Hudson Pacific Properties (NYSE:HPP) Receives Overweight Rating from Piper Sandler

Hudson Pacific Properties (NYSE:HPP)‘s stock had its “overweight” rating reissued by Piper Sandler in a report issued on Thursday, Benzinga reports. They currently have a $7.00 price objective on the real estate investment trust’s stock. Piper Sandler’s price target would suggest a potential upside of 47.99% from the company’s current price.

HPP has been the subject of several other reports. Wolfe Research upgraded Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price objective for the company in a research report on Monday, March 18th. The Goldman Sachs Group lowered their price target on Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Morgan Stanley lowered their price target on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.49.

Hudson Pacific Properties Stock Performance

Shares of HPP stock remained flat at $4.73 during trading hours on Thursday. The stock had a trading volume of 589,040 shares, compared to its average volume of 2,425,950. The firm has a market cap of $667.64 million, a P/E ratio of -2.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.30. Hudson Pacific Properties has a 1-year low of $4.05 and a 1-year high of $9.85. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a 50-day simple moving average of $5.18 and a two-hundred day simple moving average of $6.72.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.53). The business had revenue of $214.02 million during the quarter, compared to analysts’ expectations of $220.61 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. On average, analysts forecast that Hudson Pacific Properties will post 0.9 EPS for the current year.

Insider Activity

In other news, CEO Victor J. Coleman sold 100,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the sale, the chief executive officer now directly owns 387,451 shares in the company, valued at $2,006,996.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 13,420 shares of company stock worth $59,912. Corporate insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Hudson Pacific Properties by 6,191.3% during the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock worth $35,869,000 after buying an additional 5,308,032 shares during the last quarter. Deutsche Bank AG boosted its holdings in Hudson Pacific Properties by 2,367.6% in the 3rd quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock valued at $28,469,000 after purchasing an additional 4,107,498 shares in the last quarter. Waterfront Capital Partners LLC purchased a new stake in Hudson Pacific Properties in the 4th quarter valued at approximately $22,848,000. GRS Advisors LLC purchased a new stake in Hudson Pacific Properties in the 4th quarter valued at approximately $18,489,000. Finally, American Century Companies Inc. purchased a new stake in Hudson Pacific Properties in the 3rd quarter valued at approximately $9,313,000. Institutional investors and hedge funds 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.