Hudson Pacific Properties (NYSE:HPP) Stock Rating Upgraded by BMO Capital Markets

Hudson Pacific Properties (NYSE:HPP) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $5.00 target price on the real estate investment trust’s stock, up from their previous target price of $4.00. BMO Capital Markets’ price target points to a potential upside of 68.07% from the stock’s previous close.

A number of other research analysts have also recently weighed in on HPP. Scotiabank dropped their price target on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company upgraded shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price for the company in a report on Monday, March 10th. Jefferies Financial Group began coverage on shares of Hudson Pacific Properties in a report on Monday, March 17th. They issued a “hold” rating and a $2.70 price target on the stock. Mizuho dropped their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group reduced their target price on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and a consensus price target of $3.43.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $2.98 on Friday. The company has a market capitalization of $420.53 million, a PE ratio of -1.16 and a beta of 1.31. Hudson Pacific Properties has a 52-week low of $2.39 and a 52-week high of $6.69. The company has a 50-day simple moving average of $3.02 and a 200-day simple moving average of $3.59. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

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

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its holdings in Hudson Pacific Properties by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock valued at $529,000 after buying an additional 5,448 shares during the period. Intech Investment Management LLC increased its position in Hudson Pacific Properties by 88.1% during the third quarter. Intech Investment Management LLC now owns 90,267 shares of the real estate investment trust’s stock worth $431,000 after purchasing an additional 42,276 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hudson Pacific Properties by 13.8% during 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 purchasing an additional 630,932 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Hudson Pacific Properties by 16.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 6,704 shares during the period. Finally, Bridgewater Associates LP increased its holdings in shares of Hudson Pacific Properties by 56.2% during the 3rd quarter. Bridgewater Associates LP now owns 24,590 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 8,844 shares during the last quarter. Hedge funds and other 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.