Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $2.25 at Morgan Stanley

Hudson Pacific Properties (NYSE:HPP - Get Free Report) had its price target cut by research analysts at Morgan Stanley from $2.40 to $2.25 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the real estate investment trust's stock. Morgan Stanley's target price would indicate a potential downside of 24.87% from the company's previous close.

A number of other research firms have also recently commented on HPP. Mizuho lowered their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a report on Monday. They set a "hold" rating and a $2.70 target price on the stock. Piper Sandler lowered their target price on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Monday, February 24th. Wells Fargo & Company raised shares of Hudson Pacific Properties from an "equal weight" rating to an "overweight" rating and set a $4.00 price target on the stock in a report on Monday, March 10th. Finally, The Goldman Sachs Group decreased their price target on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $4.03.

Remove Ads

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP traded down $0.04 during midday trading on Tuesday, reaching $3.00. The company's stock had a trading volume of 691,087 shares, compared to its average volume of 2,691,891. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $6.82. The firm has a 50 day moving average price of $3.00 and a 200-day moving average price of $3.71. The stock has a market capitalization of $423.35 million, a P/E ratio of -1.16 and a beta of 1.31. 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 posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $209.67 million for the quarter, compared to analysts' expectations of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. As a group, equities analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Insider Buying and Selling

In other Hudson Pacific Properties news, CEO Victor J. Coleman purchased 50,000 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.95% of the stock is owned by company insiders.

Institutional Trading of Hudson Pacific Properties

Several institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its holdings in shares of Hudson Pacific Properties by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust's stock worth $529,000 after purchasing an additional 5,448 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Hudson Pacific Properties by 16.8% during the third quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust's stock worth $222,000 after purchasing an additional 6,704 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Hudson Pacific Properties by 71.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 18,674 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 7,807 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Hudson Pacific Properties by 15.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 65,672 shares of the real estate investment trust's stock worth $199,000 after purchasing an additional 8,775 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in shares of Hudson Pacific Properties by 56.2% during the third quarter. Bridgewater Associates LP now owns 24,590 shares of the real estate investment trust's stock worth $118,000 after purchasing an additional 8,844 shares during the period. 97.58% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.