Hudson Pacific Properties (NYSE:HPP) Upgraded at Wells Fargo & Company

Hudson Pacific Properties (NYSE:HPP) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm currently has a $4.00 price objective on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 26.78% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler dropped their price objective 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, February 24th. The Goldman Sachs Group dropped their price target on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Mizuho reduced their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group dropped their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Scotiabank cut their price target on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.26.

Hudson Pacific Properties Stock Performance

Shares of Hudson Pacific Properties stock opened at $3.16 on Monday. The stock has a market cap of $445.97 million, a PE ratio of -1.23 and a beta of 1.31. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $7.20. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The business has a fifty day simple moving average of $3.01 and a 200-day simple moving average of $3.82.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $209.67 million during the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. On average, sell-side analysts anticipate that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Victor J. Coleman bought 50,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired 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 of the company’s stock, valued at $1,398,984.37. This represents a 11.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its position in shares of Hudson Pacific Properties by 265.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after purchasing an additional 7,303,472 shares during the last quarter. Millennium Management LLC increased its position in Hudson Pacific Properties by 303.5% in the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after buying an additional 5,554,444 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hudson Pacific Properties by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after buying an additional 458,783 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Hudson Pacific Properties by 0.5% in the fourth quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock valued at $12,147,000 after acquiring an additional 21,320 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Hudson Pacific Properties by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock valued at $10,572,000 after acquiring an additional 61,868 shares during the period. 97.58% of the stock is currently owned by institutional investors.

Hudson Pacific Properties Company Profile

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.