Hudson Pacific Properties, Inc. (NYSE:HPP) Given Average Rating of “Reduce” by Analysts

Hudson Pacific Properties, Inc. (NYSE:HPP) has been assigned a consensus rating of “Reduce” from the eleven analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.17.

HPP has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and decreased their target price for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Scotiabank lowered their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction that occurred 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 owns 3,713 shares in the company, valued at $19,307.60. This trade represents a 71.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after buying an additional 1,319,869 shares in the last quarter. Scion Asset Management LLC bought a new stake in Hudson Pacific Properties during the second quarter worth about $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hudson Pacific Properties by 450.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock worth $5,096,000 after purchasing an additional 872,538 shares during the period. GSA Capital Partners LLP increased its stake in shares of Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after purchasing an additional 720,549 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Hudson Pacific Properties by 13.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after purchasing an additional 630,932 shares during the last quarter. 97.58% of the stock is owned by hedge funds and other institutional investors.

Hudson Pacific Properties Stock Down 7.3 %

Shares of NYSE HPP opened at $3.68 on Tuesday. Hudson Pacific Properties has a 52 week low of $3.66 and a 52 week high of $9.85. The company has a market cap of $519.73 million, a P/E ratio of -1.76 and a beta of 1.31. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The business has a 50-day simple moving average of $4.60 and a two-hundred day simple moving average of $4.94.

About Hudson Pacific Properties

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.