Barclays Maintains an 'Overweight' on Hudson Pacific Properties (HPP); Model Adjustment

Barclays maintains an 'Overweight' on Hudson Pacific Properties (NYSE: HPP) price target of $16.00.

Barclays analyst says, "We are adjusting our earnings model to more accurately reflect HPP's 2011 average share count and acquisition timing. As a result, we are increasing our FY2011 FFO estimate to $1.07 per share, from $1.05 per share, implying $0.25 per share in 4Q11. Our updated FY2011 estimate is at the midpoint of guidance ($1.06-$1.08 per share), although our model continues to include $0.02 per share of anticipated transaction costs, which are excluded from guidance. Our 2012 FFO estimate remains $1.13 per share. We project 6% average annual operating FFO growth from 2011-2016 and 7% average annual CAD growth."

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 $12.46 yesterday.

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