Hudson Pacific Properties Inc (NYSE:HPP) announced a quarterly dividend on Friday, June 7th, Fidelity reports. Stockholders of record on Monday, June 17th will be paid a dividend of 0.25 per share by the real estate investment trust on Thursday, June 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, June 14th.
Hudson Pacific Properties has raised 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% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hudson Pacific Properties to earn $2.16 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 46.3%.
Shares of NYSE HPP opened at $34.09 on Thursday. The company has a market cap of $5.31 billion, a P/E ratio of 17.96, a PEG ratio of 2.66 and a beta of 0.72. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.85. Hudson Pacific Properties has a 52-week low of $27.12 and a 52-week high of $35.89.
In other Hudson Pacific Properties news, insider Alex Vouvalides sold 43,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $35.10, for a total value of $1,509,300.00. Following the transaction, the insider now owns 130,940 shares of the company’s stock, valued at $4,595,994. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christopher James Barton sold 27,756 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $34.67, for a total transaction of $962,300.52. Following the completion of the transaction, the executive vice president now directly owns 89,609 shares in the company, valued at approximately $3,106,744.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,591 shares of company stock worth $4,427,861. Insiders own 1.95% of the company’s stock.
HPP has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Thursday, May 30th. TheStreet cut shares of Hudson Pacific Properties from a “b” rating to a “c” rating in a report on Friday, May 3rd. Sandler O’Neill upgraded shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Finally, Goldman Sachs Group upgraded shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $40.00 in a report on Monday, March 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.00.
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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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