What is Wedbush's Estimate for HPP FY2024 Earnings?

Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) - Stock analysts at Wedbush reduced their FY2024 earnings per share (EPS) estimates for Hudson Pacific Properties in a report issued on Wednesday, November 13th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $0.53 per share for the year, down from their prior forecast of $0.54. The consensus estimate for Hudson Pacific Properties' current full-year earnings is $0.54 per share. Wedbush also issued estimates for Hudson Pacific Properties' Q4 2024 earnings at $0.10 EPS.

A number of other equities analysts have also issued reports on HPP. Scotiabank dropped their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research report on Monday, August 26th. Piper Sandler lowered their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a "neutral" rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price objective on shares of 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. Bank of America dropped their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an "underperform" rating for the company in a research note on Thursday, August 22nd. Finally, BMO Capital Markets lowered Hudson Pacific Properties from an "outperform" rating to a "market perform" rating and decreased 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 given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $6.17.

Hudson Pacific Properties Stock Performance

HPP traded down $0.29 during midday trading on Friday, reaching $3.68. The company's stock had a trading volume of 4,268,869 shares, compared to its average volume of 2,405,856. Hudson Pacific Properties has a twelve month low of $3.66 and a twelve month high of $9.85. The stock has a market cap of $519.73 million, a P/E ratio of -1.76 and a beta of 1.31. The company has a fifty day simple moving average of $4.60 and a 200 day simple moving average of $4.95. The company has a current ratio of 1.26, a quick ratio of 1.47 and a debt-to-equity ratio of 1.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HPP. Millennium Management LLC raised its position in Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust's stock worth $8,594,000 after acquiring an additional 1,319,869 shares in the last quarter. Scion Asset Management LLC bought a new position in shares of Hudson Pacific Properties in the second quarter valued at about $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hudson Pacific Properties by 450.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust's stock worth $5,096,000 after acquiring an additional 872,538 shares during the period. GSA Capital Partners LLP increased its position in Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust's stock worth $3,633,000 after acquiring an additional 720,549 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Hudson Pacific Properties by 13.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust's stock worth $24,902,000 after acquiring an additional 630,932 shares during the period. Institutional investors and hedge funds own 97.58% of the company's stock.

Insider Buying and Selling at Hudson Pacific Properties

In other news, COO Andy Wattula sold 9,356 shares of the company's stock in a transaction that occurred 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 in the company, valued at $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were 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 of the company's stock, valued at $19,307.60. This trade represents a 71.44 % 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.