Hudson Pacific Properties (NYSE:HPP) Given New $5.50 Price Target at The Goldman Sachs Group

Hudson Pacific Properties (NYSE:HPP) had its price target boosted by The Goldman Sachs Group from $5.00 to $5.50 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 20.29% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. StockNews.com initiated coverage on shares of Hudson Pacific Properties in a research report on Saturday, August 19th. They issued a “sell” rating on the stock. Piper Sandler upgraded Hudson Pacific Properties from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $6.00 to $9.00 in a report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and a consensus price target of $8.28.

Hudson Pacific Properties Trading Up 3.0 %

HPP traded up $0.20 during trading on Tuesday, hitting $6.90. The company’s stock had a trading volume of 415,778 shares, compared to its average volume of 3,831,762. Hudson Pacific Properties has a twelve month low of $4.05 and a twelve month high of $12.58. The stock has a market cap of $972.49 million, a PE ratio of -11.26 and a beta of 1.07. The firm’s 50 day moving average price is $6.20 and its 200-day moving average price is $5.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.61 and a quick ratio of 1.61.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.49). Hudson Pacific Properties had a negative net margin of 7.74% and a negative return on equity of 2.41%. The business had revenue of $245.17 million during the quarter, compared to analyst estimates of $237.63 million. On average, analysts expect that Hudson Pacific Properties will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds have recently modified their holdings of HPP. BlackRock Inc. raised its stake in shares of Hudson Pacific Properties by 0.6% during the second quarter. BlackRock Inc. now owns 24,343,532 shares of the real estate investment trust’s stock valued at $102,730,000 after purchasing an additional 148,537 shares during the period. Vanguard Group Inc. increased its stake in Hudson Pacific Properties by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 22,183,249 shares of the real estate investment trust’s stock worth $615,584,000 after buying an additional 160,204 shares during the period. Norges Bank acquired a new position in Hudson Pacific Properties in the 4th quarter worth $101,242,000. State Street Corp boosted its position in Hudson Pacific Properties by 10.6% in the 2nd quarter. State Street Corp now owns 9,164,405 shares of the real estate investment trust’s stock valued at $38,674,000 after buying an additional 875,483 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Hudson Pacific Properties by 265.6% during the first quarter. Prudential Financial Inc. now owns 5,690,962 shares of the real estate investment trust’s stock valued at $37,845,000 after acquiring an additional 4,134,472 shares in 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.