Hudson Pacific Properties (NYSE:HPP) Price Target Cut to $3.00 by Analysts at Scotiabank

Hudson Pacific Properties (NYSE:HPP - Get Free Report) had its price objective decreased by equities research analysts at Scotiabank from $4.00 to $3.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target indicates a potential downside of 0.50% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group decreased their target price on shares of 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. Piper Sandler reduced their price target on shares of 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. Finally, Mizuho reduced 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 research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties has an average rating of "Hold" and an average price target of $4.54.

Hudson Pacific Properties Trading Down 3.1 %

NYSE HPP traded down $0.10 during trading hours on Tuesday, reaching $3.02. The company had a trading volume of 3,386,495 shares, compared to its average volume of 2,799,718. The stock has a 50-day moving average of $2.98 and a 200 day moving average of $3.97. Hudson Pacific Properties has a 1-year low of $2.39 and a 1-year high of $7.20. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $425.81 million, a P/E ratio of -1.44 and a beta of 1.30.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its earnings results 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. Hudson Pacific Properties had a negative net margin of 33.39% and a negative return on equity of 9.64%. The company had revenue of $209.67 million for the quarter, compared to analysts' expectations of $207.95 million. As a group, research analysts anticipate that Hudson Pacific Properties will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Hudson Pacific Properties

In other news, CEO Victor J. Coleman bought 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $3.53 per share, with a total value of $176,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 437,451 shares in the company, valued at $1,544,202.03. The trade was a 12.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Several hedge funds have recently added to or reduced their stakes in the stock. DigitalBridge Group Inc. purchased a new position in Hudson Pacific Properties in the fourth quarter valued at approximately $2,199,000. Alpine Global Management LLC purchased a new position in Hudson Pacific Properties in the fourth quarter valued at approximately $185,000. Two Sigma Advisers LP increased its stake in Hudson Pacific Properties by 98.1% in the fourth quarter. Two Sigma Advisers LP now owns 631,800 shares of the real estate investment trust's stock valued at $1,914,000 after purchasing an additional 312,900 shares during the last quarter. Two Sigma Investments LP increased its stake in Hudson Pacific Properties by 103.2% in the fourth quarter. Two Sigma Investments LP now owns 1,192,633 shares of the real estate investment trust's stock valued at $3,614,000 after purchasing an additional 605,759 shares during the last quarter. Finally, Saba Capital Management L.P. increased its stake in Hudson Pacific Properties by 105.2% in the fourth quarter. Saba Capital Management L.P. now owns 1,790,762 shares of the real estate investment trust's stock valued at $5,426,000 after purchasing an additional 918,045 shares during the last quarter. 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.