Hudson Pacific Properties (NYSE:HPP) Stock Rating Lowered by BMO Capital Markets

BMO Capital Markets cut shares of Hudson Pacific Properties (NYSE:HPP) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat.com reports. They currently have $6.00 target price on the real estate investment trust’s stock, down from their prior target price of $8.00.

Several other equities analysts have also issued reports on HPP. Morgan Stanley lowered Hudson Pacific Properties from an equal weight rating to an underweight rating and lowered their price target for the company from $6.00 to $4.25 in a research note on Wednesday, July 10th. The Goldman Sachs Group decreased their price objective on Hudson Pacific Properties from $9.00 to $7.00 and set a neutral rating on the stock in a report on Tuesday, May 7th. Finally, Piper Sandler downgraded Hudson Pacific Properties from an overweight rating to a neutral rating and decreased their price objective for the company from $7.00 to $6.00 in a report on Thursday. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $7.52.

Hudson Pacific Properties Stock Performance

HPP traded down $0.03 on Thursday, hitting $4.68. 1,824,111 shares of the stock traded hands, compared to its average volume of 2,421,392. Hudson Pacific Properties has a 52 week low of $4.26 and a 52 week high of $9.85. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $660.56 million, a PE ratio of -2.94, a P/E/G ratio of 0.76 and a beta of 1.32. The business has a fifty day moving average price of $5.12 and a two-hundred day moving average price of $5.97.

Hudson Pacific Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, June 17th. Hudson Pacific Properties’s payout ratio is -12.50%.

Insider Activity at Hudson Pacific Properties

In related news, CEO Victor J. Coleman sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total value of $518,000.00. Following the completion of the sale, the chief executive officer now owns 387,451 shares in the company, valued at approximately $2,006,996.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 13,420 shares of company stock worth $59,912 in the last quarter. Corporate insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC acquired a new position in shares of Hudson Pacific Properties during the 2nd quarter worth about $53,000. Tower Research Capital LLC TRC boosted its stake in shares of Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 2,286 shares during the last quarter. Versor Investments LP acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth about $99,000. First Trust Direct Indexing L.P. acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth about $102,000. Finally, GAMMA Investing LLC acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth about $102,000. Institutional investors own 97.58% of the company’s stock.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.