Hudson Pacific Properties, Inc. (NYSE:HPP) Receives $6.94 Consensus PT from Analysts

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have been given an average recommendation of “Hold” by the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.94.

A number of equities analysts have weighed in on the company. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Scotiabank reduced their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. The Goldman Sachs Group dropped their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company decreased their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Finally, Bank of America dropped their price target on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd.

Insider Buying and Selling

In other news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Andy Wattula sold 9,356 shares of the company’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 completion of the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the transaction, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its stake in Hudson Pacific Properties by 225.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 116,945 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Hudson Pacific Properties by 167.2% during the 1st quarter. GSA Capital Partners LLP now owns 302,179 shares of the real estate investment trust’s stock worth $1,949,000 after acquiring an additional 189,104 shares during the period. Millennium Management LLC boosted its position in shares of Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after acquiring an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC purchased a new stake in shares of Hudson Pacific Properties in the second quarter valued at about $5,505,000. Finally, Price T Rowe Associates Inc. MD increased its position in Hudson Pacific Properties by 405.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock worth $1,995,000 after purchasing an additional 248,117 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Down 1.7 %

Shares of HPP stock opened at $4.69 on Friday. Hudson Pacific Properties has a fifty-two week low of $4.26 and a fifty-two week high of $9.85. The firm has a market capitalization of $661.97 million, a PE ratio of -2.93 and a beta of 1.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The stock’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $5.14.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.50). The business had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. Hudson Pacific Properties’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. Equities analysts expect that Hudson Pacific Properties will post 0.57 earnings per share for the current 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.