Hudson Pacific Properties, Inc. (NYSE:HPP) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have been assigned a consensus rating of “Reduce” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.17.

HPP has been the subject of several research analyst reports. Scotiabank reduced their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Wells Fargo & Company reduced their price objective on shares of 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. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price objective for the company from $5.50 to $5.00 in a research report on Tuesday, November 12th. Piper Sandler reduced their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Bank of America decreased their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the stock in a transaction dated 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 directly owns 61,068 shares in the company, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Victor J. Coleman purchased 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $3.53 per share, for a total transaction of $176,500.00. Following the completion of the purchase, the chief executive officer now directly owns 437,451 shares of the company’s stock, valued at approximately $1,544,202.03. This represents a 12.90 % increase in their position. The disclosure for this purchase can be found here. 2.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Anthracite Investment Company Inc. acquired a new position in Hudson Pacific Properties in the 3rd quarter valued at approximately $1,320,000. Wolverine Asset Management LLC increased its holdings in Hudson Pacific Properties by 42.3% in the third quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock valued at $2,755,000 after purchasing an additional 171,424 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Hudson Pacific Properties during the 3rd quarter worth $1,332,000. Millennium Management LLC raised its position in Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares during the last quarter. Finally, Scion Asset Management LLC acquired a new position in Hudson Pacific Properties during the 2nd quarter worth about $5,505,000. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Trading Down 0.6 %

Hudson Pacific Properties stock opened at $3.28 on Friday. The stock has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $4.69. The stock has a market capitalization of $463.23 million, a P/E ratio of -1.57 and a beta of 1.27. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. Hudson Pacific Properties has a 52 week low of $3.01 and a 52 week high of $9.85.

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.