The Goldman Sachs Group Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price objective cut by equities research analysts at The Goldman Sachs Group from $3.90 to $3.40 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 10.39% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Piper Sandler dropped their target price on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday. Scotiabank dropped their target price on shares of 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. Jefferies Financial Group dropped their target price on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Mizuho dropped 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 report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.31.

Hudson Pacific Properties Trading Up 0.7 %

HPP opened at $3.08 on Tuesday. The stock has a market capitalization of $434.99 million, a PE ratio of -1.20 and a beta of 1.30. The firm’s fifty day moving average price is $2.98 and its 200 day moving average price is $3.91. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $7.20.

Hudson Pacific Properties (NYSE:HPP) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $209.67 million for the quarter, compared to analysts’ expectations of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. As a group, research analysts expect that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

Insider Transactions at Hudson Pacific Properties

In related news, CEO Victor J. Coleman bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the transaction, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. grew its position in Hudson Pacific Properties by 265.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after buying an additional 7,303,472 shares in the last quarter. Millennium Management LLC grew its position in Hudson Pacific Properties by 303.5% in the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after buying an additional 5,554,444 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Hudson Pacific Properties by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock valued at $17,175,000 after buying an additional 458,783 shares in the last quarter. Legal & General Group Plc grew its position in Hudson Pacific Properties by 0.5% in the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock valued at $12,147,000 after buying an additional 21,320 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Hudson Pacific Properties by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock valued at $10,572,000 after buying an additional 61,868 shares in the last quarter. 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.