Hudson Pacific Properties (NYSE:HPP) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Hudson Pacific Properties (NYSE:HPP) from an equal weight rating to an overweight rating in a report issued on Monday, MarketBeat reports. The firm currently has $4.00 target price on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on HPP. Scotiabank dropped their price target on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Mizuho dropped their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group cut their target price on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Piper Sandler decreased their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Finally, Jefferies Financial Group cut their price objective 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.26.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $2.87 on Monday. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $6.96. The stock has a market capitalization of $404.98 million, a price-to-earnings ratio of -1.11 and a beta of 1.31. The company has a 50-day simple moving average of $3.01 and a 200-day simple moving average of $3.82. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. The business had revenue of $209.67 million during the quarter, compared to analysts’ expectations of $207.95 million. On average, analysts predict that Hudson Pacific Properties will post 0.45 EPS for the current year.

Insider Buying and Selling

In related news, CEO Victor J. Coleman acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost 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 trade represents a 11.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in shares of Hudson Pacific Properties by 9.9% in the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 2,399 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Hudson Pacific Properties by 10.0% during the 3rd quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 3,802 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Hudson Pacific Properties by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock worth $529,000 after buying an additional 5,448 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Hudson Pacific Properties by 16.8% during the third quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 6,704 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Hudson Pacific Properties by 71.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,674 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 7,807 shares during the last quarter. Institutional investors and hedge funds 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.