Brokerages Set Hudson Pacific Properties, Inc. (NYSE:HPP) Price Target at $4.26

Hudson Pacific Properties, Inc. (NYSE:HPP) has received an average recommendation of “Reduce” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.54.

HPP has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Hudson Pacific Properties in a report on Monday. They issued a “hold” rating and a $2.70 target price for the company. Morgan Stanley reduced their target price on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating for the company in a report on Tuesday. Scotiabank dropped 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 report on Tuesday, February 25th. Finally, Piper Sandler dropped their price target on 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.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock opened at $2.95 on Monday. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $6.82. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The business has a fifty day moving average of $3.00 and a two-hundred day moving average of $3.69. The company has a market cap of $416.28 million, a P/E ratio of -1.15 and a beta of 1.31.

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

Institutional Trading of Hudson Pacific Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPP. Balyasny Asset Management L.P. increased its position in Hudson Pacific Properties by 265.5% during the 4th 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 position in Hudson Pacific Properties by 303.5% during the 4th 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 position in Hudson Pacific Properties by 853.2% during the 4th 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 position in Hudson Pacific Properties by 95.9% during the 4th 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 position in Hudson Pacific Properties by 88.0% during the 4th 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. Hedge funds and other institutional investors 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.