Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $4.50 at Piper Sandler

Hudson Pacific Properties (NYSE:HPP) had its price objective trimmed by Piper Sandler from $5.00 to $4.50 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 11th. BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $6.00 in a report on Thursday, August 8th. The Goldman Sachs Group reduced their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Wolfe Research cut shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, Scotiabank reduced their price target 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Hudson Pacific Properties has a consensus rating of “Hold” and an average price target of $6.17.

Hudson Pacific Properties Stock Performance

NYSE HPP traded down $0.29 during trading hours on Friday, hitting $3.68. The company had a trading volume of 4,272,919 shares, compared to its average volume of 2,405,856. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market cap of $519.73 million, a P/E ratio of -1.76 and a beta of 1.31. Hudson Pacific Properties has a fifty-two week low of $3.66 and a fifty-two week high of $9.85. The business has a fifty day simple moving average of $4.60 and a 200-day simple moving average of $4.95.

Insider Buying and Selling at Hudson Pacific Properties

In other news, Director Jonathan M. Glaser sold 9,287 shares of the business’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 sale, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at $322,439.04. This represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of hedge funds have recently made changes to their positions in HPP. Millennium Management LLC raised its holdings in 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 period. Scion Asset Management LLC bought a new position in Hudson Pacific Properties in the second quarter valued at $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Hudson Pacific Properties by 450.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock worth $5,096,000 after buying an additional 872,538 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Hudson Pacific Properties by 1,822.5% in the 3rd quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock worth $3,633,000 after acquiring an additional 720,549 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after purchasing an additional 630,932 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors.

About Hudson Pacific Properties

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.