The Goldman Sachs Group Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price target lowered by equities researchers at The Goldman Sachs Group from $3.40 to $2.30 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 5.26% from the company’s current price.

A number of other analysts have also issued reports on the company. Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective on the stock in a research note on Monday, March 10th. Scotiabank cut their price objective on shares of 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. Morgan Stanley reiterated an “underweight” rating and issued a $1.75 target price on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $3.50 to $2.50 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, Mizuho dropped their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.14.

Hudson Pacific Properties Stock Performance

Shares of HPP stock traded down $0.02 on Tuesday, hitting $2.19. 401,548 shares of the stock were exchanged, compared to its average volume of 2,863,311. The firm’s 50 day moving average is $2.77 and its two-hundred day moving average is $3.28. Hudson Pacific Properties has a one year low of $2.00 and a one year high of $6.29. The firm has a market capitalization of $308.86 million, a PE ratio of -0.85 and a beta of 1.30. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The company had revenue of $209.67 million for the quarter, compared to analysts’ expectations of $207.95 million. Sell-side analysts expect that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Hudson Pacific Properties

A number of hedge funds have recently bought and sold shares of the company. GeoWealth Management LLC purchased a new position in shares of Hudson Pacific Properties during the fourth quarter worth approximately $27,000. Xponance Inc. purchased a new position in Hudson Pacific Properties in the 4th quarter worth $30,000. Stifel Financial Corp bought a new stake in Hudson Pacific Properties in the third quarter worth $48,000. Opinicus Capital Inc. purchased a new stake in Hudson Pacific Properties during the fourth quarter valued at about $32,000. Finally, Cibc World Markets Corp bought a new position in shares of Hudson Pacific Properties during the fourth quarter valued at about $39,000. 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.