Hudson Pacific Properties (NYSE:HPP) Updates Q4 2024 Earnings Guidance

Hudson Pacific Properties (NYSE:HPP) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.090-0.130 for the period, compared to the consensus earnings per share estimate of 0.130. The company issued revenue guidance of -. Hudson Pacific Properties also updated its Q4 guidance to $0.09-0.13 EPS.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HPP. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and reduced their target price for the stock from $5.50 to $5.00 in a report on Tuesday. Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $6.00 in a research note on Thursday, August 8th. 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 note on Thursday, August 8th. Finally, Bank of America dropped their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Hudson Pacific Properties has an average rating of “Hold” and a consensus target price of $6.30.

Hudson Pacific Properties Price Performance

Shares of Hudson Pacific Properties stock traded down $0.15 during trading on Friday, hitting $3.82. 418,525 shares of the stock traded hands, compared to its average volume of 2,388,529. Hudson Pacific Properties has a 52 week low of $3.81 and a 52 week high of $9.85. The stock has a market cap of $539.50 million, a price-to-earnings ratio of -1.90 and a beta of 1.31. The firm’s fifty day moving average is $4.62 and its 200-day moving average is $4.96. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Insider Activity

In related news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties 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 sale, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.