Hudson Pacific Properties, Inc. (NYSE:HPP) Receives $8.49 Average Price Target from Brokerages

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.32.

HPP has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $7.00 price objective on shares of Hudson Pacific Properties in a research report on Thursday, June 27th. Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price objective on the stock in a research report on Monday, March 18th. The Goldman Sachs Group cut their price objective on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Morgan Stanley cut shares of Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $6.00 to $4.25 in a research report on Wednesday.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman sold 100,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the completion of the transaction, the chief executive officer now directly owns 387,451 shares of the company’s stock, valued at approximately $2,006,996.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 13,420 shares of company stock worth $59,912. Company insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in Hudson Pacific Properties by 42.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 2,286 shares during the last quarter. Versor Investments LP purchased a new stake in Hudson Pacific Properties during the fourth quarter worth approximately $99,000. First Trust Direct Indexing L.P. purchased a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $102,000. Spirit of America Management Corp NY purchased a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $102,000. Finally, GAMMA Investing LLC purchased a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $102,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $5.43 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85. Hudson Pacific Properties has a 1-year low of $4.26 and a 1-year high of $9.85. The company has a market capitalization of $765.71 million, a P/E ratio of -3.39, a P/E/G ratio of 0.61 and a beta of 1.32. The firm’s 50 day simple moving average is $5.00 and its two-hundred day simple moving average is $6.44.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.53). The company had revenue of $214.02 million during the quarter, compared to analysts’ expectations of $220.61 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. Research analysts expect that Hudson Pacific Properties will post 0.86 EPS for the current fiscal year.

Hudson Pacific Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Monday, June 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 3.69%. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently -12.50%.

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.