Hudson Pacific Properties (NYSE:HPP) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Hudson Pacific Properties (NYSE:HPP) from an equal weight rating to an overweight rating in a report issued on Monday, MarketBeat.com reports. Wells Fargo & Company currently has $4.00 price target on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. Scotiabank dropped their price target on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Mizuho dropped their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group dropped their price target on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. The Goldman Sachs Group dropped their price objective on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Piper Sandler dropped their price objective on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.26.

Hudson Pacific Properties Stock Up 0.6 %

NYSE:HPP opened at $2.73 on Monday. The firm has a market cap of $385.19 million, a P/E ratio of -1.06 and a beta of 1.31. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. 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 50-day simple moving average of $3.00 and a two-hundred day simple moving average of $3.78.

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

Insider Activity

In related news, CEO Victor J. Coleman acquired 50,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in Hudson Pacific Properties by 9.9% in the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 2,399 shares during the last quarter. Amalgamated Bank increased its position in Hudson Pacific Properties by 10.0% in the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 3,802 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Hudson Pacific Properties by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock worth $529,000 after purchasing an additional 5,448 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Hudson Pacific Properties by 16.8% in the third quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 6,704 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Hudson Pacific Properties by 71.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,674 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 7,807 shares during the last quarter. Institutional investors own 97.58% of the company’s stock.

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.