Hudson Pacific Properties, Inc. (NYSE:HPP) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Hudson Pacific Properties (NYSE:HPP) has a consensus rating of "Hold" from analysts, with two sell recommendations, six holds, and four buys, averaging a price target of $3.22.
• The company's stock price opened at $2.62, with a 12-month range between $1.78 and $5.69, and a market cap of approximately $993.37 million.
• CEO Victor J. Coleman increased his stake in the company by acquiring 224,215 shares, raising his total ownership to 711,666 shares amid recent insider buying activity.

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) have received a consensus rating of "Hold" from the twelve ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $3.2182.

A number of brokerages have recently commented on HPP. Piper Sandler set a $2.00 price target on Hudson Pacific Properties and gave the company a "neutral" rating in a report on Friday, May 23rd. Odeon Capital Group began coverage on Hudson Pacific Properties in a research note on Monday, June 16th. They issued a "buy" rating and a $5.00 price objective on the stock. BMO Capital Markets dropped their price objective on Hudson Pacific Properties from $4.00 to $3.50 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Wedbush reissued a "neutral" rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price objective on Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd.

Hudson Pacific Properties Stock Performance

Shares of HPP traded down $0.02 during trading hours on Thursday, reaching $2.68. 1,416,143 shares of the company's stock traded hands, compared to its average volume of 4,982,780. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -0.95 and a beta of 1.59. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.18 and a quick ratio of 2.18. Hudson Pacific Properties has a twelve month low of $1.78 and a twelve month high of $5.69. The business's fifty day simple moving average is $2.63 and its two-hundred day simple moving average is $2.59.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $190.00 million for the quarter, compared to analyst estimates of $196.27 million. Hudson Pacific Properties had a negative return on equity of 15.10% and a negative net margin of 53.76%. Analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ted R. Antenucci purchased 89,686 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was acquired at an average price of $2.23 per share, for a total transaction of $199,999.78. Following the transaction, the director directly owned 254,934 shares of the company's stock, valued at $568,502.82. This trade represents a 54.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barry A. Sholem purchased 224,215 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was bought at an average price of $2.23 per share, with a total value of $499,999.45. Following the transaction, the director directly owned 400,743 shares in the company, valued at $893,656.89. This trade represents a 127.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,139,007 shares of company stock worth $2,539,986 over the last three months. Company insiders own 3.92% of the company's stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of hedge funds and other institutional investors have recently modified their holdings of HPP. JPMorgan Chase & Co. raised its position in Hudson Pacific Properties by 257.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,322,827 shares of the real estate investment trust's stock valued at $4,008,000 after buying an additional 952,393 shares during the period. Geode Capital Management LLC raised its position in Hudson Pacific Properties by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust's stock valued at $10,572,000 after buying an additional 61,868 shares during the period. Wells Fargo & Company MN raised its position in Hudson Pacific Properties by 24.2% during the fourth quarter. Wells Fargo & Company MN now owns 91,305 shares of the real estate investment trust's stock valued at $277,000 after buying an additional 17,813 shares during the period. Envestnet Asset Management Inc. raised its position in Hudson Pacific Properties by 15.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 65,672 shares of the real estate investment trust's stock valued at $199,000 after buying an additional 8,775 shares during the period. Finally, Legal & General Group Plc raised its position in Hudson Pacific Properties by 0.5% during the fourth quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust's stock valued at $12,147,000 after buying an additional 21,320 shares during the period. Institutional investors and hedge funds own 97.58% of the company's stock.

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.