HPP

Hudson Pacific PropertiesNYSE:HPP Stock Report

Market Cap

US$4.0b

7D

-0.8%

1Y

18.4%

Updated

22 Sep, 2021

Data

Company Financials +
HPP fundamental analysis
Snowflake Score
Valuation1/6
Future Growth3/6
Past Performance0/6
Financial Health1/6
Dividends6/6

HPP Overview

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.

Hudson Pacific Properties Competitors

Boston Properties

NYSE:BXP

US$18.7b

Vornado Realty Trust

NYSE:VNO

US$8.5b

Kilroy Realty

NYSE:KRC

US$7.8b

Douglas Emmett

NYSE:DEI

US$6.6b

Price History & Performance

Summary of all time highs, changes and price drops for Hudson Pacific Properties
Historical stock prices
Current Share PriceUS$26.24
52 Week HighUS$18.62
52 Week LowUS$30.35
Beta0.93
1 Month Change1.78%
3 Month Change-6.49%
1 Year Change18.36%
3 Year Change-17.28%
5 Year Change-20.65%
Change since IPO50.81%

Recent News & Updates

Shareholder Returns

HPPUS REITsUS Market
7D-0.8%-1.0%-1.8%
1Y18.4%34.6%31.5%

Return vs Industry: HPP underperformed the US REITs industry which returned 36.1% over the past year.

Return vs Market: HPP underperformed the US Market which returned 33% over the past year.

Price Volatility

Is HPP's price volatile compared to industry and market?
HPP volatility
HPP Beta0.93
Industry Beta0.82
Market Beta1

Stable Share Price: HPP is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: HPP's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2006375Victor Colemanhttps://www.hudsonpacificproperties.com

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 S&P MidCap 400 Index.

Hudson Pacific Properties Fundamentals Summary

How do Hudson Pacific Properties's earnings and revenue compare to its market cap?
HPP fundamental statistics
Market CapUS$4.03b
Earnings (TTM)-US$6.79m
Revenue (TTM)US$830.52m

4.9x

P/S Ratio

-594.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HPP income statement (TTM)
RevenueUS$830.52m
Cost of RevenueUS$313.54m
Gross ProfitUS$516.97m
ExpensesUS$523.76m
Earnings-US$6.79m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.045
Gross Margin62.25%
Net Profit Margin-0.82%
Debt/Equity Ratio90.5%

How did HPP perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

56%

Payout Ratio

Valuation

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

1.17x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: HPP ($26.24) is trading above our estimate of fair value ($25.23)

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


Price To Earnings Ratio

PE vs Industry: HPP is unprofitable, so we can't compare its PE Ratio to the US REITs industry average.

PE vs Market: HPP is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HPP's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: HPP is good value based on its PB Ratio (1.2x) compared to the US REITs industry average (2x).


Future Growth

How is Hudson Pacific Properties forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

71.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HPP is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: HPP is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: HPP's is expected to become profitable in the next 3 years.

Revenue vs Market: HPP's revenue (6.2% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: HPP's revenue (6.2% 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 (1.5%).


Past Performance

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

-6.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HPP is currently unprofitable.

Growing Profit Margin: HPP is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: HPP is unprofitable, and losses have increased over the past 5 years at a rate of 6.2% per year.

Accelerating Growth: Unable to compare HPP's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HPP is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (3.9%).


Return on Equity

High ROE: HPP has a negative Return on Equity (0.34%), as it is currently unprofitable.


Financial Health

How is Hudson Pacific Properties's financial position?


Financial Position Analysis

Short Term Liabilities: HPP's short term assets ($453.2M) exceed its short term liabilities ($262.5M).

Long Term Liabilities: HPP's short term assets ($453.2M) do not cover its long term liabilities ($4.1B).


Debt to Equity History and Analysis

Debt Level: HPP's debt to equity ratio (90.5%) is considered high.

Reducing Debt: HPP's debt to equity ratio has increased from 64.5% to 90.5% over the past 5 years.

Debt Coverage: HPP's debt is not well covered by operating cash flow (9.1%).

Interest Coverage: HPP's interest payments on its debt are not well covered by EBIT (1x coverage).


Balance Sheet


Dividend

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

3.81%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HPP's dividend (3.81%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: HPP's dividend (3.81%) is in the top 25% of dividend payers in the US market (3.65%)


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 reasonable payout ratio (56.3%), HPP's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HPP's dividends in 3 years are forecast to be well covered by earnings (46.5% payout ratio).


Next Steps

Management

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

7.7yrs

Average management tenure


CEO

Victor Coleman (59 yo)

11.25yrs

Tenure

US$9,487,250

Compensation

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


CEO Compensation Analysis

Compensation vs Market: Victor's total compensation ($USD9.49M) is above average for companies of similar size in the US market ($USD5.25M).

Compensation vs Earnings: Victor's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: HPP's management team is seasoned and experienced (7.7 years average tenure).


Board Members

Experienced Board: HPP's board of directors are seasoned and experienced ( 11.3 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: HPP insiders have sold more shares than they have bought 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 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$4.032b
  • Market Cap: US$3.996b
  • Shares outstanding: 153.67m
  • 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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/22 00:20
End of Day Share Price2021/09/21 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.