Piper Sandler Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $2.00

Hudson Pacific Properties (NYSE:HPP) had its price objective reduced by Piper Sandler from $2.50 to $2.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Hudson Pacific Properties from $4.00 to $3.40 and set an “overweight” rating on the stock in a research report on Monday, May 19th. BTIG Research set a $8.00 price objective on shares of Hudson Pacific Properties and gave the company a “buy” rating in a research report on Tuesday, May 6th. Scotiabank cut their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. BMO Capital Markets upgraded shares of Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $4.00 to $5.00 in a research report on Friday, March 28th. Finally, Jefferies Financial Group began coverage on shares of Hudson Pacific Properties in a research report on Monday, March 17th. They set a “hold” rating and a $2.70 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.52.

Hudson Pacific Properties Trading Down 1.8%

NYSE HPP opened at $1.89 on Friday. Hudson Pacific Properties has a one year low of $1.81 and a one year high of $6.29. The company has a 50-day simple moving average of $2.37 and a 200-day simple moving average of $2.89. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $266.52 million, a PE ratio of -0.73 and a beta of 1.48.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $198.46 million for the quarter, compared to the consensus estimate of $199.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. On average, equities analysts forecast that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Institutional Trading of Hudson Pacific Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. increased its position in shares of Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after acquiring an additional 7,303,472 shares in the last quarter. Millennium Management LLC increased its position in shares of Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after acquiring an additional 5,554,444 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Hudson Pacific Properties by 10.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,241,593 shares of the real estate investment trust’s stock worth $18,413,000 after acquiring an additional 573,233 shares in the last quarter. Legal & General Group Plc increased its position in shares of Hudson Pacific Properties by 0.5% in the fourth quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after acquiring an additional 21,320 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Hudson Pacific Properties in the first quarter worth approximately $10,333,000. 97.58% of the stock is currently owned by institutional investors.

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.