Hudson Pacific Properties (NYSE:HPP) Price Target Cut to $3.50 by Analysts at Piper Sandler

Hudson Pacific Properties (NYSE:HPP) had its price objective dropped by Piper Sandler from $4.50 to $3.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective suggests a potential upside of 18.85% from the company’s current price.

HPP has been the topic of several other reports. Mizuho lowered their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Scotiabank decreased their price objective on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Finally, Jefferies Financial Group decreased their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, Hudson Pacific Properties has an average rating of “Hold” and a consensus target price of $4.44.

Hudson Pacific Properties Stock Down 1.8 %

HPP stock traded down $0.06 during midday trading on Monday, hitting $2.95. 324,253 shares of the company’s stock were exchanged, compared to its average volume of 2,728,397. The stock has a market capitalization of $415.92 million, a price-to-earnings ratio of -1.15 and a beta of 1.30. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $7.20. The firm has a 50 day moving average price of $2.97 and a 200-day moving average price of $3.94. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The business had revenue of $209.67 million during the quarter, compared to the consensus estimate of $207.95 million. On average, analysts anticipate that Hudson Pacific Properties will post 0.45 EPS for the current year.

Insider Activity at Hudson Pacific Properties

In related news, CEO Victor J. Coleman acquired 50,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the purchase, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Hudson Pacific Properties by 549.1% during the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 5,013 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Hudson Pacific Properties by 6.9% during the third quarter. Louisiana State Employees Retirement System now owns 68,200 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 4,400 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Hudson Pacific Properties by 3.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 145,331 shares of the real estate investment trust’s stock valued at $692,000 after purchasing an additional 5,398 shares during the last quarter. abrdn plc lifted its position in Hudson Pacific Properties by 10.5% during the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 2,710 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Hudson Pacific Properties in the third quarter worth about $223,000. Institutional investors own 97.58% of the company’s stock.

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.