Hudson Pacific Properties (NYSE:HPP) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group lowered shares of Hudson Pacific Properties (NYSE:HPP) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has $5.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $5.50.

Other analysts have also issued research reports about the company. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Scotiabank dropped their price target 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. BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.30.

Hudson Pacific Properties Stock Performance

NYSE:HPP opened at $3.97 on Tuesday. The firm has a market cap of $560.68 million, a PE ratio of -1.90 and a beta of 1.31. Hudson Pacific Properties has a fifty-two week low of $3.93 and a fifty-two week high of $9.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.47 and a current ratio of 1.26. The business has a 50 day moving average price of $4.62 and a 200-day moving average price of $4.96.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The trade was a 71.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Hudson Pacific Properties by 13.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after acquiring an additional 630,932 shares during the period. Millennium Management LLC grew its stake in shares of 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 valued at $8,594,000 after acquiring an additional 1,319,869 shares during the period. B&I Capital AG grew its stake in shares of Hudson Pacific Properties by 23.4% during the 2nd quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock valued at $8,174,000 after acquiring an additional 322,033 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Hudson Pacific Properties by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock valued at $6,209,000 after acquiring an additional 43,728 shares during the period. Finally, Kennedy Capital Management LLC grew its stake in shares of Hudson Pacific Properties by 50.6% during the 1st quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock valued at $8,000,000 after acquiring an additional 416,591 shares during the period. 97.58% of the stock is currently owned by institutional investors.

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.