Analysts Set Hudson Pacific Properties, Inc. (NYSE:HPP) Target Price at $9.05

Hudson Pacific Properties, Inc. (NYSE:HPP) has been assigned a consensus rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.05.

HPP has been the topic of several research reports. Morgan Stanley dropped their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price on the stock in a report on Monday, March 18th. BMO Capital Markets raised their target price on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Wedbush cut shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $7.50 in a research note on Tuesday, February 20th. Finally, Piper Sandler cut their price objective on shares of Hudson Pacific Properties from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $5.72 on Friday. Hudson Pacific Properties has a one year low of $4.05 and a one year high of $9.85. The company has a 50-day simple moving average of $6.34 and a two-hundred day simple moving average of $6.86. The firm has a market capitalization of $807.35 million, a PE ratio of -4.18, a price-to-earnings-growth ratio of 0.48 and a beta of 1.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.79 and a quick ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $223.42 million during the quarter, compared to the consensus estimate of $223.93 million. Hudson Pacific Properties had a negative net margin of 19.20% and a negative return on equity of 5.74%. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. On average, analysts anticipate that Hudson Pacific Properties will post 1.05 EPS for the current fiscal year.

Hudson Pacific Properties Dividend Announcement

The company also recently announced a — dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a $0.05 dividend. The ex-dividend date was Friday, March 15th. Hudson Pacific Properties’s dividend payout ratio is currently -14.60%.

Insider Buying and Selling

In other news, Director Barry A. Sholem bought 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $6.69 per share, with a total value of $267,600.00. Following the acquisition, the director now owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $7.11, for a total value of $71,100.00. Following the sale, the executive now owns 116,694 shares in the company, valued at approximately $829,694.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barry A. Sholem purchased 40,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the purchase, the director now owns 70,176 shares in the company, valued at $469,477.44. The disclosure for this purchase can be found here. 2.95% of the stock is currently owned by insiders.

Institutional Trading of Hudson Pacific Properties

Several hedge funds have recently bought and sold shares of HPP. FMR LLC lifted its stake in Hudson Pacific Properties by 6,191.3% in the 3rd quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock worth $35,869,000 after purchasing an additional 5,308,032 shares in the last quarter. Deutsche Bank AG raised its position in shares of Hudson Pacific Properties by 2,367.6% during the 3rd quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock valued at $28,469,000 after buying an additional 4,107,498 shares in the last quarter. Waterfront Capital Partners LLC purchased a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at about $22,848,000. American Assets Capital Advisers LLC purchased a new stake in shares of Hudson Pacific Properties during the 3rd quarter valued at about $13,704,000. Finally, GRS Advisors LLC purchased a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at about $18,489,000. Hedge funds and other 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.