Hudson Pacific Properties (HPP) to Release Quarterly Earnings on Tuesday

Hudson Pacific Properties (NYSE:HPP - Get Free Report) is set to issue its quarterly earnings data after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Hudson Pacific Properties has set its Q3 2024 guidance at 0.080-0.120 EPS.Persons interested in listening to the company's earnings conference call can do so using this link.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.50). The business had revenue of $218.00 million during the quarter, compared to analysts' expectations of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The firm's revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. On average, analysts expect Hudson Pacific Properties to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Hudson Pacific Properties Price Performance

Shares of Hudson Pacific Properties stock traded up $0.16 on Tuesday, hitting $4.41. 1,314,194 shares of the company traded hands, compared to its average volume of 2,378,947. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The business has a 50-day simple moving average of $4.75 and a 200 day simple moving average of $5.03. Hudson Pacific Properties has a 52 week low of $4.11 and a 52 week high of $9.85. The stock has a market capitalization of $622.82 million, a P/E ratio of -2.54 and a beta of 1.31.

Analyst Upgrades and Downgrades

Several analysts have commented on HPP shares. Morgan Stanley cut shares of Hudson Pacific Properties from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $6.00 to $4.25 in a research note on Wednesday, July 10th. Wells Fargo & Company cut their price target on Hudson Pacific Properties from $5.00 to $4.50 and set an "equal weight" rating for the company in a report on Wednesday, September 11th. Scotiabank decreased their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a "sector perform" rating on the stock in a report on Monday, August 26th. The Goldman Sachs Group cut 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 report on Wednesday, August 14th. Finally, Piper Sandler lowered shares of Hudson Pacific Properties from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $7.00 to $6.00 in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.94.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the firm's 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 owns 61,068 shares of the company's stock, valued at approximately $322,439.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 3,713 shares of the company's stock, valued at approximately $19,307.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.92% 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.