What is Wedbush’s Forecast for HPP FY2024 Earnings?

Hudson Pacific Properties, Inc. (NYSE:HPP) – Research analysts at Wedbush lowered their FY2024 earnings per share estimates for shares of Hudson Pacific Properties in a research note issued to investors on Wednesday, November 13th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $0.53 for the year, down from their previous estimate 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.

HPP has been the topic of a number of other research reports. BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. Bank of America lowered their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Scotiabank lowered their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. The Goldman Sachs Group lowered their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $5.50 to $5.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.30.

Hudson Pacific Properties Stock Down 5.7 %

NYSE:HPP opened at $3.97 on Friday. The stock has a 50 day simple moving average of $4.62 and a 200 day simple moving average of $4.96. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.47. Hudson Pacific Properties has a 1-year low of $3.93 and a 1-year high of $9.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp increased its position in Hudson Pacific Properties by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust’s stock valued at $715,000 after buying an additional 2,164 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Hudson Pacific Properties by 9.9% in the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 2,399 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Hudson Pacific Properties by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after acquiring an additional 2,408 shares in the last quarter. abrdn plc grew its holdings in shares of Hudson Pacific Properties by 10.5% in the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 2,710 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Hudson Pacific Properties by 10.0% in the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 3,802 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties 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 transaction, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 directly owns 3,713 shares in the company, valued at $19,307.60. This represents a 71.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by corporate insiders.

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.