Piper Sandler Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $4.50

Hudson Pacific Properties (NYSE:HPP) had its target price trimmed by Piper Sandler from $5.00 to $4.50 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

HPP has been the topic of a number of other reports. The Goldman Sachs Group reduced their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Wolfe Research downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Scotiabank dropped their price target on 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. Bank of America reduced their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Finally, BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Trading Down 7.3 %

NYSE HPP opened at $3.68 on Friday. The firm has a market capitalization of $519.73 million, a PE ratio of -1.76 and a beta of 1.31. The stock’s 50 day moving average is $4.60 and its 200 day moving average is $4.94. Hudson Pacific Properties has a twelve month low of $3.66 and a twelve month high of $9.85. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Insiders Place Their Bets

In related news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan M. Glaser sold 9,287 shares of the company’s 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 sale, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted 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 worth $29,000 after buying an additional 5,013 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Hudson Pacific Properties during the 3rd quarter worth $44,000. Stifel Financial Corp bought a new stake in shares of Hudson Pacific Properties during the 3rd quarter valued at $48,000. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth $53,000. Finally, MQS Management LLC bought a new position in Hudson Pacific Properties in the 3rd quarter worth $58,000. 97.58% of the stock is currently owned by institutional investors.

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.