Hudson Pacific Properties (NYSE:HPP) Given New $3.00 Price Target at Jefferies Financial Group

Hudson Pacific Properties (NYSE:HPP) had its price target lowered by Jefferies Financial Group from $3.70 to $3.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

A number of other analysts have also recently commented on the company. Piper Sandler lowered their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company lowered their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.29.

Hudson Pacific Properties Stock Down 5.6 %

Shares of Hudson Pacific Properties stock opened at $2.86 on Thursday. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $9.84. The business has a fifty day simple moving average of $3.60 and a 200 day simple moving average of $4.51. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a market cap of $403.92 million, a PE ratio of -1.37 and a beta of 1.27.

Insider Activity

In related news, CEO Victor J. Coleman acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following the transaction, the chief executive officer now owns 487,451 shares of the company’s stock, valued at $1,398,984.37. The trade was a 11.43 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently added to or reduced their stakes in HPP. Bank of New York Mellon Corp boosted its position in shares of Hudson Pacific Properties by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock worth $6,209,000 after buying an additional 43,728 shares during the period. Victory Capital Management Inc. lifted its stake in Hudson Pacific Properties by 37.3% in the 2nd quarter. Victory Capital Management Inc. now owns 110,566 shares of the real estate investment trust’s stock valued at $532,000 after acquiring an additional 30,058 shares in the last quarter. Davis Selected Advisers boosted its position in Hudson Pacific Properties by 78.0% during the 2nd quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock worth $5,890,000 after acquiring an additional 536,540 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Hudson Pacific Properties by 28.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 142,802 shares of the real estate investment trust’s stock worth $687,000 after acquiring an additional 31,939 shares in the last quarter. Finally, B&I Capital AG raised its holdings in shares of Hudson Pacific Properties by 23.4% in the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock valued at $8,174,000 after purchasing an additional 322,033 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.