Barclays Reduces Estimates on Hudson Pacific Properties (HPP); Shares Still Attractive on Relative Basis
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Price: $23.21 -3.25%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade HPP Now!
Barclays maintains an 'Overweight' on Hudson Pacific Properties (NYSE: HPP) price target of $19.00.
Analyst, Ross L. Smotrich, said, "The stock is up 25% YTD, ahead of a 14% return for the RMZ, but consistent with California office peers DEI (+30%) and KRC (+23%). We think HPP's value-add opportunities (including 901 Market Street, Olympic Bundy and 275 Brannan, which could have its first leases in place as early as 2Q13), lower financial leverage and higher exposure to San Francisco make the stock attractive on a relative basis." (FY12 FFO estimates lowered from $0.85 to $0.83 and FY13 FFO from $1.06 to $1.02)
For an analyst ratings summary and ratings history on Hudson Pacific Properties click here. For more ratings news on Hudson Pacific Properties click here.
Shares of Hudson Pacific Properties closed at $17.77 yesterday, with a 52 week range of $10.58-$18.49.
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Analyst, Ross L. Smotrich, said, "The stock is up 25% YTD, ahead of a 14% return for the RMZ, but consistent with California office peers DEI (+30%) and KRC (+23%). We think HPP's value-add opportunities (including 901 Market Street, Olympic Bundy and 275 Brannan, which could have its first leases in place as early as 2Q13), lower financial leverage and higher exposure to San Francisco make the stock attractive on a relative basis." (FY12 FFO estimates lowered from $0.85 to $0.83 and FY13 FFO from $1.06 to $1.02)
For an analyst ratings summary and ratings history on Hudson Pacific Properties click here. For more ratings news on Hudson Pacific Properties click here.
Shares of Hudson Pacific Properties closed at $17.77 yesterday, with a 52 week range of $10.58-$18.49.
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