Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $4.50 at Piper Sandler

Hudson Pacific Properties (NYSE:HPP) had its price objective trimmed by Piper Sandler from $5.00 to $4.50 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on the company. Scotiabank dropped their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Bank of America dropped their price target on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Wolfe Research cut shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their target price for the stock from $5.50 to $5.00 in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Stock Down 7.3 %

HPP opened at $3.68 on Friday. The stock has a market cap of $519.73 million, a price-to-earnings ratio of -1.76 and a beta of 1.31. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.47 and a current ratio of 1.26. The firm’s fifty day moving average is $4.60 and its 200 day moving average is $4.94. Hudson Pacific Properties has a fifty-two week low of $3.66 and a fifty-two week high of $9.85.

Insiders Place Their Bets

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

Institutional Trading of Hudson Pacific Properties

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Hudson Pacific Properties by 549.1% during the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 5,013 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Hudson Pacific Properties during the 3rd quarter valued at $44,000. Stifel Financial Corp bought a new position in Hudson Pacific Properties in the 3rd quarter valued at $48,000. Key Client Fiduciary Advisors LLC bought a new stake in shares of Hudson Pacific Properties during the second quarter worth $53,000. Finally, MQS Management LLC bought a new stake in shares of Hudson Pacific Properties during the third quarter worth $58,000. Institutional investors own 97.58% of the company’s stock.

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.