Hudson Pacific Properties: The Preferreds Have Dipped, But I'm Not Buying [Seeking Alpha]
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: Seeking Alpha
Follow Summary Hudson Pacific Properties has faced headwinds from rising office vacancy in the San Francisco Bay Area. The Series C Preferreds currently offer a 9.3% yield on cost and are trading at a reasonable discount to their liquidation value. HPP faces a $600 million debt maturity due next year and $952.8 million in 2026 as leases covering 18.9% of its rent are set to expire next year. Matteo Colombo Hudson Pacific Properties ( NYSE: HPP ) has shed an intense amount of value over the last few months as the office REIT faces ever-higher vacancy rates, falling net operating income, and cash rent that's dipping. HPP last declared a quarterly cash dividend of $0.05 per share , kept unchanged from its prior distribution and $0.20 per share annualized for a 4% dividend yield. The Series C Preferreds NYSE: HPP.PR.C ), currently trading at $12.80 per share, would dip as low as $11 per share, or 45 cents on the dollar, but now offer a 9.3% yield on cost on the back of the $1
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HPP
News
- Crash! Hudson Pacific Properties Suspends Its Common Stock Dividend [Yahoo! Finance]Yahoo! Finance
- Hudson Pacific Properties, Inc. (NYSE: HPP) had its price target lowered by analysts at Wells Fargo & Company from $5.00 to $4.50. They now have an "equal weight" rating on the stock.MarketBeat
- Hudson Pacific Properties suspends common stock dividend [Seeking Alpha]Seeking Alpha
- Hudson Pacific Properties Suspends Common Stock Dividend and Declares Preferred Stock DividendBusiness Wire
- Hudson Pacific Properties, Inc. (NYSE: HPP) had its price target lowered by analysts at Scotiabank from $7.00 to $6.00. They now have a "sector perform" rating on the stock.MarketBeat
HPP
Earnings
- 8/7/24 - Miss
HPP
Sec Filings
- 9/4/24 - Form 4
- 8/7/24 - Form 8-K
- HPP's page on the SEC website