Hudson Pacific Properties, Inc. Plans Quarterly Dividend of $0.05 (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPPGet Free Report) declared a quarterly dividend on Monday, May 20th, Zacks reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.05 per share by the real estate investment trust on Thursday, June 27th. This represents a $0.20 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, June 17th.

Hudson Pacific Properties has decreased its dividend payment by an average of 27.9% annually over the last three years. Hudson Pacific Properties has a payout ratio of -18.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Hudson Pacific Properties to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 17.1%.

Hudson Pacific Properties Stock Performance

Hudson Pacific Properties stock opened at $4.95 on Friday. Hudson Pacific Properties has a 52-week low of $4.05 and a 52-week high of $9.85. The firm has a fifty day moving average of $5.39 and a 200-day moving average of $6.84. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85.

Hudson Pacific Properties (NYSE:HPPGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.53). Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The business had revenue of $214.02 million during the quarter, compared to analyst estimates of $220.61 million. As a group, analysts predict that Hudson Pacific Properties will post 0.9 EPS for the current year.

Insider Buying and Selling at Hudson Pacific Properties

In other news, CEO Victor J. Coleman sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total value of $518,000.00. Following the transaction, the chief executive officer now directly owns 387,451 shares in the company, valued at approximately $2,006,996.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased 13,420 shares of company stock worth $59,912 in the last ninety days. 2.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HPP shares. Morgan Stanley dropped their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Wedbush lowered shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $11.00 to $7.50 in a report on Tuesday, February 20th. Wolfe Research raised shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target for the company in a report on Monday, March 18th. Piper Sandler reaffirmed an “overweight” rating and set a $7.00 price target (down from $9.00) on shares of Hudson Pacific Properties in a report on Friday, May 3rd. Finally, The Goldman Sachs Group lowered their price target on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.49.

Get Our Latest Analysis on Hudson Pacific Properties

Hudson Pacific Properties Company Profile

(Get Free Report)

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.

See Also

Dividend History for Hudson Pacific Properties (NYSE:HPP)

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