Hudson Pacific Properties (NYSE:HPP) Shares Gap Down After Analyst Downgrade

Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating)’s share price gapped down prior to trading on Friday after Wells Fargo & Company lowered their price target on the stock from $10.00 to $7.00. The stock had previously closed at $6.95, but opened at $6.59. Wells Fargo & Company currently has an equal weight rating on the stock. Hudson Pacific Properties shares last traded at $6.41, with a volume of 368,628 shares traded.

A number of other brokerages also recently issued reports on HPP. Mizuho cut their price objective on shares of Hudson Pacific Properties from $12.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, January 4th. StockNews.com began coverage on shares of Hudson Pacific Properties in a research report on Thursday. They set a “hold” rating on the stock. Morgan Stanley dropped their target price on shares of Hudson Pacific Properties from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 23rd. Finally, Robert W. Baird raised shares of Hudson Pacific Properties from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $13.00 to $12.00 in a research report on Thursday, January 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.36.

Institutional Trading of Hudson Pacific Properties

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in shares of Hudson Pacific Properties by 36.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,930,097 shares of the real estate investment trust’s stock valued at $18,780,000 after acquiring an additional 511,459 shares during the last quarter. Point72 Middle East FZE purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at $48,000. Captrust Financial Advisors boosted its holdings in shares of Hudson Pacific Properties by 10.9% in the 4th quarter. Captrust Financial Advisors now owns 12,625 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 1,246 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Hudson Pacific Properties by 112.4% in the 4th quarter. Jane Street Group LLC now owns 155,106 shares of the real estate investment trust’s stock valued at $1,509,000 after acquiring an additional 82,064 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at $279,000. 95.57% of the stock is owned by hedge funds and other institutional investors.

Hudson Pacific Properties Stock Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.21 and a current ratio of 2.21. The firm’s 50 day moving average is $9.81 and its 200-day moving average is $10.63. The stock has a market capitalization of $871.75 million, a price-to-earnings ratio of -15.85 and a beta of 1.11.

Hudson Pacific Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Monday, March 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 16.18%. The ex-dividend date of this dividend is Friday, March 17th. Hudson Pacific Properties’s dividend payout ratio is currently -256.40%.

Hudson Pacific Properties Company Profile

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Hudson Pacific Properties, Inc is a real estate company, which acquires, repositions, develops, and operates sustainable office and state of-the-art studio properties in high-barrier-to-entry submarkets in California, the Pacific Northwest, Western Canada, and Greater London, United Kingdom. It operates through the Office Properties and Studio Properties segments.