KeyCorp Analysts Decrease Earnings Estimates for Hudson Pacific Properties Inc (HPP)

Hudson Pacific Properties Inc (NYSE:HPP) – Stock analysts at KeyCorp decreased their FY2019 earnings per share estimates for shares of Hudson Pacific Properties in a note issued to investors on Sunday, December 2nd. KeyCorp analyst C. Mailman now expects that the real estate investment trust will post earnings per share of $1.98 for the year, down from their prior estimate of $2.04.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.36). The company had revenue of $180.70 million during the quarter, compared to analyst estimates of $175.92 million. Hudson Pacific Properties had a net margin of 15.99% and a return on equity of 2.93%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS.

Several other equities research analysts have also recently weighed in on HPP. Mizuho restated a “hold” rating and issued a $34.00 price objective on shares of Hudson Pacific Properties in a research report on Monday, August 6th. TheStreet cut shares of Hudson Pacific Properties from a “b” rating to a “c+” rating in a research report on Wednesday, August 8th. Robert W. Baird cut shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Tuesday, August 21st. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Scotiabank initiated coverage on shares of Hudson Pacific Properties in a research report on Tuesday, October 16th. They issued an “outperform” rating for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Hudson Pacific Properties presently has an average rating of “Buy” and a consensus target price of $37.67.

HPP opened at $31.41 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 2.91 and a beta of 0.67. Hudson Pacific Properties has a 1-year low of $28.25 and a 1-year high of $36.06.

In related news, Director Jonathan M. Glaser bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were purchased at an average cost of $29.74 per share, for a total transaction of $148,700.00. Following the acquisition, the director now owns 129,468 shares of the company’s stock, valued at approximately $3,850,378.32. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan M. Glaser bought 6,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were bought at an average price of $32.97 per share, for a total transaction of $197,820.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,957 shares of company stock worth $405,445 over the last 90 days. Corporate insiders own 1.93% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can bought a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth about $1,014,000. Nisa Investment Advisors LLC bought a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth about $277,000. BNP Paribas Arbitrage SA increased its position in shares of Hudson Pacific Properties by 126.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 76,665 shares of the real estate investment trust’s stock worth $2,716,000 after purchasing an additional 42,810 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth about $230,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth about $4,014,000.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties, Inc is areal estate company. It owns, operates, develops and acquires office, media, and entertainment properties. The company operates through two segments: Office Properties and Media & Entertainment Properties. The Office Properties segment manages office properties located in California and Pacific Northwest.

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

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