The Goldman Sachs Group Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.40

Hudson Pacific Properties (NYSE:HPP) had its target price cut by The Goldman Sachs Group from $3.90 to $3.40 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 11.29% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group cut 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 report on Thursday, January 2nd. Mizuho cut their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Scotiabank reduced their target price on 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. Finally, Piper Sandler dropped their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, Hudson Pacific Properties presently has an average rating of “Hold” and a consensus target price of $4.31.

Hudson Pacific Properties Stock Up 0.8 %

NYSE HPP traded up $0.03 on Tuesday, hitting $3.06. The stock had a trading volume of 689,327 shares, compared to its average volume of 2,727,707. Hudson Pacific Properties has a 52-week low of $2.39 and a 52-week high of $7.20. The business’s fifty day moving average price is $2.97 and its 200 day moving average price is $3.93. 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 stock has a market cap of $431.46 million, a price-to-earnings ratio of -1.19 and a beta of 1.30.

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 for the quarter, topping the consensus estimate of $0.10 by $0.01. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. The firm had revenue of $209.67 million for the quarter, compared to the consensus estimate of $207.95 million. Equities research analysts anticipate that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Insider Buying and Selling at Hudson Pacific Properties

In other news, CEO Victor J. Coleman bought 50,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Hudson Pacific Properties

Several institutional investors have recently bought and sold shares of the business. DigitalBridge Group Inc. acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth approximately $2,199,000. Alpine Global Management LLC acquired a new position in Hudson Pacific Properties during the fourth quarter worth $185,000. Two Sigma Advisers LP lifted its holdings in Hudson Pacific Properties by 98.1% during the fourth quarter. Two Sigma Advisers LP now owns 631,800 shares of the real estate investment trust’s stock valued at $1,914,000 after purchasing an additional 312,900 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Hudson Pacific Properties by 103.2% in the fourth quarter. Two Sigma Investments LP now owns 1,192,633 shares of the real estate investment trust’s stock valued at $3,614,000 after purchasing an additional 605,759 shares during the period. Finally, Saba Capital Management L.P. increased its stake in shares of Hudson Pacific Properties by 105.2% during the fourth quarter. Saba Capital Management L.P. now owns 1,790,762 shares of the real estate investment trust’s stock worth $5,426,000 after purchasing an additional 918,045 shares in the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

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.