Hudson Pacific Properties (NYSE:HPP) Downgraded by Morgan Stanley to “Underweight”

Hudson Pacific Properties (NYSE:HPPGet Free Report) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Wednesday, Briefing.com reports. They presently have a $4.25 price target on the real estate investment trust’s stock, down from their prior price target of $6.00. Morgan Stanley’s price objective points to a potential downside of 17.56% from the company’s previous close.

A number of other brokerages also recently commented on HPP. Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target for the company in a report on Monday, March 18th. The Goldman Sachs Group lowered their price target on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $7.00 price target on shares of Hudson Pacific Properties in a report on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties presently has an average rating of “Hold” and an average target price of $8.32.

View Our Latest Stock Report on Hudson Pacific Properties

Hudson Pacific Properties Stock Up 2.7 %

Shares of NYSE HPP opened at $5.16 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. Hudson Pacific Properties has a 52 week low of $4.26 and a 52 week high of $9.85. The firm has a 50-day moving average price of $5.02 and a 200 day moving average price of $6.48. The stock has a market capitalization of $727.63 million, a price-to-earnings ratio of -3.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Hudson Pacific Properties (NYSE:HPPGet Free Report) last announced its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.53). The business had revenue of $214.02 million for the quarter, compared to analyst estimates of $220.61 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. Equities research analysts anticipate that Hudson Pacific Properties will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hudson Pacific Properties news, CEO Victor J. Coleman sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total transaction of $518,000.00. Following the completion of the sale, the chief executive officer now directly owns 387,451 shares in the company, valued at $2,006,996.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 13,420 shares of company stock worth $59,912 over the last ninety days. 3.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in Hudson Pacific Properties by 42.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 2,286 shares during the period. Versor Investments LP acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth $99,000. Spirit of America Management Corp NY acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth $102,000. GAMMA Investing LLC acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth $102,000. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth $102,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

About Hudson Pacific Properties

(Get Free Report)

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.

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Analyst Recommendations for Hudson Pacific Properties (NYSE:HPP)

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