Hudson Pacific Properties, Inc. (NYSE:HPP) Receives $5.49 Average PT from Analysts

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have earned an average recommendation of “Reduce” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.29.

Several brokerages have issued reports on HPP. Wells Fargo & Company lowered their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th. Piper Sandler lowered their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Jefferies Financial Group cut their price target on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research note on Thursday.

Insider Buying and Selling

In related news, CEO Victor J. Coleman acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $2.87 per share, with a total value of $143,500.00. Following the acquisition, the chief executive officer now directly owns 487,451 shares in the company, valued at $1,398,984.37. The trade was a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in shares of Hudson Pacific Properties by 9.9% during the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 2,399 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Hudson Pacific Properties by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 2,408 shares during the last quarter. abrdn plc boosted its position in Hudson Pacific Properties by 10.5% in the 3rd quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 2,710 shares during the last quarter. Amalgamated Bank raised its position in shares of Hudson Pacific Properties by 10.0% during the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 3,802 shares during the last quarter. Finally, Everence Capital Management Inc. lifted its stake in shares of Hudson Pacific Properties by 17.4% during the third quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock valued at $131,000 after acquiring an additional 4,070 shares during the period. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $2.90 on Wednesday. The business’s 50 day moving average is $3.57 and its 200-day moving average is $4.50. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $409.57 million, a PE ratio of -1.39 and a beta of 1.27. Hudson Pacific Properties has a 1-year low of $2.39 and a 1-year high of $9.84.

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.