Mizuho Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its price target dropped by Mizuho from $5.00 to $3.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective suggests a potential upside of 10.70% from the stock’s previous close.

A number of other research analysts have also recently commented on HPP. Jefferies Financial Group reduced their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Piper Sandler decreased their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company lowered their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.08.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock opened at $2.71 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $382.74 million, a P/E ratio of -1.30 and a beta of 1.30. The firm has a fifty day moving average of $3.47 and a 200-day moving average of $4.45. Hudson Pacific Properties has a 52-week low of $2.39 and a 52-week high of $9.44.

Insider Buying and Selling

In other news, CEO Victor J. Coleman acquired 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. This trade represents a 11.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Van ECK Associates Corp raised its stake in Hudson Pacific Properties by 9.9% during the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 2,399 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Hudson Pacific Properties by 3.0% in the 2nd 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 during the last quarter. abrdn plc boosted its position in Hudson Pacific Properties by 10.5% during the 3rd quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 2,710 shares during the period. Amalgamated Bank grew its stake in Hudson Pacific Properties by 10.0% during the 3rd quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 3,802 shares during the last quarter. Finally, Everence Capital Management Inc. increased its position in Hudson Pacific Properties by 17.4% in the third quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 4,070 shares during the period. 97.58% of the stock is currently owned by institutional investors.

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.