Hudson Pacific Properties (NYSE:HPP) Issues Q4 Earnings Guidance

Hudson Pacific Properties (NYSE:HPP) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.09-0.13 for the period, compared to the consensus EPS estimate of $0.11. Hudson Pacific Properties also updated its Q4 2024 guidance to 0.090-0.130 EPS.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HPP shares. Bank of America reduced their price objective on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $8.00 to $6.00 in a report on Thursday, August 8th. Wolfe Research downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. The Goldman Sachs Group reduced their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, Wells Fargo & Company dropped their price target on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus target price of $6.30.

Hudson Pacific Properties Trading Down 3.8 %

HPP traded down $0.15 during trading hours on Friday, reaching $3.82. 1,022,461 shares of the company’s stock traded hands, compared to its average volume of 2,391,250. The firm has a 50-day moving average price of $4.62 and a 200 day moving average price of $4.96. The firm has a market capitalization of $539.50 million, a PE ratio of -1.90 and a beta of 1.31. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a 52-week low of $3.80 and a 52-week high of $9.85.

Insider Transactions at Hudson Pacific Properties

In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the transaction, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.