Hudson Pacific Properties, Inc. (NYSE:HPP) Receives $6.94 Consensus Target Price from Analysts

Hudson Pacific Properties, Inc. (NYSE:HPP) has been assigned a consensus rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.94.

Several analysts have recently issued reports on HPP shares. Morgan Stanley cut Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $6.00 to $4.25 in a research note on Wednesday, July 10th. Piper Sandler cut Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $6.00 in a research note on Thursday, August 8th. Scotiabank reduced their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. The Goldman Sachs Group dropped their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, Wells Fargo & Company dropped their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th.

Insiders Place Their Bets

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of Hudson Pacific Properties by 225.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 116,945 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Hudson Pacific Properties by 167.2% during the first quarter. GSA Capital Partners LLP now owns 302,179 shares of the real estate investment trust’s stock worth $1,949,000 after buying an additional 189,104 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC purchased a new position in shares of Hudson Pacific Properties during the second quarter worth about $5,505,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Hudson Pacific Properties by 405.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock worth $1,995,000 after buying an additional 248,117 shares during the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Up 7.6 %

Shares of NYSE HPP opened at $4.98 on Friday. The stock has a market cap of $702.90 million, a P/E ratio of -3.11 and a beta of 1.31. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties has a 12-month low of $4.26 and a 12-month high of $9.85. The business’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $5.17.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.50). The company had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.08 million. Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The firm’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, equities analysts predict that Hudson Pacific Properties will post 0.57 EPS for the current fiscal 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.