Q2 2024 EPS Estimates for Hudson Pacific Properties, Inc. Reduced by Wedbush (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) - Research analysts at Wedbush cut their Q2 2024 earnings per share estimates for Hudson Pacific Properties in a research note issued on Wednesday, May 8th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $0.17 for the quarter, down from their previous estimate of $0.20. Wedbush has a "Neutral" rating and a $7.50 price objective on the stock. The consensus estimate for Hudson Pacific Properties' current full-year earnings is $1.05 per share. Wedbush also issued estimates for Hudson Pacific Properties' Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.19 EPS.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last issued its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $223.42 million during the quarter, compared to analysts' expectations of $223.93 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The firm's revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share.

A number of other research firms have also weighed in on HPP. Wolfe Research raised Hudson Pacific Properties from a "peer perform" rating to an "outperform" rating and set a $8.40 price objective on the stock in a research note on Monday, March 18th. Piper Sandler reiterated an "overweight" rating and issued a $7.00 target price (down from $9.00) on shares of Hudson Pacific Properties in a report on Friday, May 3rd. The Goldman Sachs Group reduced their price target on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Morgan Stanley cut their target price on Hudson Pacific Properties from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $8.49.

Hudson Pacific Properties Price Performance

HPP remained flat at $5.43 on Friday. 1,706,316 shares of the company were exchanged, compared to its average volume of 2,586,005. The firm has a market capitalization of $765.71 million, a PE ratio of -3.40, a PEG ratio of 0.46 and a beta of 1.31. The company has a current ratio of 1.85, a quick ratio of 1.79 and a debt-to-equity ratio of 1.38. Hudson Pacific Properties has a 52-week low of $4.05 and a 52-week high of $9.85. The business has a fifty day moving average price of $6.15 and a two-hundred day moving average price of $6.85.

Hudson Pacific Properties Announces Dividend

The business also recently declared a -- dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties's dividend payout ratio is currently -12.50%.

Insider Activity

In related news, CIO Drew Gordon sold 10,000 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.11, for a total transaction of $71,100.00. Following the sale, the executive now directly owns 116,694 shares in the company, valued at $829,694.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the sale, the executive now directly owns 116,694 shares in the company, valued at $829,694.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barry A. Sholem bought 40,000 shares of the business's stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the transaction, the director now directly owns 70,176 shares in the company, valued at approximately $469,477.44. The disclosure for this purchase can be found here. Company insiders own 2.95% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. increased its position in Hudson Pacific Properties by 103,925.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 4,157 shares during the period. Quantbot Technologies LP purchased a new position in Hudson Pacific Properties in the 3rd quarter valued at $58,000. Optas LLC acquired a new position in Hudson Pacific Properties in the 3rd quarter valued at $67,000. Paces Ferry Wealth Advisors LLC purchased a new position in Hudson Pacific Properties during the 3rd quarter worth $71,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Hudson Pacific Properties by 42.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust's stock worth $72,000 after acquiring an additional 2,286 shares during the period. 97.58% of the stock is owned by hedge funds and other institutional investors.

About Hudson Pacific Properties

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.