Hudson Pacific Properties, Inc. (HPP) Updates FY17 Earnings Guidance
Hudson Pacific Properties, Inc. (NYSE:HPP) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $1.93-1.99 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.96.
Several brokerages have commented on HPP. Goldman Sachs Group, Inc. (The) began coverage on shares of Hudson Pacific Properties in a research note on Tuesday, September 19th. They issued a buy rating and a $39.00 price target on the stock. KeyCorp reiterated a buy rating on shares of Hudson Pacific Properties in a research note on Tuesday, September 26th. BidaskClub upgraded shares of Hudson Pacific Properties from a strong sell rating to a sell rating in a research note on Thursday, August 17th. Barclays PLC increased their price objective on Hudson Pacific Properties from $40.00 to $41.00 and gave the company an overweight rating in a report on Tuesday, August 15th. Finally, Morgan Stanley decreased their price objective on Hudson Pacific Properties from $38.00 to $36.00 and set an overweight rating for the company in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $37.79.
Hudson Pacific Properties, Inc. (NYSE HPP) traded up $0.57 during mid-day trading on Friday, hitting $34.28. The stock had a trading volume of 1,266,827 shares, compared to its average volume of 902,385. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 17.70 and a beta of 0.77.
Hudson Pacific Properties (NYSE:HPP) last posted 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. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. The company had revenue of $190.02 million for the quarter, compared to analyst estimates of $183.37 million. During the same quarter in the prior year, the business posted $0.46 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. equities analysts anticipate that Hudson Pacific Properties, Inc. will post 1.96 earnings per share for the current fiscal year.
In other Hudson Pacific Properties news, Director Jonathan M. Glaser bought 15,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $31.78 per share, for a total transaction of $476,700.00. Following the acquisition, the director now directly owns 132,405 shares of the company’s stock, valued at approximately $4,207,830.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Glaser acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of $31.98 per share, with a total value of $159,900.00. Following the purchase, the director now owns 132,405 shares in the company, valued at approximately $4,234,311.90. The disclosure for this purchase can be found here. Insiders purchased a total of 25,000 shares of company stock worth $797,600 in the last 90 days. 0.33% of the stock is currently owned by company insiders.
WARNING: This report was posted by Watch List News and is the property of of Watch List News. If you are viewing this report on another website, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this report can be accessed at https://www.watchlistnews.com/hudson-pacific-properties-inc-hpp-updates-fy17-earnings-guidance/1676555.html.
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.
Receive News & Ratings for Hudson Pacific Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.