Hudson Pacific Properties (NYSE:HPP) Given New $3.00 Price Target at Jefferies Financial Group

Hudson Pacific Properties (NYSE:HPP) had its target price reduced by equities researchers at Jefferies Financial Group from $3.70 to $3.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 0.67% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Piper Sandler reduced their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Wells Fargo & Company reduced 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 note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.29.

Hudson Pacific Properties Stock Down 1.7 %

Shares of Hudson Pacific Properties stock traded down $0.05 during midday trading on Thursday, hitting $2.98. The company had a trading volume of 434,311 shares, compared to its average volume of 3,729,505. Hudson Pacific Properties has a 52-week low of $2.39 and a 52-week high of $9.84. 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 stock has a market capitalization of $420.87 million, a P/E ratio of -1.43 and a beta of 1.27. The company has a 50 day moving average of $3.63 and a 200 day moving average of $4.53.

Insider Activity at Hudson Pacific Properties

In other news, CEO Victor J. Coleman acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $2.87 per share, with a total value of $143,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its position in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 5,013 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Hudson Pacific Properties in the 3rd quarter worth $44,000. Stifel Financial Corp bought a new position in Hudson Pacific Properties in the 3rd quarter worth $48,000. MQS Management LLC purchased a new position in Hudson Pacific Properties during the third quarter valued at $58,000. Finally, Metis Global Partners LLC purchased a new position in Hudson Pacific Properties during the third quarter valued at $66,000. 97.58% of the stock is 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.