Hudson Pacific Properties (NYSE:HPP) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.39), MarketWatch Earnings reports. The firm had revenue of $198.43 million during the quarter, compared to analyst estimates of $183.38 million. Hudson Pacific Properties had a net margin of 15.99% and a return on equity of 2.93%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. Hudson Pacific Properties updated its FY19 guidance to $1.95-2.03 EPS.
NYSE HPP opened at $33.73 on Friday. The stock has a market capitalization of $5.29 billion, a PE ratio of 16.95, a PEG ratio of 3.05 and a beta of 0.73. Hudson Pacific Properties has a 1-year low of $27.12 and a 1-year high of $36.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63.
In related news, Director Mark David Linehan bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average cost of $30.81 per share, for a total transaction of $61,620.00. Following the acquisition, the director now owns 35,126 shares in the company, valued at approximately $1,082,232.06. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan M. Glaser bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The shares were bought at an average price of $29.74 per share, for a total transaction of $148,700.00. Following the completion of the acquisition, the director now owns 129,468 shares in the company, valued at approximately $3,850,378.32. The disclosure for this purchase can be found here. Insiders own 1.93% of the company’s stock.
Several equities analysts have recently weighed in on HPP shares. Zacks Investment Research raised Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, February 7th. Sandler O’Neill raised Hudson Pacific Properties from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America reaffirmed a “buy” rating and issued a $37.00 price objective (down from $41.00) on shares of Hudson Pacific Properties in a research note on Friday, November 30th. Robert W. Baird raised Hudson Pacific Properties from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. Finally, TheStreet raised Hudson Pacific Properties from a “c+” rating to a “b” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $37.56.
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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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