Hudson Pacific Properties (NYSE:HPP – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.
Other equities analysts also recently issued reports about the stock. BMO Capital Markets decreased their price target on shares of Hudson Pacific Properties from $8.00 to $7.00 and set a “market perform” rating on the stock in a research note on Monday, April 10th. The Goldman Sachs Group assumed coverage on shares of Hudson Pacific Properties in a report on Tuesday, March 21st. They set a “sell” rating and a $5.50 target price on the stock. Morgan Stanley reduced their price target on Hudson Pacific Properties from $10.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, March 31st. Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 16th. Finally, Piper Sandler cut their target price on Hudson Pacific Properties from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, March 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $10.63.
Hudson Pacific Properties Price Performance
Hudson Pacific Properties stock opened at $4.78 on Wednesday. The company has a market capitalization of $673.45 million, a price-to-earnings ratio of -12.26 and a beta of 1.09. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 1.40. Hudson Pacific Properties has a 12 month low of $4.41 and a 12 month high of $21.59. The stock’s 50 day moving average is $6.45 and its 200-day moving average is $9.05.
Hudson Pacific Properties (NYSE:HPP – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.59). The firm had revenue of $269.93 million during the quarter, compared to the consensus estimate of $267.83 million. Hudson Pacific Properties had a negative net margin of 4.89% and a negative return on equity of 1.47%. Equities research analysts expect that Hudson Pacific Properties will post 1.75 EPS for the current year.
Insider Activity
In related news, CIO Drew Gordon acquired 25,000 shares of the stock in a transaction that occurred on Monday, March 27th. The stock was acquired at an average cost of $5.96 per share, for a total transaction of $149,000.00. Following the transaction, the executive now directly owns 116,958 shares in the company, valued at $697,069.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CIO Drew Gordon acquired 25,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Monday, March 27th. The shares were acquired at an average price of $5.96 per share, for a total transaction of $149,000.00. Following the transaction, the executive now directly owns 116,958 shares of the company’s stock, valued at approximately $697,069.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur X. Suazo bought 10,000 shares of the stock in a transaction on Tuesday, March 28th. The stock was purchased at an average cost of $5.86 per share, with a total value of $58,600.00. Following the acquisition, the executive vice president now owns 87,102 shares in the company, valued at $510,417.72. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 38,975 shares of company stock worth $232,523. Corporate insiders own 2.95% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Hudson Pacific Properties by 31.9% in the 3rd quarter. BlackRock Inc. now owns 22,812,665 shares of the real estate investment trust’s stock valued at $249,799,000 after acquiring an additional 5,516,360 shares during the period. Vanguard Group Inc. increased its holdings in Hudson Pacific Properties by 0.7% in the first quarter. Vanguard Group Inc. now owns 22,183,249 shares of the real estate investment trust’s stock valued at $615,584,000 after purchasing an additional 160,204 shares during the period. Norges Bank bought a new position in Hudson Pacific Properties during the 4th quarter worth $101,242,000. State Street Corp lifted its holdings in Hudson Pacific Properties by 12.0% during the 1st quarter. State Street Corp now owns 8,287,870 shares of the real estate investment trust’s stock worth $229,988,000 after buying an additional 885,181 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Hudson Pacific Properties by 12.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,298,007 shares of the real estate investment trust’s stock valued at $63,782,000 after buying an additional 469,341 shares during the last quarter. Institutional investors own 95.57% of the company’s stock.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a real estate company, which acquires, repositions, develops, and operates sustainable office and state of-the-art studio properties in high-barrier-to-entry submarkets in California, the Pacific Northwest, Western Canada, and Greater London, United Kingdom. It operates through the Office Properties and Studio Properties segments.