Shares of Hudson Pacific Properties Inc. (NYSE:HPP) traded today at $30.35, eclipsing its 52-week high. This new high was reached on below average trading volume as 295,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.
Hudson Pacific Properties Inc. (NYSE:HPP) defies analysts with a current price ($29.91) 78.7% above its average consensus price target of $6.38.
Hudson Pacific Properties Inc is a real estate investment trust that acquires, operates, and owns office buildings and media and entertainment properties, such as sound-stages, on America's West Coast. The company primarily focuses on developed, urban markets in Northern California, Southern California, and the Pacific Northwest. In terms of total square footage, the vast majority of Hudson Pacific's real estate portfolio is composed of office properties located in the Greater Seattle, San Francisco, and Los Angeles areas. The company derives most of its income in the form of rental revenue from its office assets in these three cities. Hudson Pacific's largest tenants include a variety of technology, law services, and entertainment firms.
In the past 52 weeks, Hudson Pacific Properties Inc. share prices are bracketed by a low of $18.62 and a high of $30.35 and is now at $29.91, 61% above that low price.
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