Hudson Pacific Properties (NYSE:HPP) Price Target Cut to $4.50 by Analysts at Piper Sandler

Hudson Pacific Properties (NYSE:HPP) had its price target reduced by Piper Sandler from $5.00 to $4.50 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price target for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Bank of America lowered their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Scotiabank reduced their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. The Goldman Sachs Group lowered their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Stock Performance

HPP opened at $3.38 on Friday. The firm has a market capitalization of $476.65 million, a PE ratio of -1.61 and a beta of 1.31. The company has a current ratio of 1.26, a quick ratio of 1.47 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a twelve month low of $3.34 and a twelve month high of $9.85. The firm’s 50-day moving average price is $4.57 and its 200 day moving average price is $4.92.

Insider Buying and Selling

In related news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares in the company, valued at $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in shares of Hudson Pacific Properties by 549.1% during the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 5,013 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Hudson Pacific Properties during the 3rd quarter worth approximately $44,000. Stifel Financial Corp acquired a new position in Hudson Pacific Properties during the third quarter worth approximately $48,000. Key Client Fiduciary Advisors LLC purchased a new stake in Hudson Pacific Properties in the second quarter valued at approximately $53,000. Finally, MQS Management LLC acquired a new stake in shares of Hudson Pacific Properties in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

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.