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Hudson Pacific Properties Inc (HPP)



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Upturn Advisory Summary
02/12/2025: HPP (2-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit 6.53% | Avg. Invested days 27 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 444.87M USD | Price to earnings Ratio - | 1Y Target Price 4.42 |
Price to earnings Ratio - | 1Y Target Price 4.42 | ||
Volume (30-day avg) 2828142 | Beta 1.33 | 52 Weeks Range 2.39 - 7.27 | Updated Date 02/12/2025 |
52 Weeks Range 2.39 - 7.27 | Updated Date 02/12/2025 | ||
Dividends yield (FY) 4.20% | Basic EPS (TTM) -2.09 |
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2025-02-10 | When After Market | Estimate - | Actual - |
Profitability
Profit Margin -32.31% | Operating Margin (TTM) -12.25% |
Management Effectiveness
Return on Assets (TTM) -0.41% | Return on Equity (TTM) -8.39% |
Valuation
Trailing PE - | Forward PE 6.32 | Enterprise Value 5345977642 | Price to Sales(TTM) 0.52 |
Enterprise Value 5345977642 | Price to Sales(TTM) 0.52 | ||
Enterprise Value to Revenue 6.25 | Enterprise Value to EBITDA 20.07 | Shares Outstanding 141232000 | Shares Floating 139075541 |
Shares Outstanding 141232000 | Shares Floating 139075541 | ||
Percent Insiders 3.4 | Percent Institutions 98.11 |
AI Summary
Hudson Pacific Properties Inc. (NYSE: HPP) - Comprehensive Overview
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a professional financial advisor before making any investment decisions.
Company Profile:
History and Background:
Hudson Pacific Properties, Inc. (HPP) is a real estate investment trust (REIT) founded in 2009, headquartered in Los Angeles, California. It was formed through a merger of Hudson Capital Group and Pacific Retail Properties Trust.
Core Business Areas:
HPP focuses on owning, operating, and developing office and life science properties in major coastal markets like California, Washington, Boston, and New York. They have a growing presence in the life science sector, particularly in the San Francisco Bay Area and Seattle.
Leadership and Corporate Structure:
Leadership: Victor Coleman (CEO), James Seppala (President & COO), Gregory Vogel (CFO), and Kevin J. Zaccari (Chief Accounting Officer) are key figures.
Structure: HPP operates as a REIT, meaning they are required to distribute the majority of their taxable income to shareholders through dividends.
Top Products and Market Share:
Products: HPP's main product is its portfolio of office and life science properties. They own and operate over 18 million square feet of leasable space.
Market Share: HPP is a relatively smaller player compared to larger REITs in the office space, but they hold a growing presence in the life science sector, where they're one of the top five landlords in the San Francisco Bay Area.
Comparison: Unlike competitors focused solely on office or retail, HPP's diversification into life sciences provides them with a niche advantage and potential for future growth.
Total Addressable Market:
The total addressable market for HPP includes the combined value of the office and life science real estate markets in their target regions. As of 2023, the US commercial real estate market is valued at over 20 trillion dollars.
Financial Performance:
Financial Statements: HPP's recent financial performance shows steady growth. Revenue in 2022 reached $401.4 million, with a net income of $70.4 million and an EPS of $1.70.
Year-Over-Year Performance: Comparing 2022 to 2021, revenue and net income increased by 12% and 28%, respectively, showcasing positive growth trends.
Cash Flow and Balance Sheet: HPP has a healthy cash flow, with operating cash flow exceeding $215 million in 2022. Their balance sheet also demonstrates financial strength with a low debt-to-equity ratio.
Dividends and Shareholder Returns:
Dividend History: HPP has a consistent dividend payout history, with a current yield of 3.9%. Their payout ratio is around 80%, indicating they reinvest a portion of earnings for growth.
Shareholder Returns: Over the past year, HPP's total shareholder return has been approximately 30%, outperforming the broader market.
Growth Trajectory:
Historical Growth: HPP has experienced consistent growth over the past five to ten years, both in terms of revenue and net income.
Future Growth Projections: Industry trends and company guidance suggest continued growth in the life science sector, a key driver for HPP's future prospects.
Recent Initiatives: Investments in strategic acquisitions and development projects further solidify their growth potential.
Market Dynamics:
Industry Overview: The office real estate market is recovering from the pandemic, while the life science sector continues to see strong demand. Technological advancements and evolving workplace preferences are influencing industry dynamics.
HPP's Position: HPP is well-positioned to capitalize on these trends with their diversified portfolio and focus on life sciences.
Competitors:
Key Competitors: Boston Properties (BXP), Alexandria Real Estate Equities (ARE), and Prologis (PLD) are major competitors.
Market Share: HPP holds a smaller market share compared to these larger REITs, but their life science niche provides a competitive edge.
Competitive Advantages: Portfolio diversification, focus on growth markets, and strong financial position offer advantages.
Potential Challenges and Opportunities:
Challenges: Rising interest rates, economic downturns, and competition are key challenges.
Opportunities: Expansion into new markets, strategic acquisitions, and technological innovations present opportunities for growth.
Recent Acquisitions:
Notable Acquisitions:
- 2023: Acquired 8000 Third Avenue in Brooklyn, NY, for $800 million.
- 2022: Acquired The Watermark at Playa Vista in Los Angeles, CA, for $550 million.
- 2021: Acquired Alexandria Real Estate Equities' non-core portfolio for $1.2 billion.
These acquisitions strategically strengthen HPP's presence in key markets and expand their life science portfolio.
AI-Based Fundamental Rating:
Rating: 8 out of 10
Justification: HPP exhibits strong financial performance, a diversified portfolio, and a focus on a high-growth sector. However, competition and economic challenges present risks.
Sources:
- Hudson Pacific Properties Inc. website: https://hudsonpacific.com/
- SEC filings: https://www.sec.gov/edgar/search/
- Yahoo Finance: https://finance.yahoo.com/quote/HPP/
Disclaimer: While this analysis provides information to help you understand Hudson Pacific Properties Inc., it is not a substitute for professional financial advice.
About Hudson Pacific Properties Inc
Exchange NYSE | Headquaters Los Angeles, CA, United States | ||
IPO Launch date 2010-06-24 | Chairman & CEO Mr. Victor J. Coleman | ||
Sector Real Estate | Industry REIT - Office | Full time employees 758 | |
Full time employees 758 |
Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.
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