Hudson Pacific Properties (NYSE:HPP) Given New $3.00 Price Target at Scotiabank

Hudson Pacific Properties (NYSE:HPP) had its price target cut by Scotiabank from $4.00 to $3.00 in a report released on Tuesday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on HPP. Piper Sandler dropped their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Jefferies Financial Group dropped their price target on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Mizuho dropped their price target on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.80.

Hudson Pacific Properties Price Performance

NYSE:HPP opened at $2.93 on Tuesday. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $7.20. The stock has a 50 day moving average of $2.99 and a two-hundred day moving average of $4.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market cap of $413.10 million, a P/E ratio of -1.40 and a beta of 1.30.

Insider Activity at Hudson Pacific Properties

In other news, CEO Victor J. Coleman purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted 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 purchasing an additional 5,013 shares in the last quarter. GeoWealth Management LLC acquired a new position in Hudson Pacific Properties during the fourth quarter worth $27,000. Venturi Wealth Management LLC acquired a new position in Hudson Pacific Properties during the third quarter worth $44,000. Xponance Inc. acquired a new position in Hudson Pacific Properties during the fourth quarter worth $30,000. Finally, Stifel Financial Corp acquired a new position in Hudson Pacific Properties during the third quarter worth $48,000. 97.58% of the stock is currently 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.