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HPP vs PDM
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Office
HPP vs PDM — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | REIT - Office | REIT - Office |
| Market Cap | $577M | $1.06B |
| Revenue (TTM) | $831M | $422M |
| Net Income (TTM) | $-552M | $-86M |
| Gross Margin | -42.1% | 19.1% |
| Operating Margin | -5.7% | 13.9% |
| Total Debt | $3.78B | $2.27B |
| Cash & Equiv. | $138M | $731K |
HPP vs PDM — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Hudson Pacific Prop… (HPP) | 100 | 44.0 | -56.0% |
| Piedmont Office Rea… (PDM) | 100 | 50.7 | -49.3% |
Price return only. Dividends and distributions are not included.
Quick Verdict: HPP vs PDM
Each card shows where this stock fits in a portfolio — not just who wins on paper.
HPP is the clearest fit if your priority is long-term compounding.
- 101.3% 10Y total return vs PDM's -23.2%
- +376.7% vs PDM's +29.8%
PDM carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 0 yrs, beta 1.08, yield 2.9%
- Rev growth -0.9%, EPS growth -4.7%, 3Y rev CAGR 0.1%
- Lower volatility, beta 1.08, current ratio 2.00x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | -0.9% FFO/revenue growth vs HPP's -1.3% | |
| Quality / Margins | -20.5% margin vs HPP's -66.4% | |
| Stability / Safety | Beta 1.08 vs HPP's 1.36 | |
| Dividends | 2.9% yield, vs HPP's 0.1% | |
| Momentum (1Y) | +376.7% vs PDM's +29.8% | |
| Efficiency (ROA) | -2.2% ROA vs HPP's -7.1%, ROIC 1.5% vs -0.5% |
HPP vs PDM — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
HPP vs PDM — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
Evenly matched — HPP and PDM each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
HPP is the larger business by revenue, generating $831M annually — 2.0x PDM's $422M. PDM is the more profitable business, keeping -20.5% of every revenue dollar as net income compared to HPP's -66.4%. On growth, HPP holds the edge at +22.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $831M | $422M |
| EBITDAEarnings before interest/tax | $327M | $229M |
| Net IncomeAfter-tax profit | -$552M | -$86M |
| Free Cash FlowCash after capex | $99M | $47M |
| Gross MarginGross profit ÷ Revenue | -42.1% | +19.1% |
| Operating MarginEBIT ÷ Revenue | -5.7% | +13.9% |
| Net MarginNet income ÷ Revenue | -66.4% | -20.5% |
| FCF MarginFCF ÷ Revenue | +11.9% | +11.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +22.1% | -100.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +47.8% | -23.0% |
Valuation Metrics
Evenly matched — HPP and PDM each lead in 2 of 4 comparable metrics.
Valuation Metrics
On an enterprise value basis, PDM's 10.9x EV/EBITDA is more attractive than HPP's 12.9x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $577M | $1.1B |
| Enterprise ValueMkt cap + debt − cash | $4.2B | $3.3B |
| Trailing P/EPrice ÷ TTM EPS | -0.83x | -12.61x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 12.88x | 10.86x |
| Price / SalesMarket cap ÷ Revenue | 0.69x | 1.87x |
| Price / BookPrice ÷ Book value/share | 0.15x | 0.70x |
| Price / FCFMarket cap ÷ FCF | 5.83x | — |
Profitability & Efficiency
PDM leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
PDM delivers a -5.7% return on equity — every $100 of shareholder capital generates $-6 in annual profit, vs $-16 for HPP. HPP carries lower financial leverage with a 1.18x debt-to-equity ratio, signaling a more conservative balance sheet compared to PDM's 1.52x.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -16.4% | -5.7% |
| ROA (TTM)Return on assets | -7.1% | -2.2% |
| ROICReturn on invested capital | -0.5% | +1.5% |
| ROCEReturn on capital employed | -0.7% | +2.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 1.18x | 1.52x |
| Net DebtTotal debt minus cash | $3.6B | $2.3B |
| Cash & Equiv.Liquid assets | $138M | $731,000 |
| Total DebtShort + long-term debt | $3.8B | $2.3B |
| Interest CoverageEBIT ÷ Interest expense | -2.44x | 0.35x |
Total Returns (Dividends Reinvested)
HPP leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in HPP five years ago would be worth $9,609 today (with dividends reinvested), compared to $6,046 for PDM. Over the past 12 months, HPP leads with a +376.7% total return vs PDM's +29.8%. The 3-year compound annual growth rate (CAGR) favors HPP at 33.2% vs PDM's 13.7% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -5.4% | +1.9% |
