Hudson Pacific Properties (NYSE:HPP) Given New $2.00 Price Target at Piper Sandler

Hudson Pacific Properties (NYSE:HPP - Get Free Report) had its price objective decreased by equities research analysts at Piper Sandler from $2.50 to $2.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's target price indicates a potential upside of 8.99% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets raised shares of Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $4.00 to $5.00 in a research report on Friday, March 28th. BTIG Research set a $8.00 price objective on Hudson Pacific Properties and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Morgan Stanley reissued an "underweight" rating and set a $1.75 price target on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. Wedbush reaffirmed a "neutral" rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Finally, Scotiabank cut their price target on 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $3.52.

Hudson Pacific Properties Stock Down 4.4%

HPP stock opened at $1.84 on Friday. Hudson Pacific Properties has a twelve month low of $1.83 and a twelve month high of $6.29. The stock's 50 day moving average is $2.39 and its 200-day moving average is $2.93. 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 capitalization of $259.45 million, a PE ratio of -0.71 and a beta of 1.48.

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, hitting the consensus estimate of $0.09. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. The firm had revenue of $198.46 million for the quarter, compared to the consensus estimate of $199.95 million. Sell-side analysts expect that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors have recently bought and sold shares of HPP. Balyasny Asset Management L.P. lifted its stake in Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust's stock valued at $30,464,000 after buying an additional 7,303,472 shares during the last quarter. Millennium Management LLC grew its stake 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 worth $22,374,000 after purchasing an additional 5,554,444 shares during the period. Nuveen LLC acquired a new position in Hudson Pacific Properties during the first quarter worth about $10,333,000. Conversant Capital LLC purchased a new position in Hudson Pacific Properties in the 1st quarter valued at approximately $8,019,000. Finally, Alta Fundamental Advisers LLC purchased a new position in shares of Hudson Pacific Properties in the first quarter valued at $5,622,000. 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.

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