Hudson Pacific Properties, Inc. (NYSE:HPP) Given Consensus Recommendation of “Hold” by Analysts

Hudson Pacific Properties, Inc. (NYSE:HPP) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.95.

A number of brokerages recently issued reports on HPP. Wells Fargo & Company decreased their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Scotiabank decreased their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. Finally, Bank of America decreased their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd.

Hudson Pacific Properties Stock Down 3.4 %

Shares of Hudson Pacific Properties stock opened at $5.11 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The business’s 50 day simple moving average is $5.20 and its 200-day simple moving average is $5.42. The stock has a market capitalization of $721.25 million, a price-to-earnings ratio of -3.19, a PEG ratio of 0.84 and a beta of 1.31. Hudson Pacific Properties has a twelve month low of $4.26 and a twelve month high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). The company had revenue of $218.00 million for the quarter, compared to analyst estimates of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities research analysts forecast that Hudson Pacific Properties will post 0.62 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

Several hedge funds and other institutional investors have recently modified their holdings of HPP. GRS Advisors LLC acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter worth $18,489,000. Millennium Management LLC boosted its position in Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC acquired a new stake in Hudson Pacific Properties during the second quarter valued at $5,505,000. Allianz Asset Management GmbH boosted its position in Hudson Pacific Properties by 114.3% during the fourth quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock valued at $19,621,000 after purchasing an additional 1,124,100 shares during the last quarter. Finally, Davis Selected Advisers boosted its position in Hudson Pacific Properties by 78.0% during the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock valued at $5,890,000 after purchasing an additional 536,540 shares during the last quarter. Institutional investors and hedge funds 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.