Hudson Pacific Properties (NYSE:HPP) Stock Rating Lowered 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 report report published on Tuesday, Marketbeat reports. Jefferies Financial Group currently has $5.00 price target on the real estate investment trust’s stock, down from their previous price target of $5.50.

Several other equities analysts also recently commented on the company. BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target 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. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Wolfe Research downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, Bank of America cut their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Stock Performance

HPP opened at $3.68 on Tuesday. The firm has a market cap of $519.73 million, a P/E ratio of -1.76 and a beta of 1.31. Hudson Pacific Properties has a 1-year low of $3.66 and a 1-year high of $9.85. The company has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $4.95. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.47.

Insiders Place Their Bets

In other Hudson Pacific Properties news, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the firm’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 transaction of $49,399.68. Following the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after acquiring an additional 630,932 shares during the period. Millennium Management LLC lifted its position in shares of Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares during the period. B&I Capital AG increased its holdings in Hudson Pacific Properties by 23.4% during the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock valued at $8,174,000 after buying an additional 322,033 shares during the period. Bank of New York Mellon Corp raised its stake in Hudson Pacific Properties by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock worth $6,209,000 after buying an additional 43,728 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in Hudson Pacific Properties by 50.6% during the first quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock worth $8,000,000 after buying an additional 416,591 shares during the period. Institutional investors own 97.58% of the company’s stock.

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.