Scotiabank Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price target decreased by analysts at Scotiabank from $4.00 to $3.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential downside of 3.35% from the stock’s current price.

Several other research firms have also recently weighed in on HPP. Jefferies Financial Group lowered their price target on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Mizuho lowered their price target on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler lowered their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.80.

Hudson Pacific Properties Stock Up 5.9 %

Shares of NYSE HPP opened at $3.10 on Tuesday. Hudson Pacific Properties has a 52 week low of $2.39 and a 52 week high of $7.20. The business has a 50-day simple moving average of $2.98 and a two-hundred day simple moving average of $3.98. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a market cap of $438.38 million, a P/E ratio of -1.49 and a beta of 1.30.

Insider Activity at Hudson Pacific Properties

In other news, CEO Victor J. Coleman acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average cost of $2.87 per share, with a total value of $143,500.00. Following the acquisition, the chief executive officer now owns 487,451 shares in the company, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Large investors have recently modified their holdings of the company. GeoWealth Management LLC bought a new position in Hudson Pacific Properties during the 4th quarter worth approximately $27,000. Blue Trust Inc. grew its position in Hudson Pacific Properties by 549.1% during the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 5,013 shares during the last quarter. Xponance Inc. bought a new position in Hudson Pacific Properties during the 4th quarter worth approximately $30,000. Opinicus Capital Inc. bought a new position in Hudson Pacific Properties during the 4th quarter worth approximately $32,000. Finally, Cibc World Markets Corp bought a new position in Hudson Pacific Properties during the 4th quarter worth approximately $39,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

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.