The Goldman Sachs Group Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price target cut by investment analysts at The Goldman Sachs Group from $3.90 to $3.40 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 11.29% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Mizuho lowered their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Scotiabank lowered their price objective on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group cut their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Finally, Piper Sandler reduced their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.31.

Hudson Pacific Properties Price Performance

HPP stock traded up $0.03 during midday trading on Tuesday, reaching $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 company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The company’s fifty day simple moving average is $2.97 and its 200 day simple moving average is $3.93. The company 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 posted its quarterly 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. The firm had revenue of $209.67 million for the quarter, compared to the consensus estimate of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. As a group, sell-side analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Insider Activity at Hudson Pacific Properties

In related news, CEO Victor J. Coleman purchased 50,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Several large investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. raised its position in Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after purchasing an additional 7,303,472 shares during the period. Millennium Management LLC lifted its position 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. Marshall Wace LLP grew its stake in shares of Hudson Pacific Properties by 853.2% during the fourth quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust’s stock worth $5,590,000 after purchasing an additional 1,651,382 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Hudson Pacific Properties by 95.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust’s stock valued at $7,895,000 after buying an additional 1,275,236 shares during the last quarter. Finally, Davis Selected Advisers increased its holdings in Hudson Pacific Properties by 88.0% in the fourth quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock valued at $6,911,000 after buying an additional 1,067,940 shares during the last quarter. 97.58% of the stock is currently 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.