Piper Sandler Lowers Hudson Pacific Properties (NYSE:HPP) Price Target to $2.50

Hudson Pacific Properties (NYSE:HPP - Get Free Report) had its price target lowered by equities researchers at Piper Sandler from $3.50 to $2.50 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's price objective would indicate a potential upside of 9.41% from the company's current price.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets raised shares of Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $4.00 to $5.00 in a report on Friday, March 28th. The Goldman Sachs Group cut their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Morgan Stanley lowered their price objective on Hudson Pacific Properties from $2.40 to $2.25 and set an "underweight" rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company upgraded Hudson Pacific Properties from an "equal weight" rating to an "overweight" rating and set a $4.00 target price for the company in a research report on Monday, March 10th. Finally, Scotiabank decreased 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 report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $3.26.

Hudson Pacific Properties Stock Performance

Hudson Pacific Properties stock traded up $0.05 during trading hours on Tuesday, hitting $2.29. The company had a trading volume of 1,883,380 shares, compared to its average volume of 2,878,048. Hudson Pacific Properties has a one year low of $2.00 and a one year high of $6.29. The firm has a market cap of $322.99 million, a PE ratio of -0.89 and a beta of 1.30. The firm has a 50-day moving average of $2.79 and a 200 day moving average of $3.31. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Stifel Financial Corp acquired a new stake in Hudson Pacific Properties during the 3rd quarter worth approximately $48,000. Public Employees Retirement System of Ohio increased its holdings in Hudson Pacific Properties by 11.7% in the third quarter. Public Employees Retirement System of Ohio now owns 212,406 shares of the real estate investment trust's stock valued at $1,015,000 after purchasing an additional 22,167 shares during the period. Barclays PLC raised its position in Hudson Pacific Properties by 120.9% during the 3rd quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust's stock worth $1,168,000 after purchasing an additional 133,673 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Hudson Pacific Properties by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust's stock worth $16,381,000 after buying an additional 154,101 shares during the period. Finally, Green Alpha Advisors LLC lifted its holdings in Hudson Pacific Properties by 77.7% during the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust's stock worth $1,580,000 after buying an additional 228,079 shares during the period. 97.58% of the stock is currently owned by 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.