The Goldman Sachs Group Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.40

Hudson Pacific Properties (NYSE:HPP) had its target price reduced by The Goldman Sachs Group from $3.90 to $3.40 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.

A number of other research firms also recently issued reports on HPP. Jefferies Financial Group cut their price objective on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Mizuho dropped their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler cut their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday. Finally, Scotiabank decreased their price objective on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.31.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $3.30 on Tuesday. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $7.20. 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’s fifty day simple moving average is $2.99 and its two-hundred day simple moving average is $3.90. The stock has a market capitalization of $465.36 million, a P/E ratio of -1.28 and a beta of 1.30.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $209.67 million for the quarter, compared to the consensus estimate 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, analysts predict that Hudson Pacific Properties will post 0.45 EPS for the current year.

Insider Activity

In other news, CEO Victor J. Coleman bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the transaction, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. This represents a 11.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GeoWealth Management LLC purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at $27,000. Blue Trust Inc. lifted its stake 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 purchasing an additional 5,013 shares during the last quarter. Xponance Inc. bought a new stake in Hudson Pacific Properties in the fourth quarter worth $30,000. Opinicus Capital Inc. purchased a new stake in Hudson Pacific Properties during the fourth quarter valued at about $32,000. Finally, Cibc World Markets Corp bought a new position in shares of Hudson Pacific Properties during the fourth quarter valued at about $39,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

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.