Hudson Pacific Properties, Inc. (NYSE:HPP) Receives $3.22 Consensus PT from Analysts

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) have earned a consensus recommendation of "Hold" from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.22.

HPP has been the topic of several research reports. The Goldman Sachs Group reduced their price target on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating for the company in a research note on Monday, May 19th. Piper Sandler set a $2.00 price objective on Hudson Pacific Properties and gave the company a "neutral" rating in a research note on Friday, May 23rd. BMO Capital Markets lowered their price objective on Hudson Pacific Properties from $4.00 to $3.50 and set an "outperform" rating for the company in a research note on Friday, June 13th. Finally, Odeon Capital Group assumed coverage on shares of Hudson Pacific Properties in a research report on Monday, June 16th. They set a "buy" rating and a $5.00 price objective on the stock.

Insider Buying and Selling at Hudson Pacific Properties

In related news, EVP Arthur X. Suazo acquired 22,421 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average cost of $2.23 per share, with a total value of $49,998.83. Following the transaction, the executive vice president directly owned 115,123 shares of the company's stock, valued at $256,724.29. This trade represents a 24.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ted R. Antenucci acquired 89,686 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was bought at an average cost of $2.23 per share, with a total value of $199,999.78. Following the completion of the transaction, the director directly owned 254,934 shares in the company, valued at $568,502.82. The trade was a 54.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,139,007 shares of company stock valued at $2,539,986. 4.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of institutional investors have recently bought and sold shares of HPP. Millennium Management LLC increased its holdings in shares of Hudson Pacific Properties by 303.5% during the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust's stock valued at $22,374,000 after purchasing an additional 5,554,444 shares in the last quarter. Bank of America Corp DE boosted its stake in Hudson Pacific Properties by 113.8% during the 4th quarter. Bank of America Corp DE now owns 1,129,267 shares of the real estate investment trust's stock worth $3,422,000 after purchasing an additional 601,074 shares during the last quarter. Helix Partners Management LP acquired a new position in shares of Hudson Pacific Properties during the 4th quarter valued at about $579,000. Renaissance Technologies LLC boosted its position in shares of Hudson Pacific Properties by 9.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,390,009 shares of the real estate investment trust's stock valued at $4,212,000 after acquiring an additional 117,600 shares during the last quarter. Finally, DigitalBridge Group Inc. acquired a new position in shares of Hudson Pacific Properties during the 4th quarter valued at about $2,199,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

Hudson Pacific Properties Stock Up 0.6%

HPP stock traded up $0.02 during trading on Friday, hitting $2.59. 3,586,479 shares of the stock traded hands, compared to its average volume of 4,186,464. Hudson Pacific Properties has a 1 year low of $1.78 and a 1 year high of $6.29. The firm's 50 day moving average is $2.45 and its two-hundred day moving average is $2.64. The stock has a market cap of $365.49 million, a price-to-earnings ratio of -0.95 and a beta of 1.56. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.79 and a quick ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its earnings results 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. Hudson Pacific Properties had a negative net margin of 47.56% and a negative return on equity of 14.12%. The business had revenue of $198.46 million for the quarter, compared to analysts' expectations of $199.95 million. On average, sell-side analysts anticipate that Hudson Pacific Properties will post 0.45 EPS for the current year.

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.