| 1-Year ReturnPast 12 months | +376.7% | +29.8% |
| 3-Year ReturnCumulative with dividends | +136.1% | +46.9% |
| 5-Year ReturnCumulative with dividends | -3.9% | -39.5% |
| 10-Year ReturnCumulative with dividends | +101.3% | -23.2% |
| CAGR (3Y)Annualised 3-year return | +33.2% | +13.7% |
Risk & Volatility
PDM leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
PDM is the less volatile stock with a 1.08 beta — it tends to amplify market swings less than HPP's 1.36 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PDM currently trades 91.9% from its 52-week high vs HPP's 71.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.36x | 1.08x |
| 52-Week HighHighest price in past year | $14.95 | $9.19 |
| 52-Week LowLowest price in past year | $1.67 | $6.32 |
| % of 52W HighCurrent price vs 52-week peak | +71.1% | +91.9% |
| RSI (14)Momentum oscillator 0–100 | 69.8 | 66.3 |
| Avg Volume (50D)Average daily shares traded | 1.2M | 1.1M |
Analyst Outlook
PDM leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates HPP as "Hold" and PDM as "Hold". Consensus price targets imply 19.6% upside for HPP (target: $13) vs 18.3% for PDM (target: $10). PDM is the only dividend payer here at 2.94% yield — a key consideration for income-focused portfolios.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $12.71 | $10.00 |
| # AnalystsCovering analysts | 23 | 11 |
| Dividend YieldAnnual dividend ÷ price | +0.1% | +2.9% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.01 | $0.25 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.3% | 0.0% |
PDM leads in 3 of 6 categories (Profitability & Efficiency, Risk & Volatility). HPP leads in 1 (Total Returns). 2 tied.
HPP vs PDM: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is HPP or PDM a better buy right now?
For growth investors, Piedmont Office Realty Trust, Inc.
(PDM) is the stronger pick with -0. 9% revenue growth year-over-year, versus -1. 3% for Hudson Pacific Properties, Inc. (HPP). Analysts rate Hudson Pacific Properties, Inc. (HPP) a "Hold" — based on 23 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — HPP or PDM?
Over the past 5 years, Hudson Pacific Properties, Inc.
(HPP) delivered a total return of -3. 9%, compared to -39. 5% for Piedmont Office Realty Trust, Inc. (PDM). Over 10 years, the gap is even starker: HPP returned +101. 3% versus PDM's -23. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — HPP or PDM?
By beta (market sensitivity over 5 years), Piedmont Office Realty Trust, Inc.
(PDM) is the lower-risk stock at 1. 08β versus Hudson Pacific Properties, Inc. 's 1. 36β — meaning HPP is approximately 25% more volatile than PDM relative to the S&P 500. On balance sheet safety, Hudson Pacific Properties, Inc. (HPP) carries a lower debt/equity ratio of 118% versus 152% for Piedmont Office Realty Trust, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — HPP or PDM?
By revenue growth (latest reported year), Piedmont Office Realty Trust, Inc.
(PDM) is pulling ahead at -0. 9% versus -1. 3% for Hudson Pacific Properties, Inc. (HPP). On earnings-per-share growth, the picture is similar: Hudson Pacific Properties, Inc. grew EPS 29. 1% year-over-year, compared to -4. 7% for Piedmont Office Realty Trust, Inc.. Over a 3-year CAGR, PDM leads at 0. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — HPP or PDM?
Piedmont Office Realty Trust, Inc.
(PDM) is the more profitable company, earning -14. 8% net margin versus -66. 4% for Hudson Pacific Properties, Inc. — meaning it keeps -14. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PDM leads at 14. 1% versus -5. 7% for HPP. At the gross margin level — before operating expenses — PDM leads at -20. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — HPP or PDM?
In this comparison, PDM (2.
9% yield) pays a dividend. HPP does not pay a meaningful dividend and should not be held primarily for income.
07Is HPP or PDM better for a retirement portfolio?
For long-horizon retirement investors, Piedmont Office Realty Trust, Inc.
(PDM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 08), 2. 9% yield). Both have compounded well over 10 years (PDM: -23. 2%, HPP: +101. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between HPP and PDM?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
PDM pays a dividend while HPP does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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