Hudson Pacific Properties (NYSE:HPP) Given New $3.00 Price Target at Mizuho

Hudson Pacific Properties (NYSE:HPP - Free Report) had its price target lowered by Mizuho from $5.00 to $3.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

A number of other brokerages have also recently weighed in on HPP. Piper Sandler dropped their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Jefferies Financial Group dropped their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an "equal weight" rating for the company in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.08.

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP traded down $0.06 during midday trading on Tuesday, hitting $2.75. The company's stock had a trading volume of 3,574,303 shares, compared to its average volume of 2,671,476. The firm has a market cap of $388.39 million, a P/E ratio of -1.32 and a beta of 1.30. Hudson Pacific Properties has a 1-year low of $2.39 and a 1-year high of $9.80. The firm's fifty day moving average price is $3.51 and its 200-day moving average price is $4.47. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26.

Insider Activity

In other news, CEO Victor J. Coleman acquired 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $2.87 per share, with a total value of $143,500.00. Following the completion of the transaction, the chief executive officer now owns 487,451 shares in the company, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.95% of the company's stock.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anthracite Investment Company Inc. acquired a new stake in shares of Hudson Pacific Properties in the third quarter valued at approximately $1,320,000. Wolverine Asset Management LLC lifted its position in Hudson Pacific Properties by 42.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust's stock worth $2,755,000 after buying an additional 171,424 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Hudson Pacific Properties during the 3rd quarter worth about $1,332,000. Millennium Management LLC grew its holdings in shares of Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust's stock valued at $8,594,000 after acquiring an additional 1,319,869 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Hudson Pacific Properties in the third quarter valued at about $48,000. 97.58% of the stock is 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.