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

Hudson Pacific Properties (NYSE:HPP) issued an update on its fourth quarter earnings guidance on Tuesday morning. 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.

Hudson Pacific Properties Trading Down 3.8 %

HPP stock traded down $0.15 on Friday, reaching $3.82. The company’s stock had a trading volume of 1,022,461 shares, compared to its average volume of 2,391,250. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.47 and a current ratio of 1.26. The business has a fifty day simple moving average of $4.62 and a two-hundred day simple moving average of $4.96. The firm has a market cap of $539.50 million, a PE ratio of -1.90 and a beta of 1.31. Hudson Pacific Properties has a 12-month low of $3.80 and a 12-month high of $9.85.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Scotiabank lowered their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group decreased their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Bank of America dropped their price target on 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. Finally, BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.30.

Insider Activity

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The trade was a 71.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the 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 owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Company Profile

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.