Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $3.40 at The Goldman Sachs Group

Hudson Pacific Properties (NYSE:HPP) had its price objective decreased by The Goldman Sachs Group from $3.90 to $3.40 in a research report report published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the stock. Mizuho decreased their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday. Scotiabank cut their target price on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Finally, Jefferies Financial Group cut their target price on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.31.

Hudson Pacific Properties Trading Up 1.2 %

HPP stock opened at $3.07 on Tuesday. The company has a market capitalization of $432.87 million, a PE ratio of -1.19 and a beta of 1.30. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $7.20. The company’s 50 day moving average price is $2.97 and its two-hundred day moving average price is $3.91. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $209.67 million for the quarter, compared to the consensus estimate of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. As a group, analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Insider Activity at Hudson Pacific Properties

In related news, CEO Victor J. Coleman acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the purchase, the chief executive officer now owns 487,451 shares in the company, valued at $1,398,984.37. The trade was a 11.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Anthracite Investment Company Inc. bought a new position in Hudson Pacific Properties in the 3rd quarter worth approximately $1,320,000. Green Alpha Advisors LLC raised its holdings in shares of Hudson Pacific Properties by 77.7% during the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock worth $1,580,000 after acquiring an additional 228,079 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Hudson Pacific Properties by 42.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock worth $2,755,000 after acquiring an additional 171,424 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Hudson Pacific Properties during the 3rd quarter worth approximately $1,332,000. Finally, Stifel Financial Corp purchased a new stake in shares of Hudson Pacific Properties during the 3rd quarter worth approximately $48,000. 97.58% of the stock is currently owned by 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.