Scotiabank Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its price target reduced by Scotiabank from $4.00 to $3.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho cut their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group cut their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Piper Sandler cut their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.54.

Hudson Pacific Properties Price Performance

NYSE:HPP opened at $3.12 on Tuesday. Hudson Pacific Properties has a 52 week low of $2.39 and a 52 week high of $7.20. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $439.93 million, a P/E ratio of -1.49 and a beta of 1.30. The stock’s fifty day moving average is $2.98 and its two-hundred day moving average is $3.97.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Hudson Pacific Properties had a negative return on equity of 9.64% and a negative net margin of 33.39%. Equities analysts expect that Hudson Pacific Properties will post 0.51 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Victor J. Coleman purchased 50,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price 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 in the company, valued at $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Anthracite Investment Company Inc. acquired a new position in shares of Hudson Pacific Properties during the 3rd quarter worth about $1,320,000. Green Alpha Advisors LLC boosted its position in shares of Hudson Pacific Properties by 77.7% during the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock worth $1,580,000 after acquiring an additional 228,079 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of Hudson Pacific Properties by 42.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock worth $2,755,000 after acquiring an additional 171,424 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Hudson Pacific Properties during the 3rd quarter worth about $1,332,000. Finally, Stifel Financial Corp acquired a new position in shares of Hudson Pacific Properties during the 3rd quarter worth about $48,000. 97.58% of the stock is owned by institutional investors and hedge funds.

About Hudson Pacific Properties

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.