Hudson Pacific Properties (NYSE:HPP) Price Target Cut to $2.30 by Analysts at The Goldman Sachs Group

Hudson Pacific Properties (NYSE:HPP) had its price target decreased by The Goldman Sachs Group from $3.40 to $2.30 in a research note issued to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the stock. Morgan Stanley reiterated an “underweight” rating and set a $1.75 price objective on shares of Hudson Pacific Properties in a research report on Tuesday, April 15th. Wells Fargo & Company upgraded shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price on the stock in a research report on Monday, March 10th. Jefferies Financial Group initiated coverage on Hudson Pacific Properties in a research report on Monday, March 17th. They issued a “hold” rating and a $2.70 price target for the company. Mizuho decreased their price objective on 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. Finally, Piper Sandler lowered their price objective on Hudson Pacific Properties from $3.50 to $2.50 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.14.

Hudson Pacific Properties Stock Up 1.1 %

HPP opened at $2.23 on Tuesday. The company has a market capitalization of $314.51 million, a PE ratio of -0.87 and a beta of 1.30. The firm has a 50-day simple moving average of $2.76 and a two-hundred day simple moving average of $3.28. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a 52 week low of $2.00 and a 52 week high of $6.29.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly 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. The company had revenue of $209.67 million during the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. Analysts forecast that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Hudson Pacific Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp bought a new position in shares of Hudson Pacific Properties in the third quarter worth about $48,000. Barclays PLC grew its stake in Hudson Pacific Properties by 120.9% in the 3rd quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust’s stock worth $1,168,000 after acquiring an additional 133,673 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 worth $16,381,000 after acquiring an additional 154,101 shares during the period. Green Alpha Advisors LLC raised its position in 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 valued at $1,580,000 after purchasing an additional 228,079 shares in the last quarter. Finally, Mechanics Bank Trust Department purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter worth $60,000. Hedge funds and other institutional investors 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.