Hudson Pacific Properties, Inc. (NYSE:HPP) Receives Consensus Recommendation of “Reduce” from Analysts

Hudson Pacific Properties, Inc. (NYSE:HPP) has been assigned an average rating of “Reduce” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.17.

Several analysts have recently weighed in on HPP shares. The Goldman Sachs Group reduced their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $8.00 to $6.00 in a research note on Thursday, August 8th. Wolfe Research cut shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company cut their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th. Finally, Jefferies Financial Group cut Hudson Pacific Properties from a “buy” rating to a “hold” rating and decreased their price target for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th.

Hudson Pacific Properties Trading Down 7.3 %

Shares of Hudson Pacific Properties stock opened at $3.68 on Tuesday. The firm has a market capitalization of $519.73 million, a PE ratio of -1.76 and a beta of 1.31. The company has a current ratio of 1.26, a quick ratio of 1.47 and a debt-to-equity ratio of 1.47. The firm’s 50 day moving average is $4.60 and its 200 day moving average is $4.94. Hudson Pacific Properties has a 1 year low of $3.66 and a 1 year high of $9.85.

Insiders Place Their Bets

In related news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction 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. This trade represents a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 3,713 shares of the company’s stock, valued at $19,307.60. This trade represents a 71.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in HPP. Charles Schwab Investment Management Inc. boosted its stake in Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after acquiring an additional 630,932 shares during the last quarter. Geode Capital Management LLC grew its holdings in Hudson Pacific Properties by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock valued at $16,381,000 after purchasing an additional 154,101 shares during the period. Millennium Management LLC increased its position in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares during the last quarter. B&I Capital AG raised its stake in shares of Hudson Pacific Properties by 23.4% in the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock valued at $8,174,000 after buying an additional 322,033 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Hudson Pacific Properties by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock valued at $6,209,000 after buying an additional 43,728 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.