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Blessed is the coming kingdom of our father David
"Blessed is our father David's coming kingdom." This refers to Jesus coming and ruling as king. The word "blessed" can be translated as an active verb. AT: "Blessed be the coming of your kingdom" or "May God bless you as you rule your coming kingdom" (See: rc://en/ta/man/translate/figs-explicit and rc://en/ta/man/translate/figs-activepassive)
of our father David
Here David's descendant who will rule is referred to as David himself. AT: "of the greatest descendant of our father David" or "that David's greatest descendant will rule" (See: rc://en/ta/man/translate/figs-metonymy)
Hosanna in the highest
Possible meanings are 1) "Praise God who is in heaven" or 2) "Let those who are in heaven shout 'Hosanna'."
the highest
Here heaven is spoken of as "the highest." AT: "the highest heaven" or "heaven" (See: rc://en/ta/man/translate/figs-metaphor)