The Goldman Sachs Group Issues Pessimistic Forecast for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP - Free Report) had its target price trimmed by The Goldman Sachs Group from $3.90 to $3.40 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust's stock.

HPP has been the subject of several other research reports. Mizuho cut their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Piper Sandler dropped their price target on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Monday. Jefferies Financial Group reduced their price target 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, Scotiabank lowered their price objective 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 investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.31.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock remained flat at $3.29 during trading hours on Tuesday. 3,586,086 shares of the company's stock traded hands, compared to its average volume of 2,798,992. The business's 50 day moving average is $2.99 and its 200-day moving average is $3.90. 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 $464.65 million, a price-to-earnings ratio of -1.28 and a beta of 1.30. Hudson Pacific Properties has a 52-week low of $2.39 and a 52-week high of $7.20.

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Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share 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 analyst estimates of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. As a group, research analysts expect that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Insider Activity

In other news, CEO Victor J. Coleman purchased 50,000 shares of the business's stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now owns 487,451 shares in the company, valued at $1,398,984.37. This trade represents a 11.43 % 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. 3.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. increased its holdings in Hudson Pacific Properties by 265.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust's stock worth $30,464,000 after buying an additional 7,303,472 shares during the last quarter. Millennium Management LLC boosted its position in shares of 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 period. Charles Schwab Investment Management Inc. lifted its stake in Hudson Pacific Properties by 8.8% in the 4th 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 purchasing an additional 458,783 shares in the last quarter. Legal & General Group Plc grew its position 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 valued at $12,147,000 after purchasing an additional 21,320 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Hudson Pacific Properties by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust's stock worth $10,572,000 after purchasing an additional 61,868 shares during the last quarter. Institutional investors 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.