Hudson Pacific Properties, Inc. (HPP) To Go Ex-Dividend on December 15th
Hudson Pacific Properties, Inc. (NYSE:HPP) announced a dividend on Friday, December 8th, Fidelity reports. Stockholders of record on Monday, December 18th will be given a dividend of 0.25 per share by the real estate investment trust on Thursday, December 28th. The ex-dividend date of this dividend is Friday, December 15th.
Hudson Pacific Properties has increased its dividend by an average of 17.0% annually over the last three years. Hudson Pacific Properties has a payout ratio of 51.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hudson Pacific Properties to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.
Hudson Pacific Properties (NYSE:HPP) traded up $0.07 during trading hours on Friday, hitting $34.74. 735,106 shares of the stock were exchanged, compared to its average volume of 1,050,870. The stock has a market cap of $5,421.56, a P/E ratio of 18.09, a PEG ratio of 3.02 and a beta of 0.78. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. Hudson Pacific Properties has a 12-month low of $31.52 and a 12-month high of $36.75.
Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. The firm had revenue of $190.02 million for the quarter, compared to the consensus estimate of $183.37 million. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. analysts expect that Hudson Pacific Properties will post 1.96 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Goldman Sachs Group cut shares of Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. KeyCorp reiterated a “buy” rating on shares of Hudson Pacific Properties in a research note on Tuesday, September 26th. Morgan Stanley dropped their price target on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Hudson Pacific Properties from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.33.
In other Hudson Pacific Properties news, EVP Sanford Dale Shimoda sold 2,800 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $35.68, for a total transaction of $99,904.00. Following the transaction, the executive vice president now owns 83,072 shares in the company, valued at approximately $2,964,008.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard B. Fried sold 17,417 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $34.66, for a total transaction of $603,673.22. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.
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