Hudson Pacific Properties (NYSE:HPP) Downgraded to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Hudson Pacific Properties (NYSE:HPP) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat reports. Jefferies Financial Group currently has $5.00 target price on the real estate investment trust’s stock, down from their prior target price of $5.50.

A number of other analysts also recently issued reports on HPP. The Goldman Sachs Group decreased their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Scotiabank reduced their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Bank of America reduced their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Finally, Piper Sandler cut Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $6.00 in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.30.

Hudson Pacific Properties Stock Down 9.0 %

Shares of NYSE HPP opened at $4.04 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. The business has a 50-day moving average of $4.66 and a two-hundred day moving average of $4.97. Hudson Pacific Properties has a 1 year low of $4.04 and a 1 year high of $9.85.

Insider Activity at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the company’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 sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.92% of the stock is owned by corporate insiders.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its holdings in Hudson Pacific Properties by 16.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 6,704 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Hudson Pacific Properties by 13.8% in the 3rd 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 in the last quarter. Intech Investment Management LLC increased its holdings in Hudson Pacific Properties by 88.1% in the 3rd quarter. Intech Investment Management LLC now owns 90,267 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 42,276 shares in the last quarter. Anthracite Investment Company Inc. acquired a new stake in Hudson Pacific Properties in the 3rd quarter valued at $1,320,000. Finally, Thrivent Financial for Lutherans increased its holdings in Hudson Pacific Properties by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock valued at $529,000 after purchasing an additional 5,448 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

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.