Hudson Pacific Properties, Inc.

NYSE:HPP Stock Report

Market Cap: US$413.9m

Hudson Pacific Properties Valuation

Is HPP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HPP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HPP ($2.9) is trading below our estimate of fair value ($9.91)

Significantly Below Fair Value: HPP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HPP?

Key metric: As HPP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HPP. This is calculated by dividing HPP's market cap by their current revenue.
What is HPP's PS Ratio?
PS Ratio0.5x
SalesUS$847.71m
Market CapUS$413.90m

Price to Sales Ratio vs Peers

How does HPP's PS Ratio compare to its peers?

The above table shows the PS ratio for HPP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.5x
NLOP Net Lease Office Properties
2.8xn/aUS$450.5m
PSTL Postal Realty Trust
4.2x9.9%US$364.9m
CIO City Office REIT
1.3x0.2%US$218.4m
PKST Peakstone Realty Trust
1.8x4.8%US$399.1m
HPP Hudson Pacific Properties
0.5x3.3%US$413.9m

Price-To-Sales vs Peers: HPP is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (2.5x).

Price to Sales Ratio vs Industry

How does HPP's PS Ratio compare vs other companies in the US Office REITs Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
OPI Office Properties Income Trust
0.1x-6.3%US$55.57m
CMCT Creative Media & Community Trust
0.1xn/aUS$21.35m
No more companies available in this PS range
HPP 0.5xIndustry Avg. 3.0xNo. of Companies4PS01.63.24.86.48+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HPP is good value based on its Price-To-Sales Ratio (0.5x) compared to the US Office REITs industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is HPP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HPP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.5x
Fair PS Ratio1.4x

Price-To-Sales vs Fair Ratio: HPP is good value based on its Price-To-Sales Ratio (0.5x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HPP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$2.90
US$4.73
+63.0%
44.0%US$11.00US$3.00n/a11
Dec ’25US$3.85
US$5.20
+35.1%
37.1%US$11.00US$3.70n/a11
Nov ’25US$4.11
US$5.59
+36.0%
32.3%US$11.00US$4.00n/a11
Oct ’25US$4.68
US$5.98
+27.7%
31.4%US$11.00US$4.25n/a11
Sep ’25US$5.15
US$5.95
+15.6%
30.7%US$11.00US$4.00n/a12
Aug ’25US$5.81
US$6.56
+12.9%
26.8%US$11.00US$4.25n/a13
Jul ’25US$4.70
US$6.88
+46.5%
24.7%US$11.00US$4.50n/a13
Jun ’25US$4.91
US$7.15
+45.7%
28.0%US$11.00US$4.50n/a13
May ’25US$5.69
US$7.97
+40.1%
24.2%US$11.00US$5.00n/a13
Apr ’25US$6.35
US$8.28
+30.4%
29.8%US$13.00US$5.00n/a13
Mar ’25US$6.25
US$9.15
+46.3%
28.4%US$13.00US$5.00n/a12
Feb ’25US$7.99
US$9.52
+19.2%
27.3%US$13.00US$5.00n/a12
Jan ’25US$9.31
US$8.30
-10.8%
34.1%US$13.00US$4.50US$3.0312
Dec ’24US$6.71
US$6.77
+0.9%
30.7%US$11.00US$4.00US$3.8512
Nov ’24US$4.49
US$6.96
+55.0%
29.5%US$11.00US$4.00US$4.1112
Oct ’24US$6.65
US$7.23
+8.7%
31.3%US$11.00US$4.00US$4.6811
Sep ’24US$7.02
US$6.15
-12.4%
25.5%US$10.00US$4.00US$5.1510
Aug ’24US$5.59
US$5.65
+1.1%
30.2%US$10.00US$4.00US$5.8110
Jul ’24US$4.22
US$5.61
+32.8%
30.8%US$10.00US$4.00US$4.7010
Jun ’24US$4.58
US$6.28
+37.1%
33.1%US$10.00US$4.00US$4.9111
May ’24US$5.38
US$7.14
+32.6%
22.0%US$10.00US$5.00US$5.6911
Apr ’24US$6.65
US$7.75
+16.5%
20.7%US$10.00US$5.50US$6.3512
Mar ’24US$9.16
US$10.41
+13.6%
9.3%US$12.00US$8.50US$6.2511
Feb ’24US$11.44
US$10.46
-8.6%
10.6%US$12.00US$8.50US$7.9912
Jan ’24US$9.73
US$11.58
+19.0%
9.6%US$13.00US$10.00US$9.3112

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/03 23:44
End of Day Share Price 2025/01/03 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Hudson Pacific Properties, Inc. is covered by 26 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David RodgersBaird
Ross SmotrichBarclays
John KimBMO Capital Markets Equity Research