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

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

Hudson Pacific Properties Stock Performance

Shares of Hudson Pacific Properties stock traded down $0.03 on Thursday, hitting $4.18. The stock had a trading volume of 288,470 shares, compared to its average volume of 2,381,979. The business’s 50 day moving average is $4.64 and its two-hundred day moving average is $4.97. Hudson Pacific Properties has a twelve month low of $4.04 and a twelve month high of $9.85. The stock has a market cap of $590.34 million, a price-to-earnings ratio of -2.02 and a beta of 1.31. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HPP. BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. Scotiabank lowered their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. Piper Sandler cut shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $6.00 in a report on Thursday, August 8th. The Goldman Sachs Group decreased their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.30.

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value 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 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now directly owns 3,713 shares in the company, valued at $19,307.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at $322,439.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by company insiders.

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.