Wall Street analysts’ outlook for Hudson Pacific Properties Inc. (HPP)

Hudson Pacific Properties Inc. (NYSE: HPP) stock fell -1.87% on Friday to $14.15 against a previous-day closing price of $14.42. With 1.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.23 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $14.41 whereas the lowest price it dropped to was $14.01. The 52-week range on HPP shows that it touched its highest point at $28.66 and its lowest point at $13.92 during that stretch. It currently has a 1-year price target of $20.64. With its current market cap of 1.96 billion, HPP has annualized dividend of $1.00 while the current yield stands at 7.07%. Beta for the stock currently stands at 0.98.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HPP was down-trending over the past week, with a drop of -4.91%, but this was down by -6.97% over a month. Three-month performance dropped to -39.45% while six-month performance fell -40.75%. The stock lost -46.16% in the past year, while it has lost -42.74% so far this year. A look at the trailing 12-month EPS for HPP yields -0.19 with Next year EPS estimates of -0.01. For the next quarter, that number is 0.00. This implies an EPS growth rate of -25.00% for this year and -33.30% for next year. EPS is expected to grow by 9.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -30.50%.

Float and Shares Shorts:

At present, 149.19 million HPP shares are outstanding with a float of 137.84 million shares on hand for trading. On Jul 14, 2022, short shares totaled 6.88 million, which was 4.75% higher than short shares on Jun 14, 2022. In addition to Mr. Victor J. Coleman as the firm’s Chairman & CEO, Mr. Mark T. Lammas serves as its Pres & Treasurer.

Institutional Ownership:

Through their ownership of 107.56% of HPP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.36% of HPP, in contrast to 52.02% held by mutual funds. Shares owned by individuals account for 51.30%. As the largest shareholder in HPP with 15.11% of the stake, The Vanguard Group, Inc. holds 21,846,756 shares worth 21,846,756. A second-largest stockholder of HPP, BlackRock Fund Advisors, holds 13,991,393 shares, controlling over 9.67% of the firm’s shares. Norges Bank Investment Management is the third largest shareholder in HPP, holding 9,156,926 shares or 6.33% stake. With a 6.33% stake in HPP, the Government Pension Fund – Global is the largest stakeholder. A total of 9,156,926 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.81% of HPP stock, is the second-largest Mutual Fund holder. It holds 6,954,679 shares valued at 103.21 million. Canada Pension Plan holds 2.99% of the stake in HPP, owning 4,320,000 shares worth 64.11 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HPP since 14 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 9 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HPP analysts setting a high price target of $40.00 and a low target of $13.00, the average target price over the next 12 months is $19.93. Based on these targets, HPP could surge 182.69% to reach the target high and fall by -8.13% to reach the target low. Reaching the average price target will result in a growth of 40.85% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HPP will report FY 2022 earnings on 02/16/2023. Analysts have provided yearly estimates in a range of -$0.14 being high and -$0.17 being low. For HPP, this leads to a yearly average estimate of -$0.15. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Hudson Pacific Properties Inc. surprised analysts by -$0.09 when it reported -$0.05 EPS against a consensus estimate of $0.04. The surprise factor in the prior quarter was -$0.14. Based on analyst estimates, the high estimate for the next quarter is $0.05 and the low estimate is -$0.02. The average estimate for the next quarter is thus $0.01.

Summary of Insider Activity:

Insiders traded HPP stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 48,432 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 60,424 while 25,671 shares were sold.

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