Jefferies Financial Group Downgrades Hudson Pacific Properties (NYSE:HPP) to Hold

Hudson Pacific Properties (NYSE:HPP) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $5.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $5.50. Jefferies Financial Group’s price target would indicate a potential upside of 18.34% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Bank of America cut their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Piper Sandler downgraded Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Finally, BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $6.00 in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Hudson Pacific Properties currently has an average rating of “Hold” and an average price target of $6.30.

Hudson Pacific Properties Price Performance

NYSE HPP opened at $4.23 on Tuesday. Hudson Pacific Properties has a one year low of $4.04 and a one year high of $9.85. The stock has a 50-day moving average of $4.64 and a 200 day moving average of $4.97. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $596.70 million, a price-to-earnings ratio of -2.02 and a beta of 1.31.

Insider Activity

In related news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now directly owns 3,713 shares of the company’s stock, valued at $19,307.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its stake in Hudson Pacific Properties by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust’s stock valued at $715,000 after buying an additional 2,164 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Hudson Pacific Properties by 9.9% during the 3rd quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 2,399 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Hudson Pacific Properties by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 2,408 shares in the last quarter. abrdn plc increased its position in Hudson Pacific Properties by 10.5% in the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 2,710 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Hudson Pacific Properties by 10.0% during the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 3,802 shares in the last quarter. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Company Profile

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.