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

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) gapped down before the market opened on Monday after Bank of America downgraded the stock from a neutral rating to an underperform rating. The stock had previously closed at $5.27, but opened at $5.04. Bank of America now has a $4.00 price target on the stock, down from their previous price target of $5.50. Hudson Pacific Properties shares last traded at $4.90, with a volume of 795,052 shares traded.

A number of other analysts have also recently issued reports on HPP. The Goldman Sachs Group lifted their target price on shares of Hudson Pacific Properties from $5.00 to $5.50 and gave the company a “sell” rating in a research note on Tuesday, September 19th. Mizuho upgraded shares of Hudson Pacific Properties from an “underperform” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $7.00 in a research note on Wednesday, October 18th. StockNews.com assumed coverage on shares of Hudson Pacific Properties in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. BTIG Research raised shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, September 26th. Finally, Wedbush started coverage on shares of Hudson Pacific Properties in a research report on Tuesday, October 3rd. They set an “outperform” rating and a $8.00 target price on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and an average price target of $7.68.

Institutional Investors Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently bought and sold shares of HPP. Norges Bank bought a new stake in Hudson Pacific Properties in the 4th quarter valued at $101,242,000. FMR LLC increased its holdings in Hudson Pacific Properties by 6,191.3% in the 3rd quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock valued at $35,869,000 after buying an additional 5,308,032 shares during the period. Point72 Asset Management L.P. increased its holdings in Hudson Pacific Properties by 10,679.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,433,330 shares of the real estate investment trust’s stock valued at $18,709,000 after buying an additional 4,392,204 shares during the period. Prudential Financial Inc. increased its holdings in Hudson Pacific Properties by 265.6% in the 1st quarter. Prudential Financial Inc. now owns 5,690,962 shares of the real estate investment trust’s stock valued at $37,845,000 after buying an additional 4,134,472 shares during the period. Finally, Deutsche Bank AG increased its holdings in Hudson Pacific Properties by 2,367.6% in the 3rd quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock valued at $28,469,000 after buying an additional 4,107,498 shares during the period. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.51 and a current ratio of 1.51. The company’s 50 day moving average price is $5.92 and its 200 day moving average price is $5.51. The company has a market cap of $701.88 million, a price-to-earnings ratio of -6.55 and a beta of 1.12.

Hudson Pacific Properties (NYSE:HPP) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.48). Hudson Pacific Properties had a negative net margin of 10.00% and a negative return on equity of 3.07%. The firm had revenue of $231.44 million during the quarter, compared to analyst estimates of $238.37 million. On average, equities research analysts predict that Hudson Pacific Properties, Inc. will post 0.99 earnings per share for the current fiscal year.

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.