Piper Sandler Issues Pessimistic Forecast for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price objective cut by Piper Sandler from $4.50 to $3.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target points to a potential upside of 14.19% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Scotiabank reduced their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group cut their target price 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. Finally, Mizuho decreased their target price 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. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.31.

Hudson Pacific Properties Stock Up 1.2 %

NYSE:HPP opened at $3.07 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $7.20. The firm’s 50 day simple moving average is $2.97 and its 200 day simple moving average is $3.91. The company has a market cap of $432.87 million, a PE ratio of -1.19 and a beta of 1.30.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $209.67 million for the quarter, compared to analysts’ expectations of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. On average, research analysts anticipate that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Insider Buying and Selling at Hudson Pacific Properties

In other news, CEO Victor J. Coleman bought 50,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the chief executive officer now directly owns 487,451 shares in the company, valued at $1,398,984.37. This represents a 11.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Several large investors have recently added to or reduced their stakes in HPP. Balyasny Asset Management L.P. boosted its holdings in shares of Hudson Pacific Properties by 265.5% in the fourth 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 acquiring an additional 7,303,472 shares during the period. Millennium Management LLC raised its position in Hudson Pacific Properties by 303.5% during the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after purchasing an additional 5,554,444 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hudson Pacific Properties by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after buying an additional 458,783 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Hudson Pacific Properties by 0.5% in the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after acquiring an additional 21,320 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Hudson Pacific Properties by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock worth $10,572,000 after purchasing an additional 61,868 shares during 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.