 week low of $16.14 and a 52 week high of $38.81. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. The firm has a 50-day simple moving average of $23.63 and a two-hundred day simple moving average of $24.47. The company has a market capitalization of $3.77 billion, a PE ratio of 43.89 and a beta of 0.68.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.47). The business had revenue of $198.61 million for the quarter, compared to the consensus estimate of $199.20 million. Hudson Pacific Properties had a net margin of 10.46% and a return on equity of 2.37%. As a group, sell-side analysts expect that Hudson Pacific Properties will post 1.98 earnings per share for the current year.

Several brokerages have recently weighed in on HPP. Piper Sandler reissued a “buy” rating and issued a $28.00 target price on shares of Hudson Pacific Properties in a research note on Monday, July 13th. ValuEngine cut Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Morgan Stanley lowered Hudson Pacific Properties from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $27.00 to $24.00 in a research note on Wednesday, June 24th. Mizuho cut their price objective on Hudson Pacific Properties from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Zacks Investment Research downgraded Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Hudson Pacific Properties has a consensus rating of “Hold” and a consensus target price of $33.56.

In other news, Director Barry Alan Porter bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $23.09 per share, for a total transaction of $115,450.00. Following the acquisition, the director now directly owns 99,594 shares of the company’s stock, valued at approximately $2,299,625.46. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.37% of the company’s stock.

Hudson Pacific Properties Company Profile

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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Dividend History for Hudson Pacific Properties (NYSE:HPP)

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