Brokerages Set Hudson Pacific Properties, Inc. (NYSE:HPP) Price Target at $6.95

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.95.

A number of equities analysts have recently issued reports on HPP shares. Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $6.00 in a research note on Thursday, August 8th. Scotiabank cut their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Wells Fargo & Company reduced their price target on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Bank of America dropped their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Morgan Stanley downgraded shares of Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $6.00 to $4.25 in a report on Wednesday, July 10th.

Insider Buying and Selling

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

Institutional Trading of Hudson Pacific Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Hudson Pacific Properties by 19.3% during the 4th 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 during the period. Jump Financial LLC grew its holdings in Hudson Pacific Properties by 140.6% in the fourth quarter. Jump Financial LLC now owns 33,200 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 19,399 shares during the period. Quest Partners LLC purchased a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at approximately $209,000. Allianz Asset Management GmbH raised its stake in shares of Hudson Pacific Properties by 114.3% during the 4th quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock worth $19,621,000 after buying an additional 1,124,100 shares during the period. Finally, Scotia Capital Inc. lifted its position in shares of Hudson Pacific Properties by 4.3% during the 4th quarter. Scotia Capital Inc. now owns 94,739 shares of the real estate investment trust’s stock valued at $882,000 after buying an additional 3,903 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Trading Down 1.7 %

Shares of NYSE HPP opened at $4.69 on Monday. Hudson Pacific Properties has a twelve month low of $4.26 and a twelve month high of $9.85. The firm has a market cap of $661.97 million, a PE ratio of -2.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31. The business has a fifty day simple moving average of $5.14 and a two-hundred day simple moving average of $5.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41.

Hudson Pacific Properties (NYSE:HPP) last released 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). The business had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Analysts expect that Hudson Pacific Properties will post 0.62 earnings per share for the current fiscal year.

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.