Scotiabank Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its target price lowered by Scotiabank from $4.00 to $3.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on HPP. Jefferies Financial Group dropped their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Piper Sandler dropped their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Mizuho dropped their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, Hudson Pacific Properties currently has a consensus rating of “Hold” and a consensus target price of $4.80.

Hudson Pacific Properties Stock Performance

NYSE:HPP opened at $2.93 on Tuesday. The firm has a market capitalization of $413.10 million, a PE ratio of -1.40 and a beta of 1.30. The business’s fifty day moving average price is $2.99 and its 200 day moving average price is $4.00. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $7.20.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman bought 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $3.53 per share, for a total transaction of $176,500.00. Following the completion of the purchase, the chief executive officer now owns 437,451 shares of the company’s stock, valued at approximately $1,544,202.03. This represents a 12.90 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds have recently made changes to their positions in the business. GeoWealth Management LLC acquired a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $27,000. Blue Trust Inc. lifted its position in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 5,013 shares during the period. Xponance Inc. acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at about $30,000. Opinicus Capital Inc. acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at about $32,000. Finally, Cibc World Markets Corp acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

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.