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 March 30 to stockholders of record on March 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 Corp (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.
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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
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