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Strength Seen in Hudson Pacific (HPP): Can Its 5.3% Jump Turn into More Strength?

Hudson Pacific Properties HPP shares rallied 5.3% in the last trading session to close at $16.20. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 22.4% loss over the past four weeks.

Hudson Pacific Properties’ focus on premium office and state-of-the-art studio properties in high-growth, high-barrier-to-entry submarkets on the West coast of the United States is likely enabling it to enjoy strong leasing volumes. Given that numerous companies are reembracing the return-to-office strategy, HPP's unique portfolio of assets in urban west coast tech hubs provides competitive advantages to the REIT and will drive higher leasing rates. This is anticipated to have led to bullish investor sentiments, which likely drove the HPP stock.

This real estate investment trust is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of +4.1%. Revenues are expected to be $239.99 million, up 11.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Hudson Pacific, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HPP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Hudson Pacific is a member of the Zacks REIT and Equity Trust - Other industry. One other stock in the same industry, Americold Realty Trust Inc. (COLD), finished the last trading session 1.6% lower at $27.95. COLD has returned 12.9% over the past month.

For Americold Realty Trust Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. This represents a change of -10.7% from what the company reported a year ago. Americold Realty Trust Inc. currently has a Zacks Rank of #4 (Sell).


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