Hudson Pacific Properties, Inc. (NYSE:HPP) Expected to Announce Quarterly Sales of $244.38 Million

Brokerages expect Hudson Pacific Properties, Inc. (NYSE:HPPGet Rating) to report sales of $244.38 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Hudson Pacific Properties’ earnings, with estimates ranging from $235.90 million to $252.85 million. Hudson Pacific Properties posted sales of $215.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Hudson Pacific Properties will report full year sales of $986.37 million for the current year, with estimates ranging from $958.50 million to $1.01 billion. For the next year, analysts expect that the business will report sales of $1.02 billion, with estimates ranging from $980.90 million to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Hudson Pacific Properties.

Hudson Pacific Properties (NYSE:HPPGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.50 by ($0.63). Hudson Pacific Properties had a negative net margin of 1.08% and a negative return on equity of 0.27%. The business had revenue of $244.51 million during the quarter, compared to the consensus estimate of $241.98 million. During the same quarter in the prior year, the firm posted $0.48 EPS.

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Hudson Pacific Properties in a research note on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group reduced their price objective on shares of Hudson Pacific Properties from $32.00 to $28.00 in a research note on Thursday, January 27th. Piper Sandler reduced their price objective on shares of Hudson Pacific Properties from $28.00 to $25.00 in a research note on Wednesday, May 4th. Finally, Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.05.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Capital Group LLC raised its stake in shares of Hudson Pacific Properties by 240.1% during the 1st quarter. Private Capital Group LLC now owns 942 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 665 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Hudson Pacific Properties in the 3rd quarter valued at about $47,000. Rockefeller Capital Management L.P. increased its stake in shares of Hudson Pacific Properties by 20.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,923 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 851 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Hudson Pacific Properties in the 3rd quarter valued at about $135,000. Finally, Group One Trading L.P. purchased a new position in shares of Hudson Pacific Properties in the 1st quarter valued at about $149,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

NYSE:HPP opened at $20.22 on Tuesday. Hudson Pacific Properties has a one year low of $19.44 and a one year high of $30.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $2.92 billion, a P/E ratio of -168.49, a P/E/G ratio of 2.24 and a beta of 0.87. The firm has a 50-day simple moving average of $24.64 and a 200-day simple moving average of $25.13.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Monday, March 21st were given 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 yield of 4.95%. 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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