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.
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.
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.
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.