Hudson Pacific Properties (NYSE:HPP) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Hudson Pacific Properties (NYSE:HPP) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $2.70 price target on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the company. Piper Sandler reduced their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group reduced their price objective on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Scotiabank cut their target price on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price for the company in a research report on Monday, March 10th. Finally, Mizuho cut their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.54.

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP opened at $2.95 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $3.69. The company has a market cap of $416.28 million, a PE ratio of -1.15 and a beta of 1.31. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $6.82.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $209.67 million during the quarter, compared to the consensus estimate of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. On average, equities research analysts forecast that Hudson Pacific Properties will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DigitalBridge Group Inc. acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at $2,199,000. Alpine Global Management LLC acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at $185,000. Two Sigma Advisers LP lifted its position in shares of Hudson Pacific Properties by 98.1% during the 4th quarter. Two Sigma Advisers LP now owns 631,800 shares of the real estate investment trust’s stock valued at $1,914,000 after acquiring an additional 312,900 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Hudson Pacific Properties by 103.2% during the 4th quarter. Two Sigma Investments LP now owns 1,192,633 shares of the real estate investment trust’s stock valued at $3,614,000 after acquiring an additional 605,759 shares during the last quarter. Finally, Saba Capital Management L.P. lifted its position in shares of Hudson Pacific Properties by 105.2% during the 4th quarter. Saba Capital Management L.P. now owns 1,790,762 shares of the real estate investment trust’s stock valued at $5,426,000 after acquiring an additional 918,045 shares during the last quarter. Institutional investors and hedge funds 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.