Wells Fargo & Company Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $4.50

Hudson Pacific Properties (NYSE:HPP) had its target price trimmed by Wells Fargo & Company from $5.00 to $4.50 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Several other research analysts have also commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a neutral rating for the company in a research note on Wednesday, August 14th. Piper Sandler lowered 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, August 8th. Morgan Stanley downgraded Hudson Pacific Properties from an equal weight rating to an underweight rating and dropped their target price for the stock from $6.00 to $4.25 in a research note on Wednesday, July 10th. Bank of America decreased their price target on Hudson Pacific Properties from $4.50 to $4.00 and set an underperform rating for the company in a research note on Thursday, August 22nd. Finally, Wolfe Research downgraded shares of Hudson Pacific Properties from an outperform rating to a peer perform rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $6.95.

Hudson Pacific Properties Stock Up 2.3 %

Hudson Pacific Properties stock opened at $4.96 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. The firm has a market cap of $700.50 million, a P/E ratio of -3.10, a P/E/G ratio of 0.84 and a beta of 1.31. The business has a fifty day moving average of $5.20 and a two-hundred day moving average of $5.47. Hudson Pacific Properties has a twelve month low of $4.26 and a twelve month high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The company had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $216.08 million. During the same quarter last year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, analysts forecast that Hudson Pacific Properties will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Hudson Pacific Properties

In related news, Director Jonathan M. Glaser sold 9,287 shares of the business’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 completion of the transaction, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently modified their holdings of HPP. Victory Capital Management Inc. raised its position in Hudson Pacific Properties by 19.3% during the fourth quarter. Victory Capital Management Inc. now owns 26,456 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 4,271 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of Hudson Pacific Properties by 9.4% during the 4th quarter. Natixis Advisors L.P. now owns 33,247 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 2,852 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Hudson Pacific Properties by 12.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,097,841 shares of the real estate investment trust’s stock valued at $38,151,000 after purchasing an additional 439,331 shares in the last quarter. Versor Investments LP acquired a new position in shares of Hudson Pacific Properties in the 4th quarter valued at $99,000. Finally, Jump Financial LLC boosted its holdings in Hudson Pacific Properties by 140.6% during the fourth quarter. Jump Financial LLC now owns 33,200 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 19,399 shares in the last quarter. Institutional investors and hedge funds 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.