Jefferies Financial Group Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its price target reduced by Jefferies Financial Group from $3.70 to $3.00 in a research report report published on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the real estate investment trust’s stock.

HPP has been the subject of several other reports. Piper Sandler lowered their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company lowered their price target on 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. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.29.

Hudson Pacific Properties Stock Performance

Shares of NYSE:HPP opened at $2.90 on Thursday. 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 has a 12-month low of $2.39 and a 12-month high of $9.84. The company’s 50 day moving average price is $3.57 and its two-hundred day moving average price is $4.50. The firm has a market cap of $409.57 million, a PE ratio of -1.39 and a beta of 1.27.

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Hudson Pacific Properties by 9.9% in the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 2,399 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Hudson Pacific Properties by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after acquiring an additional 2,408 shares during the last quarter. abrdn plc lifted its stake in Hudson Pacific Properties by 10.5% in the 3rd quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 2,710 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Hudson Pacific Properties by 10.0% during the 3rd quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 3,802 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in shares of Hudson Pacific Properties by 17.4% during the third quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 4,070 shares in 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.