Piper Sandler Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.50

Hudson Pacific Properties (NYSE:HPP) had its target price decreased by equities research analysts at Piper Sandler from $4.50 to $3.50 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective indicates a potential upside of 18.85% from the stock’s previous close.

HPP has been the subject of a number of other reports. Scotiabank lowered their price target on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their price objective 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, Mizuho dropped their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, Hudson Pacific Properties presently has an average rating of “Hold” and a consensus price target of $4.44.

Hudson Pacific Properties Stock Performance

Shares of Hudson Pacific Properties stock traded down $0.06 on Monday, reaching $2.95. 324,253 shares of the company traded hands, compared to its average volume of 2,728,397. 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 firm has a market capitalization of $415.92 million, a PE ratio of -1.15 and a beta of 1.30. Hudson Pacific Properties has a 52 week low of $2.39 and a 52 week high of $7.20. The company has a 50 day moving average of $2.97 and a 200 day moving average of $3.94.

Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating 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 business had revenue of $209.67 million during the quarter, compared to analyst estimates of $207.95 million. Equities analysts forecast that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman bought 50,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average price 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 in the company, valued at $1,398,984.37. The trade was a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of institutional investors have recently modified their holdings of HPP. Anthracite Investment Company Inc. acquired a new stake in Hudson Pacific Properties in the third quarter valued at approximately $1,320,000. Green Alpha Advisors LLC increased its position in Hudson Pacific Properties by 77.7% in 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 acquiring an additional 228,079 shares during the period. Wolverine Asset Management LLC lifted its position in Hudson Pacific Properties by 42.3% in the third quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock valued at $2,755,000 after purchasing an additional 171,424 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Hudson Pacific Properties in the third quarter worth $1,332,000. Finally, Stifel Financial Corp acquired a new position in Hudson Pacific Properties during the third quarter worth about $48,000. 97.58% of the stock is owned by institutional investors and hedge funds.

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.