The Goldman Sachs Group Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $2.30

Hudson Pacific Properties (NYSE:HPP) had its price target decreased by The Goldman Sachs Group from $3.40 to $2.30 in a report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company raised Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price target on the stock in a research report on Monday, March 10th. Morgan Stanley reissued an “underweight” rating and issued a $1.75 price target on shares of Hudson Pacific Properties in a research report on Tuesday, April 15th. Scotiabank decreased their price target on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Piper Sandler dropped their price objective on shares of Hudson Pacific Properties from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a research note on Monday, March 17th. They set a “hold” rating and a $2.70 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Hudson Pacific Properties currently has an average rating of “Hold” and an average target price of $3.14.

Hudson Pacific Properties Stock Performance

Hudson Pacific Properties stock opened at $2.24 on Tuesday. Hudson Pacific Properties has a 12-month low of $2.00 and a 12-month high of $6.29. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $316.63 million, a PE ratio of -0.87 and a beta of 1.30. The firm has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $3.25.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. As a group, equities research analysts expect that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Green Alpha Advisors LLC boosted its position in Hudson Pacific Properties by 77.7% during the fourth quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock worth $1,580,000 after purchasing an additional 228,079 shares during the period. Stifel Financial Corp acquired a new stake in shares of Hudson Pacific Properties in the third quarter worth $48,000. Union Bancaire Privee UBP SA bought a new stake in shares of Hudson Pacific Properties during the 4th quarter worth $436,000. Brown University acquired a new position in Hudson Pacific Properties in the 4th quarter valued at $1,832,000. Finally, Helix Partners Management LP bought a new position in Hudson Pacific Properties in the 4th quarter worth $579,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

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.