Hudson Pacific Properties, Inc. Announces Quarterly Dividend of $0.05 (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) announced a quarterly dividend on Monday, May 20th, Zacks reports. Stockholders of record on Monday, June 17th will be given a dividend of 0.05 per share by the real estate investment trust on Thursday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, June 17th.

Hudson Pacific Properties has decreased its dividend payment by an average of 27.9% per year over the last three years. Hudson Pacific Properties has a dividend payout ratio of -18.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Hudson Pacific Properties to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 17.1%.

Hudson Pacific Properties Trading Up 2.5 %

Hudson Pacific Properties stock opened at $4.95 on Friday. The company has a 50 day moving average price of $5.39 and a 200-day moving average price of $6.84. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. Hudson Pacific Properties has a fifty-two week low of $4.05 and a fifty-two week high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.53). The business had revenue of $214.02 million during the quarter, compared to the consensus estimate of $220.61 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. On average, equities research analysts forecast that Hudson Pacific Properties will post 0.9 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wedbush downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $7.50 in a research note on Tuesday, February 20th. The Goldman Sachs Group cut their price target on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Morgan Stanley cut their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Wolfe Research raised shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target on the stock in a report on Monday, March 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $7.00 price target (down from $9.00) on shares of Hudson Pacific Properties in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.49.

Insider Activity

In other Hudson Pacific Properties news, CEO Victor J. Coleman sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total value of $518,000.00. Following the sale, the chief executive officer now directly owns 387,451 shares of the company’s stock, valued at $2,006,996.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 13,420 shares of company stock valued at $59,912 over the last ninety days. 2.95% of the stock is currently owned by insiders.

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.