Hudson Pacific Properties (NYSE:HPP) Given New $3.50 Price Target at BMO Capital Markets

Hudson Pacific Properties (NYSE:HPP) had its target price decreased by BMO Capital Markets from $4.00 to $3.50 in a research report report published on Friday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on HPP. BTIG Research set a $8.00 target price on shares of Hudson Pacific Properties and gave the stock a “buy” rating in a report on Tuesday, May 6th. Jefferies Financial Group assumed coverage on Hudson Pacific Properties in a report on Monday, March 17th. They set a “hold” rating and a $2.70 price target on the stock. Scotiabank cut their price target on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Wedbush reaffirmed a “neutral” rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Finally, Piper Sandler set a $2.00 price target on Hudson Pacific Properties and gave the company a “neutral” rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and a consensus target price of $3.37.

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP opened at $2.77 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm’s 50-day moving average price is $2.18 and its two-hundred day moving average price is $2.74. Hudson Pacific Properties has a 52-week low of $1.78 and a 52-week high of $6.29. The stock has a market capitalization of $390.95 million, a P/E ratio of -1.08 and a beta of 1.43.

Hudson Pacific Properties (NYSE:HPP) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The firm had revenue of $198.46 million for the quarter, compared to analysts’ expectations of $199.95 million. As a group, sell-side analysts forecast that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Hudson Pacific Properties during the first quarter valued at approximately $73,000. IFM Investors Pty Ltd acquired a new position in Hudson Pacific Properties in the first quarter worth approximately $93,000. Caxton Associates LLP acquired a new position in Hudson Pacific Properties in the first quarter worth approximately $82,000. Presima Securities ULC grew its position in Hudson Pacific Properties by 10.4% in the first quarter. Presima Securities ULC now owns 2,765,776 shares of the real estate investment trust’s stock worth $8,159,000 after buying an additional 260,793 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Hudson Pacific Properties by 140.3% in the first quarter. AQR Capital Management LLC now owns 348,203 shares of the real estate investment trust’s stock worth $1,027,000 after buying an additional 203,283 shares during 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.