Mizuho Lowers Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its price objective lowered by investment analysts at Mizuho from $5.00 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective would indicate a potential upside of 10.70% from the company’s previous close.

Several other brokerages have also weighed in on HPP. Piper Sandler lowered their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company dropped their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group decreased their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average price target of $5.08.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock opened at $2.71 on Tuesday. The company has a market cap of $382.74 million, a P/E ratio of -1.30 and a beta of 1.30. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $9.44. The business has a fifty day moving average of $3.47 and a two-hundred day moving average of $4.45. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman acquired 50,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $2.87 per share, with a total value of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

A number of hedge funds have recently added to or reduced their stakes in the business. Anthracite Investment Company Inc. purchased a new position in shares of Hudson Pacific Properties during the 3rd quarter worth about $1,320,000. Wolverine Asset Management LLC boosted its holdings in shares of Hudson Pacific Properties by 42.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock valued at $2,755,000 after purchasing an additional 171,424 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Hudson Pacific Properties during the 3rd quarter valued at $1,332,000. Millennium Management LLC grew its stake 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 during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Hudson Pacific Properties during the 3rd quarter worth $48,000. 97.58% of the stock is 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.