Analysts Expect Hudson Pacific Properties, Inc. (NYSE:HPP) Will Announce Quarterly Sales of $243.88 Million

Equities research analysts expect Hudson Pacific Properties, Inc. (NYSE:HPPGet Rating) to post sales of $243.88 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Hudson Pacific Properties’ earnings. The lowest sales estimate is $234.90 million and the highest is $252.85 million. Hudson Pacific Properties reported sales of $215.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.1%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Hudson Pacific Properties will report full year sales of $982.52 million for the current financial year, with estimates ranging from $950.80 million to $1.01 billion. For the next year, analysts expect that the company will post sales of $1.01 billion, with estimates ranging from $978.80 million to $1.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Hudson Pacific Properties.

Hudson Pacific Properties (NYSE:HPPGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.63). Hudson Pacific Properties had a negative return on equity of 0.27% and a negative net margin of 1.08%. During the same quarter in the prior year, the company earned $0.48 EPS.

A number of analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of Hudson Pacific Properties from $32.00 to $28.00 in a research report on Thursday, January 27th. Robert W. Baird downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $29.00 in a report on Wednesday, January 12th. Zacks Investment Research downgraded shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a report on Monday. StockNews.com began coverage on shares of Hudson Pacific Properties in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Mizuho downgraded shares of Hudson Pacific Properties from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $29.00 to $24.50 in a report on Thursday, January 20th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.35.

Several hedge funds have recently added to or reduced their stakes in HPP. New York State Common Retirement Fund raised its holdings in shares of Hudson Pacific Properties by 17.8% during the third quarter. New York State Common Retirement Fund now owns 242,804 shares of the real estate investment trust’s stock valued at $6,378,000 after acquiring an additional 36,743 shares during the period. Van ECK Associates Corp grew its position in Hudson Pacific Properties by 16.8% during the third quarter. Van ECK Associates Corp now owns 6,956 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 1,000 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Hudson Pacific Properties by 4.5% during the third quarter. Treasurer of the State of North Carolina now owns 53,379 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 2,319 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Hudson Pacific Properties by 5.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,804 shares of the real estate investment trust’s stock valued at $1,597,000 after purchasing an additional 3,261 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Hudson Pacific Properties by 453.8% during the third quarter. Deutsche Bank AG now owns 939,692 shares of the real estate investment trust’s stock valued at $24,685,000 after purchasing an additional 770,003 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

HPP stock opened at $23.05 on Wednesday. Hudson Pacific Properties has a 52 week low of $21.97 and a 52 week high of $30.35. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -192.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.87. The firm’s 50-day moving average is $26.21 and its two-hundred day moving average is $25.67. The company has a current ratio of 1.51, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, March 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.34%. Hudson Pacific Properties’s dividend payout ratio is currently -833.26%.

About Hudson Pacific Properties (Get Rating)

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. 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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Earnings History and Estimates for Hudson Pacific Properties (NYSE:HPP)

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