Hudson Pacific Properties, Inc. (HPP): A Bear Case Theory [Yahoo! Finance]
Hudson Pacific Properties, Inc. (HPP)
Last hudson pacific properties, inc. earnings: 2/20 06:00 am
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hudsonpacificproperties.com
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Source: Yahoo! Finance
A prestigious office building, showcasing the diversified real estate portfolio. Hudson Pacific Properties (HPP), an over-leveraged office REIT with a $643 million market cap, is struggling with several challenges, particularly its heavy exposure to the San Francisco Bay Area. HPP's stock has plummeted from $25 in early 2022 to $4.74 today, yet the downside risk remains high due to valuation concerns, including a 6.2% implied cap rate and a meagre 4.2% dividend yield. The company's portfolio consists primarily of Class A office properties, with key tenants in the technology sector, contributing significantly to its NOI. However, the “tech-exodus,” driven by the remote work revolution and high-profile layoffs, has devastated the Bay Area office market, pushing vacancy rates from 6% in 2019 to a record high of 36%. HPP's financial metrics paint a troubling picture. Its enterprise value is $5.9 billion, with investments in real estate valued at $6.6 billion across 51 properties. Des
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HPP
News
- Hudson Pacific Properties, Inc. (NYSE: HPP) had its price target lowered by analysts at Piper Sandler from $5.00 to $4.50. They now have a "neutral" rating on the stock.MarketBeat
- Hudson Pacific Properties Inc (HPP) Q3 2024 Earnings Call Highlights: Navigating Challenges ... [Yahoo! Finance]Yahoo! Finance
- Hudson Pacific (HPP) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
- Hudson Pacific Properties Reports Third Quarter 2024 Financial ResultsBusiness Wire
- Hudson Pacific Properties, Inc. (NYSE: HPP) was downgraded by analysts at Jefferies Financial Group Inc. from a "buy" rating to a "hold" rating. They now have a $5.00 price target on the stock, down previously from $5.50.MarketBeat
HPP
Earnings
- 11/12/24 - Miss
HPP
Sec Filings
- 11/12/24 - Form 8-K
- 9/27/24 - Form 144
- 9/24/24 - Form 4
- HPP's page on the SEC website