The Goldman Sachs Group Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP - Get Free Report) had its price target dropped by investment analysts at The Goldman Sachs Group from $3.40 to $2.30 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. The Goldman Sachs Group's price objective indicates a potential upside of 4.07% from the company's previous close.

Several other analysts have also recently weighed in on HPP. Morgan Stanley restated an "underweight" rating and set a $1.75 price target on shares of Hudson Pacific Properties in a report on Tuesday, April 15th. BMO Capital Markets raised shares of Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $4.00 to $5.00 in a report on Friday, March 28th. Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $3.50 to $2.50 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group assumed coverage on shares of Hudson Pacific Properties in a report on Monday, March 17th. They set a "hold" rating and a $2.70 price target on the stock. Finally, Mizuho decreased their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of "Hold" and an average price target of $3.14.

Hudson Pacific Properties Price Performance

Shares of HPP traded down $0.03 during mid-day trading on Tuesday, reaching $2.21. The company had a trading volume of 1,735,411 shares, compared to its average volume of 2,877,138. The company's 50 day simple moving average is $2.72 and its 200 day simple moving average is $3.23. The company has a market capitalization of $312.39 million, a price-to-earnings ratio of -0.86 and a beta of 1.30. Hudson Pacific Properties has a 1-year low of $2.00 and a 1-year high of $6.29. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. Analysts expect that Hudson Pacific Properties will post 0.45 EPS for the current year.

Hedge Funds Weigh In On Hudson Pacific Properties

Several institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. lifted its position in shares of Hudson Pacific Properties by 265.5% during the 4th 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 acquiring an additional 7,303,472 shares during the period. Millennium Management LLC raised its holdings in shares of Hudson Pacific Properties by 303.5% during the fourth 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 during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Hudson Pacific Properties by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust's stock worth $17,175,000 after purchasing an additional 458,783 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Hudson Pacific Properties by 0.5% in the 4th 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. Finally, Geode Capital Management LLC increased its position in Hudson Pacific Properties by 1.8% in the 4th 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 in the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

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.