Piper Sandler Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $2.50

Hudson Pacific Properties (NYSE:HPP) had its price target cut by Piper Sandler from $3.50 to $2.50 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on HPP. BMO Capital Markets raised Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $4.00 to $5.00 in a research report on Friday, March 28th. Scotiabank reduced their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a research report on Monday, March 17th. They issued a “hold” rating and a $2.70 target price on the stock. Wells Fargo & Company upgraded shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price target for the company in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lowered their price objective on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hudson Pacific Properties presently has an average rating of “Hold” and an average price target of $3.26.

Hudson Pacific Properties Price Performance

NYSE:HPP opened at $2.29 on Tuesday. Hudson Pacific Properties has a 52-week low of $2.00 and a 52-week high of $6.29. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market cap of $322.99 million, a P/E ratio of -0.89 and a beta of 1.30. The business’s 50-day moving average price is $2.80 and its 200 day moving average price is $3.34.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 EPS 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 net margin of 44.01% and a negative return on equity of 12.64%. As a group, sell-side analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Hudson Pacific Properties

Several hedge funds and other institutional investors have recently modified their holdings of the company. Green Alpha Advisors LLC increased its position in Hudson Pacific Properties by 77.7% in the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock worth $1,580,000 after purchasing an additional 228,079 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Hudson Pacific Properties in the 3rd quarter valued at approximately $48,000. Union Bancaire Privee UBP SA acquired a new position in Hudson Pacific Properties in the fourth quarter worth approximately $436,000. Brown University bought a new position in Hudson Pacific Properties during the fourth quarter valued at approximately $1,832,000. Finally, Helix Partners Management LP acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $579,000. 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.