Hudson Pacific Properties (NYSE:HPP) PT Lowered to $4.50 at Wells Fargo & Company

Hudson Pacific Properties (NYSE:HPP) had its price objective trimmed by Wells Fargo & Company from $5.00 to $4.50 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on HPP. Piper Sandler lowered Hudson Pacific Properties from an overweight rating to a neutral rating and lowered their price target for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. Wolfe Research cut shares of Hudson Pacific Properties from an outperform rating to a peer perform rating in a research report on Wednesday, August 14th. Scotiabank dropped their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a sector perform rating for the company in a research note on Monday, August 26th. Morgan Stanley cut Hudson Pacific Properties from an equal weight rating to an underweight rating and lowered their target price for the stock from $6.00 to $4.25 in a report on Wednesday, July 10th. Finally, The Goldman Sachs Group cut their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a neutral rating for the company in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $6.95.

Hudson Pacific Properties Price Performance

Shares of NYSE HPP opened at $4.96 on Wednesday. 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 firm has a market cap of $700.50 million, a PE ratio of -3.10, a PEG ratio of 0.84 and a beta of 1.31. Hudson Pacific Properties has a one year low of $4.26 and a one year high of $9.85. The firm has a fifty day moving average of $5.20 and a 200 day moving average of $5.47.

Hudson Pacific Properties (NYSE:HPP) last released 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). Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The company had revenue of $218.00 million for the quarter, compared to analyst estimates of $216.08 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, research analysts predict that Hudson Pacific Properties will post 0.62 EPS for the current fiscal year.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its stake in shares of Hudson Pacific Properties by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust’s stock valued at $715,000 after purchasing an additional 2,164 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Hudson Pacific Properties by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock worth $402,000 after purchasing an additional 2,408 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Hudson Pacific Properties by 9.4% in the fourth quarter. Natixis Advisors L.P. now owns 33,247 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 2,852 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Hudson Pacific Properties by 8.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 41,396 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 3,081 shares during the period. Finally, Scotia Capital Inc. grew its holdings in shares of Hudson Pacific Properties by 4.3% during the fourth quarter. Scotia Capital Inc. now owns 94,739 shares of the real estate investment trust’s stock worth $882,000 after buying an additional 3,903 shares during the last quarter. Hedge funds and other institutional investors 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.