Hudson Pacific Properties, Inc. (NYSE:HPP) Receives Average Rating of “Hold” from Analysts

Hudson Pacific Properties, Inc. (NYSE:HPP) has been assigned an average recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.95.

A number of analysts have issued reports on the company. Piper Sandler downgraded Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Bank of America dropped their price target on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group cut their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, Morgan Stanley cut shares of Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $6.00 to $4.25 in a report on Wednesday, July 10th.

Insider Buying and Selling

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The disclosure for this sale can be found here. 2.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently bought and sold shares of HPP. State Board of Administration of Florida Retirement System raised its holdings in Hudson Pacific Properties by 225.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 116,945 shares in the last quarter. GRS Advisors LLC purchased a new position in shares of Hudson Pacific Properties during the 4th quarter worth approximately $18,489,000. GSA Capital Partners LLP raised its stake in shares of Hudson Pacific Properties by 167.2% during the 1st quarter. GSA Capital Partners LLP now owns 302,179 shares of the real estate investment trust’s stock worth $1,949,000 after buying an additional 189,104 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hudson Pacific Properties by 405.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock valued at $1,995,000 after buying an additional 248,117 shares during the period. Finally, Scion Asset Management LLC purchased a new stake in shares of Hudson Pacific Properties in the second quarter valued at approximately $5,505,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Down 1.7 %

HPP stock opened at $4.69 on Monday. Hudson Pacific Properties has a fifty-two week low of $4.26 and a fifty-two week high of $9.85. The company’s 50 day moving average price is $5.14 and its 200 day moving average price is $5.37. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $661.97 million, a price-to-earnings ratio of -2.93, a PEG ratio of 0.88 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data 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 firm had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.08 million. Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. Hudson Pacific Properties’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 business posted $0.24 earnings per share. On average, equities research analysts anticipate that Hudson Pacific Properties will post 0.62 EPS for the current fiscal year.

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.