Hudson Pacific Properties (HPP) Releases Quarterly Earnings Results, Misses Estimates By $0.39 EPS

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 large investors have recently made changes to their positions in the stock. Vanguard Group Inc raised its holdings in shares of Hudson Pacific Properties by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 22,521,075 shares of the real estate investment trust’s stock valued at $736,889,000 after buying an additional 255,210 shares during the period. BlackRock Inc. raised its holdings in shares of Hudson Pacific Properties by 1.4% during the 4th quarter. BlackRock Inc. now owns 11,338,698 shares of the real estate investment trust’s stock valued at $329,503,000 after buying an additional 151,784 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Hudson Pacific Properties by 0.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,062,203 shares of the real estate investment trust’s stock valued at $147,108,000 after buying an additional 18,384 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Hudson Pacific Properties by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,460,940 shares of the real estate investment trust’s stock valued at $80,517,000 after buying an additional 10,196 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Hudson Pacific Properties by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,943,883 shares of the real estate investment trust’s stock valued at $56,489,000 after buying an additional 102,653 shares during the period.

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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Earnings History for Hudson Pacific Properties (NYSE:HPP)

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