Hudson Pacific Properties, Inc. (NYSE:HPP) Receives Average Recommendation of “Hold” from Brokerages

Hudson Pacific Properties, Inc. (NYSE:HPP) has been given a consensus rating of “Hold” by the ten analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.05.

Several analysts have recently issued reports on HPP shares. Jefferies Financial Group raised Hudson Pacific Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $6.00 to $12.00 in a report on Tuesday, January 2nd. The Goldman Sachs Group increased their target price on Hudson Pacific Properties from $7.10 to $10.60 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Morgan Stanley reduced their target price on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Piper Sandler reduced their target price on Hudson Pacific Properties from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Finally, Wedbush lowered Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $11.00 to $7.50 in a report on Tuesday, February 20th.

Hudson Pacific Properties Stock Down 4.7 %

HPP stock opened at $5.67 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $800.32 million, a price-to-earnings ratio of -4.14, a PEG ratio of 0.50 and a beta of 1.30. The business’s fifty day moving average price is $6.40 and its two-hundred day moving average price is $6.87. Hudson Pacific Properties has a fifty-two week low of $4.05 and a fifty-two week high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $223.42 million for the quarter, compared to analysts’ expectations of $223.93 million. Hudson Pacific Properties had a negative return on equity of 5.74% and a negative net margin of 19.20%. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. On average, equities analysts anticipate that Hudson Pacific Properties will post 1.05 earnings per share for the current year.

Hudson Pacific Properties Announces Dividend

The firm also recently announced a — dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties’s payout ratio is currently -14.60%.

Insiders Place Their Bets

In other news, CIO Drew Gordon sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.11, for a total transaction of $71,100.00. Following the completion of the sale, the executive now owns 116,694 shares in the company, valued at $829,694.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Barry A. Sholem bought 40,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the purchase, the director now directly owns 70,176 shares in the company, valued at approximately $469,477.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CIO Drew Gordon sold 10,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $7.11, for a total value of $71,100.00. Following the sale, the executive now owns 116,694 shares in the company, valued at $829,694.34. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Institutional investors have recently added to or reduced their stakes in the business. abrdn plc increased its stake in Hudson Pacific Properties by 3,569.3% in the 3rd quarter. abrdn plc now owns 1,006,648 shares of the real estate investment trust’s stock worth $6,694,000 after acquiring an additional 979,214 shares during the last quarter. Jennison Associates LLC purchased a new stake in Hudson Pacific Properties during the 3rd quarter valued at about $820,000. FMR LLC boosted its holdings in Hudson Pacific Properties by 6,191.3% during 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 acquiring an additional 5,308,032 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Hudson Pacific Properties by 238.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 130,942 shares of the real estate investment trust’s stock valued at $880,000 after acquiring an additional 92,304 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Hudson Pacific Properties during the 3rd quarter valued at about $7,315,000. 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.