Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $3.50 at BMO Capital Markets

Hudson Pacific Properties (NYSE:HPP - Get Free Report) had its target price lowered by equities researchers at BMO Capital Markets from $4.00 to $3.50 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. BMO Capital Markets' price target would suggest a potential upside of 26.58% from the company's previous close.

Several other equities analysts also recently weighed in on HPP. Scotiabank decreased their price target on shares of 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. BTIG Research set a $8.00 price target on shares of Hudson Pacific Properties and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Piper Sandler set a $2.00 price target on shares of Hudson Pacific Properties and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company decreased their price target on shares of Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, Wedbush reissued a "neutral" rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $3.37.

Hudson Pacific Properties Price Performance

HPP traded up $0.09 during midday trading on Friday, hitting $2.77. 25,537,942 shares of the company traded hands, compared to its average volume of 3,260,759. 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 company has a market capitalization of $390.95 million, a price-to-earnings ratio of -1.08 and a beta of 1.43. Hudson Pacific Properties has a 52-week low of $1.78 and a 52-week high of $6.29. The business has a 50 day simple moving average of $2.18 and a two-hundred day simple moving average of $2.74.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $198.46 million for the quarter, compared to the consensus estimate of $199.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. On average, equities analysts forecast that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of institutional investors have recently bought and sold shares of HPP. GeoWealth Management LLC purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at approximately $27,000. US Bancorp DE increased its stake in Hudson Pacific Properties by 1,053.7% during the 1st quarter. US Bancorp DE now owns 9,772 shares of the real estate investment trust's stock worth $29,000 after buying an additional 8,925 shares during the period. Xponance Inc. purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at approximately $30,000. Cibc World Markets Corp purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at approximately $39,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at approximately $40,000. 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.