Piper Sandler Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $4.50

Hudson Pacific Properties (NYSE:HPP - Get Free Report) had its price objective dropped by equities researchers at Piper Sandler from $5.00 to $4.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's target price would suggest a potential upside of 22.28% from the company's previous close.

HPP has been the topic of several other research reports. Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a "buy" rating to a "hold" rating and dropped their target price for the stock from $5.50 to $5.00 in a report on Tuesday. BMO Capital Markets cut shares of Hudson Pacific Properties from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $8.00 to $6.00 in a research note on Thursday, August 8th. Bank of America lowered their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an "underperform" rating for the company in a report on Thursday, August 22nd. Wells Fargo & Company cut their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an "equal weight" rating on the stock in a report on Wednesday, September 11th. Finally, Wolfe Research downgraded shares of Hudson Pacific Properties from an "outperform" rating to a "peer perform" rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Hudson Pacific Properties currently has a consensus rating of "Hold" and an average price target of $6.17.

Hudson Pacific Properties Price Performance

HPP traded down $0.29 during trading on Friday, reaching $3.68. The stock had a trading volume of 4,268,869 shares, compared to its average volume of 2,405,856. Hudson Pacific Properties has a 1-year low of $3.66 and a 1-year high of $9.85. The firm has a market capitalization of $519.73 million, a price-to-earnings ratio of -1.76 and a beta of 1.31. The stock has a 50 day moving average of $4.60 and a two-hundred day moving average of $4.95. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Insider Activity

In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the sale, the director now directly owns 3,713 shares of the company's stock, valued at approximately $19,307.60. This represents a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andy Wattula sold 9,356 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares of the company's stock, valued at $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company's stock.

Institutional Trading of Hudson Pacific Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in Hudson Pacific Properties by 95.7% during the first quarter. BNP Paribas Financial Markets now owns 158,549 shares of the real estate investment trust's stock worth $1,023,000 after acquiring an additional 77,553 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Hudson Pacific Properties in the first quarter valued at approximately $510,000. Texas Permanent School Fund Corp increased its holdings in Hudson Pacific Properties by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust's stock worth $715,000 after purchasing an additional 2,164 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Hudson Pacific Properties by 385.4% in the 1st quarter. SG Americas Securities LLC now owns 87,030 shares of the real estate investment trust's stock worth $561,000 after buying an additional 69,100 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in Hudson Pacific Properties by 225.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust's stock worth $1,123,000 after acquiring an additional 116,945 shares during the period. 97.58% of the stock is owned by hedge funds and other institutional investors.

Hudson Pacific Properties Company Profile

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.