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

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have earned a consensus rating of “Reduce” from the ten analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.31.

Several analysts have recently weighed in on HPP shares. Piper Sandler decreased their target price on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Monday. Mizuho decreased their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group decreased their target price on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday. Jefferies Financial Group decreased their target price on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Scotiabank reduced their price target on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th.

Insider Activity

In related news, CEO Victor J. Coleman purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the purchase, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in 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 valued at $123,000 after buying an additional 2,399 shares during the period. abrdn plc lifted its holdings in Hudson Pacific Properties by 10.5% in the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 2,710 shares during the period. Amalgamated Bank lifted its holdings in Hudson Pacific Properties by 10.0% in the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 3,802 shares during the period. Everence Capital Management Inc. lifted its holdings in Hudson Pacific Properties by 17.4% in 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 buying an additional 4,070 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Hudson Pacific Properties by 6.9% in the third quarter. Louisiana State Employees Retirement System now owns 68,200 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 4,400 shares during the period. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $3.08 on Thursday. The company has a market capitalization of $434.99 million, a PE ratio of -1.20 and a beta of 1.30. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $7.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The company’s fifty day moving average price is $2.98 and its 200 day moving average price is $3.91.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $207.95 million. As a group, analysts expect that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

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.