Hudson Pacific Properties (NYSE:HPP) Receives "Overweight" Rating from Piper Sandler

Hudson Pacific Properties (NYSE:HPP - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $7.00 price objective on the real estate investment trust's stock, down from their previous price objective of $9.00. Piper Sandler's price objective points to a potential upside of 26.93% from the company's current price.

Several other equities analysts have also commented on the company. Wedbush lowered Hudson Pacific Properties from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $11.00 to $7.50 in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their price target on Hudson Pacific Properties from $7.10 to $10.60 and gave the company a "neutral" rating in a research report on Thursday, January 11th. Morgan Stanley lowered their price target on Hudson Pacific Properties from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Thursday, March 28th. Wolfe Research raised Hudson Pacific Properties from a "peer perform" rating to an "outperform" rating and set a $8.40 price target for the company in a research report on Monday, March 18th. Finally, BMO Capital Markets boosted their price target on Hudson Pacific Properties from $12.00 to $13.00 and gave the company an "outperform" rating in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $8.85.

Hudson Pacific Properties Trading Up 1.4 %

Hudson Pacific Properties stock traded up $0.07 during trading on Friday, hitting $5.52. The company's stock had a trading volume of 2,943,871 shares, compared to its average volume of 2,635,238. The stock has a market capitalization of $778.44 million, a price-to-earnings ratio of -3.69, a P/E/G ratio of 0.48 and a beta of 1.31. The stock's fifty day moving average is $6.26 and its 200 day moving average is $6.85. Hudson Pacific Properties has a 1-year low of $4.05 and a 1-year high of $9.85. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.79 and a current ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last released 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. The firm had revenue of $223.42 million during the quarter, compared to analyst estimates of $223.93 million. Hudson Pacific Properties had a negative return on equity of 6.80% and a negative net margin of 23.48%. The business's quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. As a group, equities research analysts predict that Hudson Pacific Properties will post 1.05 EPS for the current year.

Insider Transactions at Hudson Pacific Properties

In related news, CIO Drew Gordon sold 10,000 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the transaction, the executive now owns 116,694 shares in the company, valued at $829,694.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Hudson Pacific Properties news, Director Barry A. Sholem purchased 40,000 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the purchase, the director now owns 70,176 shares in the company, valued at approximately $469,477.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CIO Drew Gordon sold 10,000 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the transaction, the executive now owns 116,694 shares in the company, valued at approximately $829,694.34. The disclosure for this sale can be found here. Company insiders own 2.95% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HPP. Bank of New York Mellon Corp grew its position in shares of Hudson Pacific Properties by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,476,997 shares of the real estate investment trust's stock worth $9,822,000 after acquiring an additional 26,993 shares in the last quarter. Strs Ohio grew its position in shares of Hudson Pacific Properties by 195.9% in the 3rd quarter. Strs Ohio now owns 447,600 shares of the real estate investment trust's stock worth $2,976,000 after acquiring an additional 296,327 shares in the last quarter. Sage Rhino Capital LLC acquired a new position in shares of Hudson Pacific Properties in the 3rd quarter worth approximately $67,000. Jennison Associates LLC acquired a new position in shares of Hudson Pacific Properties in the 3rd quarter worth approximately $820,000. Finally, Optas LLC acquired a new position in shares of Hudson Pacific Properties in the 3rd quarter worth approximately $67,000. 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.