Hudson Pacific Properties (NYSE:HPP) Hits New 52-Week Low Following Analyst Downgrade

Hudson Pacific Properties, Inc. (NYSE:HPP) hit a new 52-week low on Monday after Piper Sandler lowered their price target on the stock from $5.00 to $4.50. Piper Sandler currently has a neutral rating on the stock. Hudson Pacific Properties traded as low as $3.55 and last traded at $3.59, with a volume of 61964 shares trading hands. The stock had previously closed at $3.68.

Several other research analysts have also recently issued reports on HPP. BMO Capital Markets cut shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. The Goldman Sachs Group dropped their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Scotiabank decreased their price objective on shares of 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. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and decreased their price objective for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.17.

Insider Buying and Selling

In related news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction 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 transaction, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of 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 in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Hudson Pacific Properties during the 3rd quarter valued at $44,000. Stifel Financial Corp acquired a new stake in Hudson Pacific Properties during the third quarter valued at $48,000. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties during the 2nd quarter worth about $53,000. Finally, MQS Management LLC acquired a new stake in shares of Hudson Pacific Properties during the 3rd quarter valued at about $58,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

Hudson Pacific Properties Stock Down 1.2 %

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 business’s fifty day moving average price is $4.54 and its two-hundred day moving average price is $4.91. The firm has a market cap of $470.30 million, a P/E ratio of -1.59 and a beta of 1.31.

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.