Hudson Pacific Properties Inc. (NYSE: HPP) stock fell -7.00% on Wednesday to $4.65 against a previous-day closing price of $5.00. With 2.47 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.04 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $5.0100 whereas the lowest price it dropped to was $4.6200. The 52-week range on HPP shows that it touched its highest point at $20.30 and its lowest point at $4.08 during that stretch. It currently has a 1-year price target of $6.55. With its current market cap of 646.54 million, HPP has annualized dividend of $1.00 while the current yield stands at 21.51%. Beta for the stock currently stands at 1.12.
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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 up-trending over the past week, with a rise of 1.31%, but this was down by -10.40% over a month. Three-month performance dropped to -51.61% while six-month performance fell -56.09%. The stock lost -77.00% in the past year, while it has lost -52.21% so far this year. A look at the trailing 12-month EPS for HPP yields -0.40 with Next year EPS estimates of -0.36. For the next quarter, that number is -0.15. This implies an EPS growth rate of -10.30% for this year and -27.90% for next year. EPS is expected to grow by 36.48% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -23.70%.
Float and Shares Shorts:
At present, 141.03 million HPP shares are outstanding with a float of 137.00 million shares on hand for trading. On May 14, 2023, short shares totaled 19.2 million, which was 13.63% higher than short shares on Apr 13, 2023. 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 103.89% of HPP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.60% of HPP, in contrast to 59.45% held by mutual funds. Shares owned by individuals account for 46.71%. As the largest shareholder in HPP with 15.74% of the stake, The Vanguard Group, Inc. holds 22,198,068 shares worth 22,198,068. A second-largest stockholder of HPP, BlackRock Fund Advisors, holds 18,552,055 shares, controlling over 13.15% of the firm’s shares. Norges Bank Investment Management is the third largest shareholder in HPP, holding 10,405,097 shares or 7.38% stake. With a 7.38% stake in HPP, the Government Pension Fund – Global is the largest stakeholder. A total of 10,405,097 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 6.60% of HPP stock, is the second-largest Mutual Fund holder. It holds 9,316,328 shares valued at 51.8 million. Vanguard Real Estate Index Fund holds 4.40% of the stake in HPP, owning 6,200,613 shares worth 34.48 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, HPP reported revenue of $251.43M and operating income of $38.88M. The EBITDA in the recently reported quarter was $134.90M and diluted EPS was -$0.05.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HPP since 0 analysts follow the stock currently. 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 $10.00 and a low target of $4.00, the average target price over the next 12 months is $6.55. Based on these targets, HPP could surge 115.05% to reach the target high and fall by -13.98% to reach the target low. Reaching the average price target will result in a growth of 40.86% 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.
Summary of Insider Activity:
Insiders traded HPP stock several times over the past three months with 4 Buys and 2 Sells. In these transactions, 42,063 shares were bought while 3,995 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 107,293 while 12,659 shares were sold.
