Hudson Pacific Properties (NYSE:HPP) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hudson Pacific Properties (NYSE:HPP) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring office properties and media and entertainment properties in select growth markets primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company is headquartered in Los Angeles, California. “

HPP has been the topic of several other reports. ValuEngine raised shares of Hudson Pacific Properties from a sell rating to a hold rating in a research note on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of Hudson Pacific Properties from $34.00 to $39.00 and gave the company an overweight rating in a research note on Friday, December 13th. Mizuho assumed coverage on shares of Hudson Pacific Properties in a research note on Monday, February 3rd. They set a buy rating and a $42.00 target price on the stock. Finally, Goldman Sachs Group assumed coverage on shares of Hudson Pacific Properties in a research note on Friday, November 8th. They set a buy rating and a $41.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $40.57.

NYSE HPP opened at $32.28 on Tuesday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 119.56, a P/E/G ratio of 2.52 and a beta of 0.71. Hudson Pacific Properties has a 1 year low of $31.44 and a 1 year high of $38.81. The business’s fifty day moving average is $36.86 and its two-hundred day moving average is $35.33. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.02 and a current ratio of 1.25.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.44). The company had revenue of $193.80 million during the quarter, compared to the consensus estimate of $215.22 million. Hudson Pacific Properties had a net margin of 5.52% and a return on equity of 1.21%. Hudson Pacific Properties’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. On average, research analysts forecast that Hudson Pacific Properties will post 2.18 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Hudson Pacific Properties by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 141,282 shares of the real estate investment trust’s stock valued at $4,727,000 after acquiring an additional 1,541 shares in the last quarter. Dupont Capital Management Corp grew its holdings in shares of Hudson Pacific Properties by 54.6% during the 3rd quarter. Dupont Capital Management Corp now owns 65,382 shares of the real estate investment trust’s stock valued at $2,188,000 after acquiring an additional 23,101 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Hudson Pacific Properties by 20.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,464 shares of the real estate investment trust’s stock valued at $7,076,000 after acquiring an additional 35,737 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Hudson Pacific Properties by 18.2% during the 3rd quarter. California Public Employees Retirement System now owns 391,312 shares of the real estate investment trust’s stock valued at $13,093,000 after acquiring an additional 60,300 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Hudson Pacific Properties by 5.4% during the 3rd quarter. Comerica Bank now owns 7,784 shares of the real estate investment trust’s stock valued at $267,000 after acquiring an additional 398 shares in the last quarter.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. 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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