Hudson Pacific Properties (NYSE:HPP) Price Target Cut to $10.00 by Analysts at Morgan Stanley

Hudson Pacific Properties (NYSE:HPPGet Rating) had its target price decreased by Morgan Stanley from $13.00 to $10.00 in a report released on Wednesday, The Fly reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective would suggest a potential downside of 8.76% from the company’s current price.

Several other analysts have also issued reports on HPP. Citigroup lowered Hudson Pacific Properties from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.50 to $13.00 in a report on Monday, September 19th. Wells Fargo & Company dropped their target price on Hudson Pacific Properties from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 18th. BTIG Research lowered Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 19th. Credit Suisse Group upgraded Hudson Pacific Properties from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $12.00 in a research note on Thursday, October 20th. Finally, Mizuho dropped their price objective on Hudson Pacific Properties from $14.00 to $12.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 19th. One equities 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 data from MarketBeat, Hudson Pacific Properties presently has an average rating of “Hold” and an average target price of $16.55.

Hudson Pacific Properties Stock Performance

HPP opened at $10.96 on Wednesday. Hudson Pacific Properties has a 52-week low of $9.83 and a 52-week high of $28.66. The firm has a market capitalization of $1.54 billion, a PE ratio of -43.84, a PEG ratio of 3.09 and a beta of 0.98. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.40 and a current ratio of 1.40. The business’s 50-day simple moving average is $10.99 and its 200 day simple moving average is $14.30.

Insider Activity

In other news, Director Jonathan M. Glaser bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were bought at an average price of $12.28 per share, with a total value of $245,600.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $264,020. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jonathan M. Glaser bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were bought at an average price of $12.28 per share, with a total value of $245,600.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $264,020. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark David Linehan purchased 7,500 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, September 23rd. The shares were bought at an average cost of $11.67 per share, for a total transaction of $87,525.00. Following the transaction, the director now directly owns 60,687 shares of the company’s stock, valued at $708,217.29. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 38,930 shares of company stock valued at $461,550. 3.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently added to or reduced their stakes in HPP. Mutual of America Capital Management LLC grew its position in Hudson Pacific Properties by 2.0% during the first quarter. Mutual of America Capital Management LLC now owns 139,050 shares of the real estate investment trust’s stock worth $3,859,000 after buying an additional 2,667 shares in the last quarter. FDx Advisors Inc. grew its position in Hudson Pacific Properties by 26.5% during the first quarter. FDx Advisors Inc. now owns 18,455 shares of the real estate investment trust’s stock worth $512,000 after buying an additional 3,867 shares in the last quarter. abrdn plc grew its position in Hudson Pacific Properties by 3.2% during the first quarter. abrdn plc now owns 33,097 shares of the real estate investment trust’s stock worth $935,000 after buying an additional 1,041 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Hudson Pacific Properties by 54.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 395,947 shares of the real estate investment trust’s stock valued at $10,988,000 after purchasing an additional 139,137 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Hudson Pacific Properties by 5.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,407,550 shares of the real estate investment trust’s stock valued at $38,900,000 after purchasing an additional 71,568 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

About Hudson Pacific Properties

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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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