Hudson Pacific Properties (NYSE:HPP) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Hudson Pacific Properties (NYSE:HPP) in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $2.70 price target on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on HPP. Scotiabank cut their price target on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group cut their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Piper Sandler cut their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, February 24th. Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective on the stock in a research note on Monday, March 10th. Finally, Mizuho lowered their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Hudson Pacific Properties has a consensus rating of “Hold” and an average target price of $4.23.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $3.03 on Monday. Hudson Pacific Properties has a fifty-two week low of $2.39 and a fifty-two week high of $6.82. The business has a 50-day moving average of $3.00 and a two-hundred day moving average of $3.71. The stock has a market capitalization of $427.59 million, a P/E ratio of -1.18 and a beta of 1.31. 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 (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share 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, equities research analysts predict that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Victor J. Coleman purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $2.87 per share, with a total value of $143,500.00. Following the purchase, the chief executive officer now directly owns 487,451 shares in the company, valued at $1,398,984.37. This trade represents a 11.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

Several hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. raised its stake in Hudson Pacific Properties by 265.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after buying an additional 7,303,472 shares during the period. Millennium Management LLC raised its stake in Hudson Pacific Properties by 303.5% during the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after buying an additional 5,554,444 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Hudson Pacific Properties by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after buying an additional 458,783 shares during the period. Legal & General Group Plc raised its stake in Hudson Pacific Properties by 0.5% during the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after buying an additional 21,320 shares during the period. Finally, Geode Capital Management LLC raised its stake in Hudson Pacific Properties by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock worth $10,572,000 after buying an additional 61,868 shares during the period. Institutional investors and hedge funds own 97.58% of the company’s stock.

About Hudson Pacific Properties

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.