Much to the delight of its shareholders, Hudson Pacific Properties, Inc. HPP announced a quarterly common stocks dividend of 25 cents per share. This marks an increase of 25% from that of the prior payment. The increased dividend will be paid on Mar 30 to stockholders of record on Mar 20.
Hudson Pacific Properties is focused on owning, operating and acquiring office properties and media and entertainment properties in select growth markets primarily in Northern and Southern California. The hiked dividend is equivalent to an annual rate of $1 per share, up from the earlier annual dividend rate of 80 cents per share. In 2016, the company did not raise the dividend rate. The last time, it raised the payout was by 60% from 12.5 cents per share to 2 cents back in the fourth-quarter 2015.
In fourth-quarter 2016, the company reported funds from operations (“FFO”) per share of 46 cents, in line with the Zacks Consensus Estimate. In the four trailing quarters, Hudson Pacific Properties recorded positive average surprise of 2.95%.
Investors interested in the REIT and Equity Trust – Other industry, may have a look at stocks like Global Net Lease, Inc. GNL, CoreSite Realty Corporation COR and CorEnergy Infrastructure Trust, Inc. CORR.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Hudson Pacific Properties, Inc. (HPP): Free Stock Analysis Report
CoreSite Realty Corporation (COR): Free Stock Analysis Report
CorEnergy Infrastructure Trust, Inc. (CORR): Free Stock Analysis Report
Global Net Lease, Inc. (GNL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research