Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $3.00 at Scotiabank

Hudson Pacific Properties (NYSE:HPP) had its target price trimmed by Scotiabank from $4.00 to $3.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

HPP has been the subject of a number of other reports. Jefferies Financial Group decreased their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Mizuho decreased their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler decreased their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average target price of $4.54.

Hudson Pacific Properties Stock Up 0.8 %

Shares of NYSE HPP opened at $3.12 on Tuesday. The stock has a market cap of $439.93 million, a PE ratio of -1.49 and a beta of 1.30. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a 52-week low of $2.39 and a 52-week high of $7.20. The business has a 50-day moving average price of $2.98 and a 200 day moving average price of $3.97.

Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Hudson Pacific Properties had a negative return on equity of 9.64% and a negative net margin of 33.39%. Equities research analysts forecast that Hudson Pacific Properties will post 0.51 earnings per share for the current year.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman bought 50,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following the purchase, the chief executive officer now 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently modified their holdings of the business. Balyasny Asset Management L.P. raised its stake in shares of Hudson Pacific Properties by 265.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after buying an additional 7,303,472 shares in the last quarter. Millennium Management LLC increased its stake in Hudson Pacific Properties by 303.5% in the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after purchasing an additional 5,554,444 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Hudson Pacific Properties by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock valued at $17,175,000 after purchasing an additional 458,783 shares in the last quarter. Legal & General Group Plc increased its stake in Hudson Pacific Properties by 0.5% in the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock valued at $12,147,000 after purchasing an additional 21,320 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Hudson Pacific Properties by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock valued at $10,572,000 after purchasing an additional 61,868 shares in the last quarter. 97.58% of the stock is owned by hedge funds and other 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.