Hudson Pacific Properties, Inc. (NYSE:HPP) Receives Consensus Recommendation of "Hold" from 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 presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $3.2182.

HPP has been the topic of a number of recent analyst reports. BMO Capital Markets cut 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. Piper Sandler set a $2.00 price objective on Hudson Pacific Properties and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Odeon Capital Group assumed 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. The Goldman Sachs Group dropped their price target 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. Finally, BTIG Research dropped their price target on Hudson Pacific Properties from $8.00 to $4.75 and set a "buy" rating on the stock in a research note on Wednesday, June 25th.

Hudson Pacific Properties Stock Performance

Shares of HPP stock opened at $2.62 on Thursday. The business's 50-day moving average price is $2.62 and its 200-day moving average price is $2.60. Hudson Pacific Properties has a 12 month low of $1.78 and a 12 month high of $5.69. The firm has a market capitalization of $993.37 million, a price-to-earnings ratio of -0.93 and a beta of 1.59. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.17.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced 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. Hudson Pacific Properties had a negative return on equity of 15.10% and a negative net margin of 53.76%. The firm had revenue of $190.00 million for the quarter, compared to analyst estimates of $196.27 million. Equities research analysts forecast that Hudson Pacific Properties will post 0.45 EPS for the current year.

Insider Activity

In other news, CEO Victor J. Coleman acquired 224,215 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was purchased at an average price of $2.23 per share, for a total transaction of $499,999.45. Following the completion of the acquisition, the chief executive officer directly owned 711,666 shares in the company, valued at $1,587,015.18. The trade was a 46.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ted R. Antenucci acquired 89,686 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were purchased at an average price of $2.23 per share, with a total value of $199,999.78. Following the acquisition, the director owned 254,934 shares of the company's stock, valued at approximately $568,502.82. This represents a 54.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,139,007 shares of company stock valued at $2,539,986. Corporate insiders own 4.92% of the company's stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds and other institutional investors have recently modified their holdings of the company. Resona Asset Management Co. Ltd. increased its holdings in shares of Hudson Pacific Properties by 8.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 62,503 shares of the real estate investment trust's stock valued at $186,000 after acquiring an additional 5,051 shares in the last quarter. Winslow Asset Management Inc. grew its holdings in Hudson Pacific Properties by 15.8% during the first quarter. Winslow Asset Management Inc. now owns 49,030 shares of the real estate investment trust's stock worth $145,000 after buying an additional 6,685 shares in the last quarter. Metis Global Partners LLC raised its position in Hudson Pacific Properties by 43.8% in the 2nd quarter. Metis Global Partners LLC now owns 23,273 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 7,090 shares during the last quarter. Ballentine Partners LLC raised its position in Hudson Pacific Properties by 52.0% in the 2nd quarter. Ballentine Partners LLC now owns 22,492 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 7,690 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Hudson Pacific Properties by 71.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 18,674 shares of the real estate investment trust's stock valued at $57,000 after buying an additional 7,807 shares during the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.