Hudson Pacific Properties (NYSE:HPP) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Hudson Pacific Properties (NYSE:HPP) from a buy rating to a hold rating in a report issued on Tuesday morning, MarketBeat.com reports. Jefferies Financial Group currently has $5.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $5.50.

Several other analysts have also commented on HPP. Bank of America decreased their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Scotiabank cut their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Hudson Pacific Properties has an average rating of “Hold” and a consensus price target of $6.17.

Hudson Pacific Properties Trading Down 7.3 %

NYSE HPP opened at $3.68 on Tuesday. Hudson Pacific Properties has a 52 week low of $3.66 and a 52 week high of $9.85. The company has a 50 day moving average price of $4.60 and a 200 day moving average price of $4.95. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market cap of $519.73 million, a PE ratio of -1.76 and a beta of 1.31.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. This represents a 13.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. Scion Asset Management LLC purchased a new stake in shares of Hudson Pacific Properties in the second quarter valued at approximately $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hudson Pacific Properties by 450.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock worth $5,096,000 after buying an additional 872,538 shares during the period. GSA Capital Partners LLP lifted its position in shares of Hudson Pacific Properties by 1,822.5% during the 3rd quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after buying an additional 720,549 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Hudson Pacific Properties by 13.8% in the 3rd 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 period. 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.