Hudson Pacific Properties (NYSE:HPP) Earns Overweight Rating from Piper Sandler

Hudson Pacific Properties (NYSE:HPP)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a report released on Friday, Benzinga reports. They currently have a $7.00 price target on the real estate investment trust’s stock, down from their previous price target of $9.00. Piper Sandler’s price objective suggests a potential upside of 27.04% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Hudson Pacific Properties from $7.10 to $10.60 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Morgan Stanley decreased their price target on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. BMO Capital Markets boosted their price target on Hudson Pacific Properties from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Wolfe Research raised shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price for the company in a research note on Monday, March 18th. Finally, Wedbush lowered shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $7.50 in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average target price of $8.85.

Hudson Pacific Properties Stock Up 1.3 %

NYSE:HPP opened at $5.51 on Friday. The company has a market cap of $777.74 million, a PE ratio of -3.44, a PEG ratio of 0.46 and a beta of 1.31. The stock has a 50-day simple moving average of $6.24 and a 200 day simple moving average of $6.86. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.79 and a current ratio of 1.85. Hudson Pacific Properties has a 52-week low of $4.05 and a 52-week high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results 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 company had revenue of $223.42 million during the quarter, compared to analysts’ expectations of $223.93 million. Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, sell-side analysts expect that Hudson Pacific Properties will post 1.05 EPS for the current fiscal year.

Insider Activity

In related news, CIO Drew Gordon sold 10,000 shares of Hudson Pacific Properties stock in a transaction dated Friday, February 16th. The shares were 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 of the company’s stock, valued at approximately $829,694.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CIO Drew Gordon sold 10,000 shares of the company’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 value of $71,100.00. Following the transaction, the executive now owns 116,694 shares of the company’s stock, valued at $829,694.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry A. Sholem purchased 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average cost of $6.69 per share, with a total value of $267,600.00. Following the completion of the acquisition, the director now owns 70,176 shares in the company, valued at approximately $469,477.44. The disclosure for this purchase can be found here. Insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently modified their holdings of the business. Financial Gravity Asset Management Inc. grew its position in shares of Hudson Pacific Properties by 103,925.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 4,157 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 2,286 shares during the period. Quantbot Technologies LP bought a new position in Hudson Pacific Properties during the 3rd quarter worth $58,000. Optas LLC acquired a new position in Hudson Pacific Properties in the 3rd quarter valued at $67,000. Finally, Sage Rhino Capital LLC bought a new stake in shares of Hudson Pacific Properties during the 3rd quarter valued at $67,000. 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.