Zacks: Analysts Anticipate Hudson Pacific Properties Inc (NYSE:HPP) to Post $0.53 Earnings Per Share

Wall Street analysts expect that Hudson Pacific Properties Inc (NYSE:HPP) will post earnings per share of $0.53 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Hudson Pacific Properties’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.51. Hudson Pacific Properties posted earnings of $0.49 per share in the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The company is scheduled to issue its next earnings report on Thursday, February 13th.

According to Zacks, analysts expect that Hudson Pacific Properties will report full year earnings of $2.03 per share for the current financial year, with EPS estimates ranging from $2.02 to $2.03. For the next financial year, analysts anticipate that the company will post earnings of $2.18 per share, with EPS estimates ranging from $2.12 to $2.22. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Hudson Pacific Properties.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). Hudson Pacific Properties had a return on equity of 1.27% and a net margin of 5.94%. The company had revenue of $208.20 million during the quarter, compared to analysts’ expectations of $204.82 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year.

Several research analysts have recently weighed in on HPP shares. Goldman Sachs Group began coverage on shares of Hudson Pacific Properties in a research note on Friday, November 8th. They issued a “buy” rating and a $41.00 target price for the company. Robert W. Baird set a $40.00 price target on shares of Hudson Pacific Properties and gave the company a “buy” rating in a report on Wednesday, August 21st. Barclays set a $42.00 price target on shares of Hudson Pacific Properties and gave the stock a “buy” rating in a research note on Friday, October 11th. Zacks Investment Research lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BTIG Research set a $40.00 price objective on shares of Hudson Pacific Properties and gave the company a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $40.60.

Shares of HPP traded up $0.07 during mid-day trading on Wednesday, reaching $35.90. 39,561 shares of the stock traded hands, compared to its average volume of 516,244. The stock has a fifty day simple moving average of $34.97 and a 200 day simple moving average of $34.22. Hudson Pacific Properties has a 12-month low of $27.12 and a 12-month high of $36.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.86. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 3.29 and a beta of 0.63.

In other Hudson Pacific Properties news, EVP Sanford Dale Shimoda sold 5,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.52, for a total transaction of $177,600.00. Following the sale, the executive vice president now directly owns 93,971 shares in the company, valued at approximately $3,337,849.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.95% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of HPP. PGGM Investments grew its position in shares of Hudson Pacific Properties by 1,520.9% in the 2nd quarter. PGGM Investments now owns 10,485,038 shares of the real estate investment trust’s stock worth $348,837,000 after acquiring an additional 9,838,178 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Hudson Pacific Properties by 114.2% in the second quarter. Nuveen Asset Management LLC now owns 3,249,766 shares of the real estate investment trust’s stock worth $108,120,000 after purchasing an additional 1,732,763 shares during the period. Cohen & Steers Inc. boosted its holdings in Hudson Pacific Properties by 3.7% in the second quarter. Cohen & Steers Inc. now owns 18,490,374 shares of the real estate investment trust’s stock worth $615,175,000 after purchasing an additional 665,412 shares during the period. JPMorgan Chase & Co. increased its stake in Hudson Pacific Properties by 30.0% during the second quarter. JPMorgan Chase & Co. now owns 1,849,876 shares of the real estate investment trust’s stock valued at $60,898,000 after purchasing an additional 426,713 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Hudson Pacific Properties by 76.5% during the second quarter. Allianz Asset Management GmbH now owns 806,056 shares of the real estate investment trust’s stock valued at $26,817,000 after purchasing an additional 349,291 shares during the last quarter.

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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Earnings History and Estimates for Hudson Pacific Properties (NYSE:HPP)

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