Hudson Pacific Properties (NYSE:HPP) PT Lowered to $7.00

Hudson Pacific Properties (NYSE:HPP - Free Report) had its price target lowered by The Goldman Sachs Group from $9.00 to $7.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

Other equities analysts have also issued reports about the company. Morgan Stanley cut their target price on Hudson Pacific Properties from $7.00 to $6.00 and set an equal weight rating on the stock in a research report on Thursday, March 28th. Wolfe Research raised shares of Hudson Pacific Properties from a peer perform rating to an outperform rating and set a $8.40 target price for the company in a research report on Monday, March 18th. Piper Sandler restated an overweight rating and issued a $7.00 target price (down previously from $9.00) on shares of Hudson Pacific Properties in a research note on Friday. Finally, Wedbush downgraded Hudson Pacific Properties from an outperform rating to a neutral rating and decreased their price target for the stock from $11.00 to $7.50 in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $8.49.

Hudson Pacific Properties Stock Down 3.9 %

NYSE:HPP traded down $0.21 during mid-day trading on Tuesday, hitting $5.22. The company had a trading volume of 1,876,522 shares, compared to its average volume of 2,618,077. The business has a fifty day simple moving average of $6.22 and a 200-day simple moving average of $6.87. The firm has a market capitalization of $736.80 million, a price-to-earnings ratio of -3.37, a PEG ratio of 0.46 and a beta of 1.31. Hudson Pacific Properties has a 1 year low of $4.05 and a 1 year high of $9.85. The company has a current ratio of 1.85, a quick ratio of 1.79 and a debt-to-equity ratio of 1.38.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced its earnings results on Monday, February 12th. The real estate investment trust reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The business had revenue of $223.42 million for the quarter, compared to the consensus estimate of $223.93 million. During the same period last year, the business posted $0.49 EPS. The company's revenue was down 17.2% on a year-over-year basis. Equities analysts forecast that Hudson Pacific Properties will post 1.05 earnings per share for the current fiscal year.

Hudson Pacific Properties Announces Dividend

The business also recently declared a -- dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties's payout ratio is -12.50%.

Insider Buying and Selling

In related news, Director Barry A. Sholem acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the purchase, the director now directly owns 70,176 shares in the company, valued at $469,477.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CIO Drew Gordon sold 10,000 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.11, for a total transaction of $71,100.00. Following the completion of the transaction, the executive now directly owns 116,694 shares in the company, valued at approximately $829,694.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Barry A. Sholem acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average price of $6.69 per share, with a total value of $267,600.00. Following the completion of the purchase, the director now owns 70,176 shares in the company, valued at $469,477.44. The disclosure for this purchase can be found here. Company insiders own 3.92% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HPP. Texas Permanent School Fund Corp boosted its position in Hudson Pacific Properties by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust's stock worth $715,000 after acquiring an additional 2,164 shares during the period. Tower Research Capital LLC TRC boosted its position in Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust's stock worth $72,000 after acquiring an additional 2,286 shares during the period. Van ECK Associates Corp boosted its position in Hudson Pacific Properties by 17.2% during the 3rd quarter. Van ECK Associates Corp now owns 18,165 shares of the real estate investment trust's stock worth $121,000 after acquiring an additional 2,661 shares during the period. Swiss National Bank lifted its holdings in shares of Hudson Pacific Properties by 1.0% in the third quarter. Swiss National Bank now owns 278,750 shares of the real estate investment trust's stock valued at $1,854,000 after buying an additional 2,700 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in shares of Hudson Pacific Properties by 9.4% in the fourth quarter. Natixis Advisors L.P. now owns 33,247 shares of the real estate investment trust's stock valued at $309,000 after buying an additional 2,852 shares during the period. 97.58% of the stock is currently owned by institutional investors.

Hudson Pacific Properties Company Profile

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.