Hudson Pacific Properties (NYSE:HPP) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Hudson Pacific Properties (NYSE:HPPGet Rating) from a sell rating to a hold rating in a research report released on Monday.

Several other brokerages also recently issued reports on HPP. Credit Suisse Group raised shares of Hudson Pacific Properties from an underperform rating to a neutral rating and lowered their price objective for the stock from $16.00 to $12.00 in a research report on Thursday, October 20th. Citigroup cut shares of Hudson Pacific Properties from a buy rating to a neutral rating and reduced their target price for the stock from $16.50 to $13.00 in a report on Monday, September 19th. Mizuho reduced their target price on shares of Hudson Pacific Properties from $14.00 to $12.00 and set an underperform rating for the company in a report on Wednesday, October 19th. Piper Sandler reduced their target price on shares of Hudson Pacific Properties from $17.00 to $13.00 and set a neutral rating for the company in a report on Friday, October 7th. Finally, Wells Fargo & Company reduced their target price on shares of Hudson Pacific Properties from $14.00 to $12.00 and set an equal weight rating for the company in a report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $16.82.

Hudson Pacific Properties Stock Down 0.9 %

Shares of HPP stock opened at $10.59 on Monday. The firm has a fifty day moving average of $11.15 and a 200-day moving average of $14.42. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.34. Hudson Pacific Properties has a 12-month low of $9.83 and a 12-month high of $28.66. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -42.36, a P/E/G ratio of 3.02 and a beta of 0.98.

Hudson Pacific Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Monday, September 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.44%. The ex-dividend date of this dividend was Friday, September 16th. Hudson Pacific Properties’s dividend payout ratio is presently -400.00%.

Insider Transactions at Hudson Pacific Properties

In related news, EVP Arthur X. Suazo bought 4,347 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was bought at an average price of $11.11 per share, for a total transaction of $48,295.17. Following the purchase, the executive vice president now owns 77,102 shares in the company, valued at approximately $856,603.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hudson Pacific Properties news, President Mark T. Lammas purchased 5,000 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were acquired at an average cost of $11.11 per share, with a total value of $55,550.00. Following the completion of the transaction, the president now owns 189,865 shares in the company, valued at $2,109,400.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur X. Suazo purchased 4,347 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were acquired at an average cost of $11.11 per share, for a total transaction of $48,295.17. Following the completion of the transaction, the executive vice president now owns 77,102 shares of the company’s stock, valued at approximately $856,603.22. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 38,930 shares of company stock worth $461,550. 3.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of hedge funds have recently bought and sold shares of HPP. Captrust Financial Advisors bought a new position in Hudson Pacific Properties during the second quarter worth about $33,000. Point72 Hong Kong Ltd bought a new position in Hudson Pacific Properties in the 2nd quarter valued at about $35,000. CWM LLC increased its holdings in Hudson Pacific Properties by 196.8% in the 3rd quarter. CWM LLC now owns 3,520 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 2,334 shares during the period. Quadrant Capital Group LLC increased its holdings in Hudson Pacific Properties by 404.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,515 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 4,422 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Hudson Pacific Properties in the 2nd quarter valued at about $63,000. 97.54% of the stock is owned by institutional investors.

About Hudson Pacific Properties

(Get Rating)

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

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