Hudson Pacific Properties (NYSE:HPP) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Hudson Pacific Properties (NYSE:HPP) from an equal weight rating to an overweight rating in a research report released on Monday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has $4.00 target price on the real estate investment trust’s stock.

HPP has been the subject of a number of other research reports. Scotiabank decreased their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Mizuho decreased their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Piper Sandler decreased their price objective on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group reduced their target price on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group reduced their target price on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.26.

Hudson Pacific Properties Stock Up 0.6 %

Hudson Pacific Properties stock opened at $2.73 on Monday. Hudson Pacific Properties has a 1-year low of $2.39 and a 1-year high of $6.82. The firm has a market capitalization of $385.19 million, a price-to-earnings ratio of -1.06 and a beta of 1.31. The firm’s fifty day moving average price is $3.00 and its two-hundred day moving average price is $3.78. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The company had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. On average, equities research analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Insider Transactions at Hudson Pacific Properties

In other news, CEO Victor J. Coleman purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the acquisition, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. This represents a 11.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. bought a new stake in Hudson Pacific Properties during the 4th quarter valued at $2,199,000. Alpine Global Management LLC bought a new position in Hudson Pacific Properties in the 4th quarter worth $185,000. Two Sigma Advisers LP raised its holdings in Hudson Pacific Properties by 98.1% in the 4th quarter. Two Sigma Advisers LP now owns 631,800 shares of the real estate investment trust’s stock worth $1,914,000 after purchasing an additional 312,900 shares in the last quarter. Two Sigma Investments LP raised its holdings in Hudson Pacific Properties by 103.2% in the 4th quarter. Two Sigma Investments LP now owns 1,192,633 shares of the real estate investment trust’s stock worth $3,614,000 after purchasing an additional 605,759 shares in the last quarter. Finally, Saba Capital Management L.P. raised its holdings in Hudson Pacific Properties by 105.2% in the 4th quarter. Saba Capital Management L.P. now owns 1,790,762 shares of the real estate investment trust’s stock worth $5,426,000 after purchasing an additional 918,045 shares in the last quarter. 97.58% of the stock is currently owned by 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.