Morgan Stanley Issues Pessimistic Forecast for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price objective reduced by Morgan Stanley from $2.40 to $2.25 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price would suggest a potential downside of 23.60% from the company’s current price.

A number of other analysts also recently weighed in on the company. Scotiabank decreased their price objective on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Mizuho decreased their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Piper Sandler decreased their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, February 24th. Jefferies Financial Group started coverage on Hudson Pacific Properties in a report on Monday. They issued a “hold” rating and a $2.70 price objective for the company. Finally, Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective for the company in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.54.

Hudson Pacific Properties Trading Down 0.8 %

Shares of HPP stock opened at $2.95 on Tuesday. 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 cap of $416.28 million, a P/E ratio of -1.15 and a beta of 1.31. The stock has a 50 day simple moving average of $3.00 and a 200 day simple moving average of $3.69. Hudson Pacific Properties has a 1 year low of $2.39 and a 1 year high of $6.82.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $207.95 million. On average, research analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HPP. Balyasny Asset Management L.P. increased its stake in shares of Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after purchasing an additional 7,303,472 shares in the last quarter. Millennium Management LLC increased its stake in shares of Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after purchasing an additional 5,554,444 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Hudson Pacific Properties by 853.2% in the fourth quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust’s stock worth $5,590,000 after purchasing an additional 1,651,382 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Hudson Pacific Properties by 95.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust’s stock worth $7,895,000 after purchasing an additional 1,275,236 shares in the last quarter. Finally, Davis Selected Advisers increased its stake in shares of Hudson Pacific Properties by 88.0% in the fourth quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock worth $6,911,000 after purchasing an additional 1,067,940 shares in the last quarter. 97.58% of the stock is owned by hedge funds and other 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.