HPP Stock Recent News
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We had downgraded HPP common and preferreds to a Sell on our last coverage. The common shares are down 50% while the preferreds are flat. We analyze the latest results and tell you why the two equity classes will converge.
Investors need to pay close attention to Hudson Pacific (HPP) stock based on the movements in the options market lately.
LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP) (the “Company”), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced that its Board of Directors has declared dividends for the second quarter of 2024 on its common stock of $0.05 per share, equivalent to an annual rate of $0.20 per share, and on its 4.750% Series C cumulative preferred stock of $0.296875 per share, equivalent to an annual rate of $1.18750 per share. Both divi.
These REITs have a price-to-NAV range of 0.27x to 0.59x. There may be upside of more than 200% to the NAV estimate, which will probably decline over time. The estimates may be terrible. That's not my fault. You'll probably have a better time reading this, than reading my competitor's articles.
While the top- and bottom-line numbers for Hudson Pacific (HPP) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Hudson Pacific Properties has reinstated its suspended quarterly cash dividend. The REIT conducted $1 billion in asset sales in 2023 as higher office vacancies continue to pressure FFO. The leases for a third of HPP's office rent base come up for renewal over the next two years, with rents set to drop dramatically.
Hudson Pacific missed FFO estimates in Q4 amid a bevy of industry headwinds. The company also issued light forward FFO guidance.
Hudson Pacific Properties, Inc. (HPP) Q4 2023 Earnings Call Transcript
While the top- and bottom-line numbers for Hudson Pacific (HPP) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Hudson Pacific Properties (HPP) came out with quarterly funds from operations (FFO) of $0.14 per share, missing the Zacks Consensus Estimate of $0.15 per share. This compares to FFO of $0.49 per share a year ago.