Hudson Pacific Properties, Inc. (NYSE:HPP) Given Consensus Rating of “Reduce” by Brokerages

Hudson Pacific Properties, Inc. (NYSE:HPP) has been given a consensus rating of “Reduce” by the ten research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.49.

HPP has been the subject of several recent analyst reports. Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their target price for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Finally, Piper Sandler reduced their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th.

Hudson Pacific Properties Stock Performance

Shares of HPP stock opened at $3.03 on Wednesday. The stock has a market cap of $427.93 million, a PE ratio of -1.45 and a beta of 1.27. The stock has a 50-day moving average of $3.66 and a 200-day moving average of $4.54. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $9.85.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $2.87 per share, with a total value of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at $1,398,984.37. This trade represents a 11.43 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HPP. Anthracite Investment Company Inc. acquired a new position in shares of Hudson Pacific Properties during the 3rd quarter worth about $1,320,000. Wolverine Asset Management LLC raised its holdings in Hudson Pacific Properties by 42.3% during the third quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock worth $2,755,000 after acquiring an additional 171,424 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Hudson Pacific Properties during the third quarter valued at approximately $1,332,000. Millennium Management LLC grew its stake in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Hudson Pacific Properties by 450.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock valued at $5,096,000 after purchasing an additional 872,538 shares in the last quarter. Institutional investors own 97.58% of the company’s stock.

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.