Piper Sandler Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price objective lowered by Piper Sandler from $5.00 to $4.50 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 22.28% from the stock’s current price.

A number of other equities analysts have also recently commented on HPP. The Goldman Sachs Group lowered their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Wells Fargo & Company dropped their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price target for the stock from $5.50 to $5.00 in a research note on Tuesday, November 12th. Finally, Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.17.

Hudson Pacific Properties Stock Down 7.3 %

NYSE:HPP opened at $3.68 on Friday. Hudson Pacific Properties has a 52 week low of $3.66 and a 52 week high of $9.85. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock’s fifty day moving average is $4.60 and its two-hundred day moving average is $4.94. The stock has a market capitalization of $519.73 million, a price-to-earnings ratio of -1.76 and a beta of 1.31.

Insider Buying and Selling

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction that occurred 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 directly owns 3,713 shares in the company, valued at $19,307.60. This represents a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now directly 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. Insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in shares of Hudson Pacific Properties by 95.7% during the first quarter. BNP Paribas Financial Markets now owns 158,549 shares of the real estate investment trust’s stock worth $1,023,000 after purchasing an additional 77,553 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Hudson Pacific Properties in the 1st quarter valued at about $510,000. Texas Permanent School Fund Corp grew its stake in Hudson Pacific Properties by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust’s stock worth $715,000 after buying an additional 2,164 shares during the last quarter. SG Americas Securities LLC increased its position in Hudson Pacific Properties by 385.4% during the first quarter. SG Americas Securities LLC now owns 87,030 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 69,100 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in Hudson Pacific Properties by 225.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock valued at $1,123,000 after buying an additional 116,945 shares during the last quarter. 97.58% of the stock is owned by hedge funds and other institutional investors.

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.