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 earnings per share guidance of $0.09-0.13 for the period, compared to the consensus earnings per share estimate of $0.11.

Hudson Pacific Properties Stock Performance

NYSE HPP traded down $0.40 on Tuesday, reaching $4.04. The stock had a trading volume of 4,570,958 shares, compared to its average volume of 2,379,651. The firm has a fifty day moving average of $4.68 and a two-hundred day moving average of $4.99. The company has a market cap of $570.58 million, a P/E ratio of -2.66 and a beta of 1.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47. Hudson Pacific Properties has a 1-year low of $4.04 and a 1-year high of $9.85.

Wall Street Analyst Weigh In

HPP has been the subject of several recent analyst reports. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Scotiabank cut their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. Two research 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, the company currently has an average rating of “Hold” and a consensus price target of $6.30.

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 stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction on 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 transaction, the director now owns 3,713 shares in the company, valued at approximately $19,307.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction dated 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 owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.