Hudson Pacific Properties (NYSE:HPP) Given “Overweight” Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Hudson Pacific Properties (NYSE:HPP) in a research report released on Thursday, Benzinga reports. They currently have a $7.00 price objective on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. Wolfe Research raised shares of Hudson Pacific Properties from a peer perform rating to an outperform rating and set a $8.40 price target on the stock in a report on Monday, March 18th. Morgan Stanley reduced their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an equal weight rating for the company in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group lowered their price objective on Hudson Pacific Properties from $9.00 to $7.00 and set a neutral rating on the stock in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $8.49.

Hudson Pacific Properties Price Performance

HPP opened at $4.81 on Thursday. The firm has a 50-day moving average price of $5.16 and a 200-day moving average price of $6.71. Hudson Pacific Properties has a twelve month low of $4.05 and a twelve month high of $9.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $678.23 million, a price-to-earnings ratio of -3.00, a PEG ratio of 0.58 and a beta of 1.30.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.53). The business had revenue of $214.02 million during the quarter, compared to analysts’ expectations of $220.61 million. Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. Equities analysts expect that Hudson Pacific Properties will post 0.9 EPS for the current year.

Hudson Pacific Properties Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.16%. The ex-dividend date was Monday, June 17th. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently -12.50%.

Insider Activity

In related news, CEO Victor J. Coleman sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the completion of the sale, the chief executive officer now owns 387,451 shares in the company, valued at approximately $2,006,996.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have bought 13,420 shares of company stock worth $59,912. 2.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. grew its holdings in shares of Hudson Pacific Properties by 103,925.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 4,157 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Hudson Pacific Properties by 42.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 2,286 shares during the last quarter. Versor Investments LP purchased a new position in shares of Hudson Pacific Properties in the fourth quarter worth about $99,000. First Trust Direct Indexing L.P. bought a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $102,000. Finally, Spirit of America Management Corp NY bought a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $102,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

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.