Hudson Pacific Properties (NYSE:HPP) Sets New 1-Year Low Following Analyst Downgrade

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) hit a new 52-week low on Monday after Piper Sandler lowered their price target on the stock from $5.00 to $4.50. Piper Sandler currently has a neutral rating on the stock. Hudson Pacific Properties traded as low as $3.55 and last traded at $3.59, with a volume of 61964 shares trading hands. The stock had previously closed at $3.68.

A number of other research analysts have also recently commented on the stock. BMO Capital Markets cut shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Scotiabank lowered their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Wolfe Research downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Bank of America decreased their price target on 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.17.

Insider Activity

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 stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares of the company’s stock, valued at $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HPP. Blue Trust Inc. increased its stake in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 5,013 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Hudson Pacific Properties during the 3rd quarter worth $44,000. Stifel Financial Corp acquired a new position in Hudson Pacific Properties during the third quarter worth about $48,000. Key Client Fiduciary Advisors LLC acquired a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth approximately $53,000. Finally, MQS Management LLC purchased a new position in shares of Hudson Pacific Properties in the third quarter valued at $58,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

The company has a 50-day moving average of $4.60 and a 200-day moving average of $4.94. The stock has a market capitalization of $505.60 million, a price-to-earnings ratio of -1.76 and a beta of 1.31. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.47 and a current ratio of 1.26.

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.