NYSE:HPP

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Hudson Pacific Properties

Executive Summary

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development.


Snowflake Analysis

Established dividend payer with proven track record.


Similar Companies

Share Price & News

How has Hudson Pacific Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HPP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

10.7%

HPP

4.6%

US REITs

2.9%

US Market


1 Year Return

-17.4%

HPP

-7.2%

US REITs

8.9%

US Market

Return vs Industry: HPP underperformed the US REITs industry which returned -7.4% over the past year.

Return vs Market: HPP underperformed the US Market which returned 9.2% over the past year.


Shareholder returns

HPPIndustryMarket
7 Day10.7%4.6%2.9%
30 Day23.1%11.3%10.6%
90 Day-11.3%-9.8%5.1%
1 Year-14.5%-17.4%-3.3%-7.2%11.4%8.9%
3 Year-10.4%-18.5%16.7%2.3%34.3%25.4%
5 Year9.1%-5.5%47.8%17.6%60.7%42.7%

Price Volatility Vs. Market

How volatile is Hudson Pacific Properties's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Hudson Pacific Properties undervalued compared to its fair value and its price relative to the market?

47.01x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: HPP ($28.28) is trading above our estimate of fair value ($22.26)

Significantly Below Fair Value: HPP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HPP is poor value based on its PE Ratio (47x) compared to the REITs industry average (28.9x).

PE vs Market: HPP is poor value based on its PE Ratio (47x) compared to the US market (16.1x).


Price to Earnings Growth Ratio

PEG Ratio: HPP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: HPP is good value based on its PB Ratio (1.3x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

How is Hudson Pacific Properties forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

-0.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HPP's earnings are forecast to decline over the next 3 years (-0.9% per year).

Earnings vs Market: HPP's earnings are forecast to decline over the next 3 years (-0.9% per year).

High Growth Earnings: HPP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: HPP's revenue (3.8% per year) is forecast to grow slower than the US market (8.8% per year).

High Growth Revenue: HPP's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HPP's Return on Equity is forecast to be low in 3 years time (1.9%).


Next Steps

Past Performance

How has Hudson Pacific Properties performed over the past 5 years?

37.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HPP has a large one-off gain of $46.5M impacting its March 31 2020 financial results.

Growing Profit Margin: HPP's current net profit margins (11.2%) are higher than last year (1.3%).


Past Earnings Growth Analysis

Earnings Trend: HPP's earnings have grown significantly by 37.1% per year over the past 5 years.

Accelerating Growth: HPP's earnings growth over the past year (824.3%) exceeds its 5-year average (37.1% per year).

Earnings vs Industry: HPP earnings growth over the past year (824.3%) exceeded the REITs industry 5.2%.


Return on Equity

High ROE: HPP's Return on Equity (2.8%) is considered low.


Next Steps

Financial Health

How is Hudson Pacific Properties's financial position?


Financial Position Analysis

Short Term Liabilities: HPP's short term assets ($647.7M) exceed its short term liabilities ($272.5M).

Long Term Liabilities: HPP's short term assets ($647.7M) do not cover its long term liabilities ($3.8B).


Debt to Equity History and Analysis

Debt Level: HPP's debt to equity ratio (91.5%) is considered high.

Reducing Debt: HPP's debt to equity ratio has increased from 42.2% to 91.5% over the past 5 years.

Debt Coverage: HPP's debt is not well covered by operating cash flow (8.4%).

Interest Coverage: HPP's interest payments on its debt are not well covered by EBIT (1.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Hudson Pacific Properties's current dividend yield, its reliability and sustainability?

3.54%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HPP's dividend (3.54%) is higher than the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: HPP's dividend (3.54%) is low compared to the top 25% of dividend payers in the US market (4.39%).


Stability and Growth of Payments

Stable Dividend: HPP's dividends per share have been stable in the past 10 years.

Growing Dividend: HPP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.2%), HPP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HPP's dividends in 3 years are forecast to be thoroughly covered by earnings (0.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.6yrs

Average management tenure


CEO

Victor Coleman (57yo)

10yrs

Tenure

US$9,327,742

Compensation

Mr. Victor J. Coleman has been the Chairman & Chief Executive Officer of Hudson Pacific Properties, Inc. since June 2010 and served as its President. Mr. Coleman serves as the Chairman, Chief Executive Off ...


CEO Compensation Analysis

Compensation vs Market: Victor's total compensation ($USD9.33M) is above average for companies of similar size in the US market ($USD5.86M).

Compensation vs Earnings: Victor's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Victor Coleman
Chairman & CEO10yrsUS$9.33m0.91% $39.5m
Mark Lammas
President & Treasurer0.42yrUS$4.37m0.15% $6.7m
Alexander Vouvalides
COO & Chief Investment Officer0.42yrUS$3.50m0.10% $4.5m
Christopher Barton
Executive Vice President of Development & Capital Investments4.92yrsUS$2.18m0.064% $2.8m
Joshua Hatfield
Executive Vice President of Operations6.25yrsUS$2.48m0.039% $1.7m
Harout Diramerian
Chief Financial Officer0.42yrno data0.029% $1.3m
Laura Campbell
Senior Vice President of Investor Relations & Marketingno datano datano data
Kay Tidwell
Executive VP9.58yrsno data0.039% $1.7m
Laura Murray
Director of Communicationsno datano datano data
Andrea Rupp
Senior Vice President of Human Resources7.75yrsno datano data

5.6yrs

Average Tenure

46yo

Average Age

Experienced Management: HPP's management team is seasoned and experienced (5.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Victor Coleman
Chairman & CEO10yrsUS$9.33m0.91% $39.5m
Robert Harris
Independent Director5.5yrsUS$162.50k0.017% $725.2k
Barry Porter
Lead Independent Director2.42yrsUS$195.00k0.059% $2.6m
Christy Haubegger
Independent Director1.25yrsUS$125.75k0.0021% $89.6k
Theodore Antenucci
Independent Director10yrsUS$167.50k0.028% $1.2m
Richard Fried
Independent Director10yrsUS$170.00k0.0095% $413.5k
Andrea Wong
Independent Director2.83yrsUS$162.50k0.0048% $208.7k
Jonathan Glaser
Independent Director10yrsUS$167.50k0.25% $10.9m
Robert Moran
Independent Director10yrsUS$165.00k0.029% $1.3m
Mark Linehan
Independent Director10yrsUS$180.00k0.026% $1.1m

10.0yrs

Average Tenure

56yo

Average Age

Experienced Board: HPP's board of directors are seasoned and experienced ( 10 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: HPP insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Hudson Pacific Properties, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Hudson Pacific Properties, Inc.
  • Ticker: HPP
  • Exchange: NYSE
  • Founded: 2006
  • Industry: Office REITs
  • Sector: Real Estate
  • Implied Market Cap: US$4.348b
  • Market Cap: US$4.322b
  • Shares outstanding: 153.75m
  • Website: https://www.hudsonpacificproperties.com

Number of Employees


Location

  • Hudson Pacific Properties, Inc.
  • 11601 Wilshire Boulevard
  • 9th Floor
  • Los Angeles
  • California
  • 90025
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HPPNYSE (New York Stock Exchange)YesCommon StockUSUSDJun 2010
HP9DB (Deutsche Boerse AG)YesCommon StockDEEURJun 2010

Biography

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more. Hudson Pacific is publicly traded on the NYSE under the symbol HPP, and listed as a component of the Russell 2000 and the Russell 3000 indices. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 12:25
End of Day Share Price2020/06/03 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.