Hudson Pacific Properties (NYSE:HPP) Given New $6.00 Price Target at Morgan Stanley

Hudson Pacific Properties (NYSE:HPP) had its price objective lowered by equities research analysts at Morgan Stanley from $7.00 to $6.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would indicate a potential downside of 5.96% from the company’s previous close.

A number of other research analysts have also issued reports on HPP. Piper Sandler reduced their price target on Hudson Pacific Properties from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. BTIG Research upped their price target on Hudson Pacific Properties from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, December 29th. Jefferies Financial Group raised Hudson Pacific Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $6.00 to $12.00 in a research report on Tuesday, January 2nd. Wedbush downgraded Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $7.50 in a research note on Tuesday, February 20th. Finally, Wolfe Research upgraded Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price for the company in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.05.

Hudson Pacific Properties Trading Down 0.2 %

Shares of NYSE HPP traded down $0.01 during midday trading on Thursday, hitting $6.38. The stock had a trading volume of 125,795 shares, compared to its average volume of 2,723,777. The company has a fifty day moving average price of $7.19 and a 200 day moving average price of $6.93. The company has a market capitalization of $900.28 million, a price-to-earnings ratio of -4.72, a PEG ratio of 0.52 and a beta of 1.31. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.31. Hudson Pacific Properties has a 1-year low of $4.05 and a 1-year high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. Hudson Pacific Properties had a negative return on equity of 5.74% and a negative net margin of 19.20%. The business had revenue of $223.42 million during the quarter, compared to the consensus estimate of $223.93 million. During the same period in the previous year, the business earned $0.49 EPS. The business’s quarterly revenue was down 17.2% on a year-over-year basis. On average, analysts predict that Hudson Pacific Properties will post 1.05 earnings per share for the current year.

Insider Transactions at Hudson Pacific Properties

In related news, Director Barry A. Sholem purchased 40,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the transaction, the director now directly owns 70,176 shares of the company’s stock, valued at $469,477.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of Hudson Pacific Properties stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the sale, the executive now owns 116,694 shares of the company’s stock, valued at approximately $829,694.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Sholem purchased 40,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the purchase, the director now directly owns 70,176 shares in the company, valued at $469,477.44. The disclosure for this purchase can be found here. 2.95% of the stock is owned by corporate insiders.

Institutional Trading of Hudson Pacific Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC boosted its holdings in shares of Hudson Pacific Properties by 3.4% during the first quarter. HighTower Advisors LLC now owns 18,542 shares of the real estate investment trust’s stock worth $514,000 after acquiring an additional 612 shares during the period. Cibc World Markets Corp boosted its stake in shares of Hudson Pacific Properties by 0.9% in the first quarter. Cibc World Markets Corp now owns 76,876 shares of the real estate investment trust’s stock valued at $2,133,000 after buying an additional 651 shares during the period. Captrust Financial Advisors boosted its stake in shares of Hudson Pacific Properties by 10.9% in the fourth quarter. Captrust Financial Advisors now owns 12,625 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 1,246 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Hudson Pacific Properties by 0.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 191,620 shares of the real estate investment trust’s stock valued at $1,784,000 after buying an additional 1,550 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of Hudson Pacific Properties by 2.0% in the first quarter. Yousif Capital Management LLC now owns 81,235 shares of the real estate investment trust’s stock valued at $2,254,000 after buying an additional 1,611 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.