Hudson Pacific Properties (HPP) Lifted to Buy at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Hudson Pacific Properties (NYSE:HPP) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat Ratings reports. The firm currently has $40.00 target price on the real estate investment trust’s stock, up from their prior target price of $37.00.

HPP has been the topic of several other reports. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a sell rating to a hold rating in a research report on Wednesday, December 5th. TheStreet upgraded shares of Hudson Pacific Properties from a c+ rating to a b rating in a research report on Thursday, February 14th. Robert W. Baird upgraded shares of Hudson Pacific Properties from a neutral rating to an outperform rating in a research report on Tuesday, January 8th. Bank of America restated a buy rating and issued a $37.00 price objective (down from $41.00) on shares of Hudson Pacific Properties in a research report on Friday, November 30th. Finally, Sandler O’Neill upgraded shares of Hudson Pacific Properties from a hold rating to a buy rating in a research report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Hudson Pacific Properties has a consensus rating of Buy and an average target price of $38.29.

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Shares of HPP opened at $34.31 on Monday. Hudson Pacific Properties has a twelve month low of $27.12 and a twelve month high of $36.06. The stock has a market cap of $5.19 billion, a PE ratio of 18.45, a P/E/G ratio of 3.09 and a beta of 0.73. The company has a current ratio of 1.28, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, February 14th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.39). Hudson Pacific Properties had a net margin of 13.47% and a return on equity of 2.51%. The company had revenue of $198.43 million for the quarter, compared to the consensus estimate of $183.38 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts predict that Hudson Pacific Properties will post 2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Monday, March 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, March 15th. Hudson Pacific Properties’s payout ratio is currently 53.76%.

Hedge funds and other institutional investors have recently modified their holdings of the business. We Are One Seven LLC bought a new position in Hudson Pacific Properties during the fourth quarter valued at approximately $112,000. Comerica Bank bought a new position in Hudson Pacific Properties during the fourth quarter valued at approximately $233,000. Redpoint Investment Management Pty Ltd bought a new position in Hudson Pacific Properties during the third quarter valued at approximately $458,000. Jefferies Group LLC bought a new position in Hudson Pacific Properties during the third quarter valued at approximately $498,000. Finally, Man Group plc grew its position in Hudson Pacific Properties by 28.4% during the third quarter. Man Group plc now owns 18,100 shares of the real estate investment trust’s stock valued at $592,000 after acquiring an additional 4,000 shares during the last quarter.

Hudson Pacific Properties Company Profile

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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Analyst Recommendations for Hudson Pacific Properties (NYSE:HPP)

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