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

Hudson Pacific Properties, Inc. (NYSE:HPP) has received an average recommendation of “Reduce” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $3.54.

Several research analysts have issued reports on HPP shares. Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a research report on Monday, March 17th. They issued a “hold” rating and a $2.70 price target on the stock. Wells Fargo & Company raised shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective for the company in a research note on Monday, March 10th. Scotiabank decreased their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group decreased their price objective on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their price objective on shares of Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating for the company in a research note on Tuesday, March 18th.

Hedge Funds Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently modified their holdings of HPP. Balyasny Asset Management L.P. increased its stake in shares of Hudson Pacific Properties by 265.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after purchasing an additional 7,303,472 shares during the last quarter. Millennium Management LLC increased its stake in shares of Hudson Pacific Properties by 303.5% during the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after purchasing an additional 5,554,444 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Hudson Pacific Properties by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after purchasing an additional 458,783 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Hudson Pacific Properties by 0.5% during the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after purchasing an additional 21,320 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Hudson Pacific Properties by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock worth $10,572,000 after purchasing an additional 61,868 shares during the last quarter. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Pacific Properties Trading Down 2.5 %

Hudson Pacific Properties stock opened at $2.93 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $413.46 million, a price-to-earnings ratio of -1.14 and a beta of 1.31. Hudson Pacific Properties has a 1 year low of $2.39 and a 1 year high of $6.69. The firm’s 50 day moving average price is $3.02 and its two-hundred day moving average price is $3.65.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results 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. The firm had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. On average, research analysts predict that Hudson Pacific Properties will post 0.45 EPS for the current fiscal 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.