Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $3.50 at Piper Sandler

Hudson Pacific Properties (NYSE:HPP - Free Report) had its price objective cut by Piper Sandler from $4.50 to $3.50 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust's stock.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group reduced their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Mizuho decreased their price target on Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, Scotiabank dropped 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 note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $4.31.

Hudson Pacific Properties Stock Performance

Shares of NYSE:HPP traded up $0.22 on Monday, hitting $3.30. The company's stock had a trading volume of 3,067,681 shares, compared to its average volume of 2,778,126. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $7.20. The stock's 50-day moving average is $2.99 and its two-hundred day moving average is $3.90. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $465.36 million, a price-to-earnings ratio of -1.28 and a beta of 1.30.

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

Insider Buying and Selling at Hudson Pacific Properties

In related news, CEO Victor J. Coleman purchased 50,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the acquisition, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.92% of the company's stock.

Institutional Trading of Hudson Pacific Properties

Institutional investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its holdings in shares of Hudson Pacific Properties by 265.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust's stock valued at $30,464,000 after buying an additional 7,303,472 shares during the last quarter. Millennium Management LLC lifted its stake in Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust's stock valued at $22,374,000 after acquiring an additional 5,554,444 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Hudson Pacific Properties by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust's stock worth $17,175,000 after acquiring an additional 458,783 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Hudson Pacific Properties by 0.5% during the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust's stock worth $12,147,000 after purchasing an additional 21,320 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Hudson Pacific Properties by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust's stock valued at $10,572,000 after purchasing an additional 61,868 shares in the last quarter. 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.