Hudson Pacific Properties, Inc. (NYSE:HPP) Given Average Rating of “Reduce” by Brokerages

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have received an average recommendation of “Reduce” from the ten research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.44.

HPP has been the subject of a number of research reports. Scotiabank decreased their price target on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Piper Sandler decreased their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Monday. Mizuho decreased their price target 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. Finally, Jefferies Financial Group reduced their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd.

Insider Activity

In other Hudson Pacific Properties news, CEO Victor J. Coleman bought 50,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

A number of hedge funds have recently modified their holdings of the business. DigitalBridge Group Inc. purchased a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at $2,199,000. Alpine Global Management LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth $185,000. Two Sigma Advisers LP raised its holdings in shares of Hudson Pacific Properties by 98.1% during the fourth quarter. Two Sigma Advisers LP now owns 631,800 shares of the real estate investment trust’s stock worth $1,914,000 after acquiring an additional 312,900 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Hudson Pacific Properties by 103.2% during the fourth quarter. Two Sigma Investments LP now owns 1,192,633 shares of the real estate investment trust’s stock worth $3,614,000 after acquiring an additional 605,759 shares in the last quarter. Finally, Saba Capital Management L.P. raised its holdings in shares of Hudson Pacific Properties by 105.2% during the fourth quarter. Saba Capital Management L.P. now owns 1,790,762 shares of the real estate investment trust’s stock worth $5,426,000 after acquiring an additional 918,045 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Up 1.5 %

HPP opened at $3.05 on Thursday. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $7.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $430.05 million, a P/E ratio of -1.18 and a beta of 1.30. The stock’s 50 day moving average price is $2.97 and its 200 day moving average price is $3.93.

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

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.