Hudson Pacific Properties (NYSE:HPP) Issues Q4 Earnings Guidance

Hudson Pacific Properties (NYSE:HPP) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.09-0.13 for the period, compared to the consensus EPS estimate of $0.11. Hudson Pacific Properties also updated its Q4 2024 guidance to 0.090-0.130 EPS.

Hudson Pacific Properties Stock Performance

Shares of HPP stock traded down $0.03 during mid-day trading on Thursday, reaching $4.18. The stock had a trading volume of 288,470 shares, compared to its average volume of 2,381,979. Hudson Pacific Properties has a 1-year low of $4.04 and a 1-year high of $9.85. The firm has a market cap of $590.34 million, a price-to-earnings ratio of -2.02 and a beta of 1.31. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The business’s fifty day moving average is $4.64 and its 200-day moving average is $4.97.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HPP shares. Bank of America decreased their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their target price for the stock from $5.50 to $5.00 in a research note on Tuesday. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Finally, Scotiabank lowered their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.30.

Insider Transactions at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.