Hudson Pacific Properties, Inc. (NYSE:HPP) Receives Consensus Recommendation of “Reduce” from Analysts

Hudson Pacific Properties, Inc. (NYSE:HPP) has been given a consensus rating of “Reduce” by the ten research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.26.

HPP has been the subject of several recent analyst reports. Wells Fargo & Company upgraded shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price for the company in a research note on Monday, March 10th. Jefferies Financial Group lowered their target price on shares of 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. Piper Sandler lowered 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 note on Monday, February 24th. The Goldman Sachs Group decreased their price target on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Mizuho decreased their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th.

Insider Buying and Selling

In other news, CEO Victor J. Coleman purchased 50,000 shares of the stock in a transaction on 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 acquisition, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HPP. Balyasny Asset Management L.P. boosted its holdings in shares of Hudson Pacific Properties by 265.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after buying an additional 7,303,472 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Hudson Pacific Properties by 303.5% in the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after buying an additional 5,554,444 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Hudson Pacific Properties by 853.2% in the 4th quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust’s stock valued at $5,590,000 after buying an additional 1,651,382 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Hudson Pacific Properties by 95.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust’s stock valued at $7,895,000 after buying an additional 1,275,236 shares in the last quarter. Finally, Davis Selected Advisers boosted its holdings in shares of Hudson Pacific Properties by 88.0% in the 4th quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock valued at $6,911,000 after buying an additional 1,067,940 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Up 3.6 %

Shares of NYSE HPP opened at $2.75 on Monday. The firm’s 50-day moving average price is $2.99 and its 200-day moving average price is $3.73. 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 market capitalization of $388.01 million, a price-to-earnings ratio of -1.07 and a beta of 1.31. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $6.82.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. On average, equities research analysts anticipate that Hudson Pacific Properties will post 0.45 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.