Jan 27 2014, 11:14am CST | by Forbes
Looking back to 4 days ago, Hudson Pacific Properties Inc (NYSE: HPP) priced a 8,250,000 share secondary stock offering at $21.50 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Monday, bargain hunters could buy shares of HPP and achieve a cost basis even cheaper than those buyers, with shares changing hands as low as $21.40 per share.
Secondaries can often present buying opportunities for bullish investors interested in purchasing shares, because the sudden extra supply of stock tends to require that the offering be priced at an attractive discount to where the stock had previously been trading before the offering announcement. At last check, Hudson Pacific Properties Inc shares are currently trading down about 0.3% on the day. The chart below shows the one year performance of HPP shares, versus its 200 day moving average:
Looking at the chart above, HPP’s low point in its 52 week range is $18.95 per share, with $24.17 as the 52 week high point — that compares with a last trade of $21.43.
The current annualized dividend paid by Hudson Pacific Properties Inc is $0.50/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 12/18/2013. Below is a long-term dividend history chart for HPP, which can be of good help in judging whether the most recent dividend with approx. 2.3% annualized yield is likely to continue.
According to the ETF Finder at ETFChannel.com, HPP makes up 1.99% of the Guru Index ETF (AMEX: GURU) which is trading lower by about 0.5% on the day Monday.
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