Hudson Pacific Properties (NYSE:HPP) Updates Q2 2024 Earnings Guidance

Hudson Pacific Properties (NYSE:HPP - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.150-0.190 for the period, compared to the consensus EPS estimate of 0.160. The company issued revenue guidance of -.

Hudson Pacific Properties Stock Down 2.2 %

NYSE:HPP traded down $0.12 during mid-day trading on Wednesday, reaching $5.68. The stock had a trading volume of 4,487,670 shares, compared to its average volume of 2,596,767. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $801.03 million, a P/E ratio of -4.15, a PEG ratio of 0.50 and a beta of 1.30. The business's 50 day moving average is $6.30 and its 200 day moving average is $6.87. Hudson Pacific Properties has a fifty-two week low of $4.05 and a fifty-two week high of $9.85.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last released its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. Hudson Pacific Properties had a negative net margin of 19.20% and a negative return on equity of 5.74%. The business had revenue of $223.42 million for the quarter, compared to the consensus estimate of $223.93 million. During the same quarter last year, the firm earned $0.49 EPS. Hudson Pacific Properties's revenue for the quarter was down 17.2% on a year-over-year basis. As a group, sell-side analysts predict that Hudson Pacific Properties will post 1.05 earnings per share for the current year.

Hudson Pacific Properties Dividend Announcement

The firm also recently declared a -- dividend, which was paid on Thursday, March 28th. Stockholders 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 -14.60%.

Analysts Set New Price Targets

HPP has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an equal weight rating for the company in a report on Thursday, March 28th. Jefferies Financial Group upgraded Hudson Pacific Properties from a hold rating to a buy rating and boosted their price objective for the company from $6.00 to $12.00 in a research report on Tuesday, January 2nd. Piper Sandler reduced their target price on Hudson Pacific Properties from $11.00 to $9.00 and set an overweight rating for the company in a research report on Friday, March 22nd. BMO Capital Markets boosted their price target on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the company an outperform rating in a report on Thursday, January 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Hudson Pacific Properties from $7.10 to $10.60 and gave the company a neutral rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $9.05.

Insider Transactions at Hudson Pacific Properties

In other news, Director Barry A. Sholem acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the transaction, the director now directly owns 70,176 shares in the company, valued at $469,477.44. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CIO Drew Gordon sold 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were 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 approximately $829,694.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry A. Sholem bought 40,000 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was purchased at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the acquisition, the director now owns 70,176 shares of the company's stock, valued at approximately $469,477.44. The disclosure for this purchase can be found here. 3.92% of the stock is owned by company insiders.

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.

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