Hudson Pacific Properties (NYSE:HPP) Receives Overweight Rating from Piper Sandler

Hudson Pacific Properties (NYSE:HPP)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $7.00 price target on the real estate investment trust’s stock. Piper Sandler’s price objective would suggest a potential upside of 47.99% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. Morgan Stanley cut their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. The Goldman Sachs Group cut their target price on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Finally, Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price for the company in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties presently has an average rating of “Hold” and a consensus target price of $8.49.

Hudson Pacific Properties Price Performance

HPP remained flat at $4.73 during trading hours on Thursday. 589,040 shares of the company traded hands, compared to its average volume of 2,425,950. The company has a market capitalization of $667.64 million, a PE ratio of -2.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.30. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a fifty day moving average price of $5.18 and a 200-day moving average price of $6.72. Hudson Pacific Properties has a fifty-two week low of $4.05 and a fifty-two week high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.53). The firm had revenue of $214.02 million during the quarter, compared to analyst estimates of $220.61 million. Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. On average, equities research analysts anticipate that Hudson Pacific Properties will post 0.9 EPS for the current year.

Insider Activity at Hudson Pacific Properties

In related news, CEO Victor J. Coleman sold 100,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total transaction of $518,000.00. Following the sale, the chief executive officer now directly owns 387,451 shares of the company’s stock, valued at approximately $2,006,996.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have purchased 13,420 shares of company stock valued at $59,912. 2.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. boosted its position in Hudson Pacific Properties by 103,925.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 4,157 shares during the period. Tower Research Capital LLC TRC boosted its position in Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 2,286 shares during the period. Versor Investments LP acquired a new stake in Hudson Pacific Properties during the 4th quarter worth approximately $99,000. First Trust Direct Indexing L.P. acquired a new stake in Hudson Pacific Properties during the 4th quarter worth approximately $102,000. Finally, Spirit of America Management Corp NY acquired a new stake in Hudson Pacific Properties during the 4th quarter worth approximately $102,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

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.