Jefferies Financial Group Lowers Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its price target reduced by equities researchers at Jefferies Financial Group from $3.70 to $3.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price points to a potential upside of 3.45% from the company’s previous close.

A number of other analysts also recently weighed in on HPP. Wells Fargo & Company cut their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Piper Sandler cut their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.29.

Hudson Pacific Properties Trading Up 1.4 %

Shares of HPP stock opened at $2.90 on Thursday. The stock has a market cap of $409.57 million, a P/E ratio of -1.39 and a beta of 1.27. Hudson Pacific Properties has a 1 year low of $2.39 and a 1 year high of $9.84. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a 50 day simple moving average of $3.57 and a 200 day simple moving average of $4.50.

Insider Activity

In other news, CEO Victor J. Coleman acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $2.87 per share, with a total value of $143,500.00. Following the acquisition, the chief executive officer now directly owns 487,451 shares in the company, valued at $1,398,984.37. The trade was a 11.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Large investors have recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after buying an additional 1,319,869 shares during the period. Scion Asset Management LLC bought a new stake in Hudson Pacific Properties during the 2nd quarter worth approximately $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hudson Pacific Properties by 450.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock valued at $5,096,000 after acquiring an additional 872,538 shares during the period. GSA Capital Partners LLP raised its stake in shares of Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after acquiring an additional 720,549 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Hudson Pacific Properties by 13.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after purchasing an additional 630,932 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.