Morgan Stanley Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $2.25

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

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a research report on Monday. They set a “hold” rating and a $2.70 price objective for the company. The Goldman Sachs Group lowered their price objective on shares of 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. Scotiabank lowered their price objective on shares of 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. Mizuho lowered their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company raised shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus target price of $3.54.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $2.95 on Tuesday. 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 firm has a fifty day moving average price of $3.00 and a 200 day moving average price of $3.69. Hudson Pacific Properties has a fifty-two week low of $2.39 and a fifty-two week high of $6.82. The firm has a market cap of $416.28 million, a price-to-earnings ratio of -1.15 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last released 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 analyst estimates of $207.95 million. As a group, sell-side analysts expect that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. DigitalBridge Group Inc. purchased a new position in Hudson Pacific Properties in the 4th quarter worth about $2,199,000. Alpine Global Management LLC purchased a new position in Hudson Pacific Properties in the 4th quarter worth about $185,000. Two Sigma Advisers LP increased its stake in Hudson Pacific Properties by 98.1% in the 4th quarter. Two Sigma Advisers LP now owns 631,800 shares of the real estate investment trust’s stock worth $1,914,000 after buying an additional 312,900 shares during the period. Two Sigma Investments LP increased its stake in Hudson Pacific Properties by 103.2% in the 4th quarter. Two Sigma Investments LP now owns 1,192,633 shares of the real estate investment trust’s stock worth $3,614,000 after buying an additional 605,759 shares during the period. Finally, Saba Capital Management L.P. increased its stake in Hudson Pacific Properties by 105.2% in the 4th quarter. Saba Capital Management L.P. now owns 1,790,762 shares of the real estate investment trust’s stock worth $5,426,000 after buying an additional 918,045 shares during the period. 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.