Wells Fargo & Company Upgrades Hudson Pacific Properties (NYSE:HPP) to “Overweight”

Wells Fargo & Company upgraded shares of Hudson Pacific Properties (NYSE:HPP) from an equal weight rating to an overweight rating in a report released on Monday morning, MarketBeat reports. They currently have $4.00 price objective on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on the stock. Mizuho lowered their price objective on shares of 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. Scotiabank lowered 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 report on Tuesday, February 18th. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group reduced their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Piper Sandler dropped their target price on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.26.

Hudson Pacific Properties Stock Down 9.0 %

Shares of NYSE:HPP opened at $2.87 on Monday. 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 firm has a market cap of $404.98 million, a price-to-earnings ratio of -1.11 and a beta of 1.31. The stock’s 50-day moving average price is $3.01 and its two-hundred day moving average price is $3.82. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $6.96.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The business had revenue of $209.67 million for the quarter, compared to analysts’ expectations of $207.95 million. On average, research analysts forecast that Hudson Pacific Properties will post 0.45 EPS for the current year.

Insider Buying and Selling

In other news, CEO Victor J. Coleman purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following the acquisition, the chief executive officer now owns 487,451 shares in the company, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of Hudson Pacific Properties by 9.9% during the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 2,399 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Hudson Pacific Properties by 10.0% in the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 3,802 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Hudson Pacific Properties by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock valued at $529,000 after purchasing an additional 5,448 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Hudson Pacific Properties by 16.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 6,704 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Hudson Pacific Properties by 71.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,674 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 7,807 shares during the last quarter. 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.