Hudson Pacific Properties, Inc. (NYSE:HPP) Receives $6.94 Average PT from Brokerages

Hudson Pacific Properties, Inc. (NYSE:HPP) has been given a consensus rating of “Reduce” by the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.30.

A number of equities analysts have commented on the company. Scotiabank lowered their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. Jefferies Financial Group downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price target for the company from $5.50 to $5.00 in a research note on Tuesday. BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $6.00 in a report on Thursday, August 8th.

Hudson Pacific Properties Stock Performance

Shares of NYSE:HPP opened at $3.97 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties has a 12-month low of $3.93 and a 12-month high of $9.85. The company’s 50 day moving average price is $4.62 and its two-hundred day moving average price is $4.96. The firm has a market cap of $560.68 million, a PE ratio of -1.90 and a beta of 1.31.

Insider Transactions at Hudson Pacific Properties

In related news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now owns 3,713 shares in the company, valued at $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is owned by company insiders.

Institutional Trading of Hudson Pacific Properties

Several large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position in shares of Hudson Pacific Properties by 225.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock worth $1,123,000 after acquiring an additional 116,945 shares in the last quarter. Millennium Management LLC increased its holdings in Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in Hudson Pacific Properties by 42.3% in the third quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock valued at $2,755,000 after acquiring an additional 171,424 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Hudson Pacific Properties in the third quarter valued at about $1,332,000. Finally, Scion Asset Management LLC bought a new position in shares of Hudson Pacific Properties during the 2nd quarter valued at approximately $5,505,000. 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.