Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $4.50 at Wells Fargo & Company

Hudson Pacific Properties (NYSE:HPP) had its price objective reduced by Wells Fargo & Company from $5.00 to $4.50 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets cut shares of Hudson Pacific Properties from an outperform rating to a market perform rating and cut their target price for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. The Goldman Sachs Group cut their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a neutral rating for the company in a research report on Wednesday, August 14th. Piper Sandler lowered shares of Hudson Pacific Properties from an overweight rating to a neutral rating and cut their price objective for the company from $7.00 to $6.00 in a research report on Thursday, August 8th. Wolfe Research lowered shares of Hudson Pacific Properties from an outperform rating to a peer perform rating in a research report on Wednesday, August 14th. Finally, Scotiabank cut their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a sector perform rating for the company in a research report on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $6.95.

Hudson Pacific Properties Stock Up 2.3 %

Shares of NYSE:HPP opened at $4.96 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties has a fifty-two week low of $4.26 and a fifty-two week high of $9.85. The firm’s 50-day simple moving average is $5.20 and its 200-day simple moving average is $5.49. The company has a market cap of $700.50 million, a price-to-earnings ratio of -3.10, a PEG ratio of 0.84 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The company had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.08 million. During the same quarter last year, the business earned $0.24 EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, equities research analysts predict that Hudson Pacific Properties will post 0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Several institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Hudson Pacific Properties by 12.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,097,841 shares of the real estate investment trust’s stock worth $38,151,000 after buying an additional 439,331 shares during the period. Allianz Asset Management GmbH lifted its position in shares of Hudson Pacific Properties by 114.3% during the fourth quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock worth $19,621,000 after purchasing an additional 1,124,100 shares in the last quarter. Presima Securities ULC lifted its position in shares of Hudson Pacific Properties by 7.2% during the fourth quarter. Presima Securities ULC now owns 2,066,415 shares of the real estate investment trust’s stock worth $19,238,000 after purchasing an additional 139,619 shares in the last quarter. GRS Advisors LLC acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth $18,489,000. Finally, Millennium Management LLC lifted its position in shares of Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. 97.58% of the stock is currently owned by hedge funds and other 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.