Piper Sandler Reaffirms Overweight Rating for Hudson Pacific Properties (NYSE:HPP)

Piper Sandler restated their overweight rating on shares of Hudson Pacific Properties (NYSE:HPP) in a research report report published on Thursday morning, Benzinga reports. Piper Sandler currently has a $7.00 price objective on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on HPP. Wolfe Research upgraded Hudson Pacific Properties from a peer perform rating to an outperform rating and set a $8.40 price target for the company in a report on Monday, March 18th. Morgan Stanley lowered their price target on Hudson Pacific Properties from $7.00 to $6.00 and set an equal weight rating for the company in a report on Thursday, March 28th. Finally, The Goldman Sachs Group lowered their price target on Hudson Pacific Properties from $9.00 to $7.00 and set a neutral rating for the company in a report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $8.49.

Hudson Pacific Properties Trading Up 0.2 %

Shares of HPP opened at $4.81 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $678.93 million, a P/E ratio of -3.01, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30. The stock’s fifty day simple moving average is $5.14 and its 200 day simple moving average is $6.67. Hudson Pacific Properties has a twelve month low of $4.05 and a twelve month high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.53). Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. The company had revenue of $214.02 million during the quarter, compared to analyst estimates of $220.61 million. On average, equities research analysts forecast that Hudson Pacific Properties will post 0.86 earnings per share for the current year.

Hudson Pacific Properties Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Monday, June 17th were paid a $0.05 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 4.16%. Hudson Pacific Properties’s dividend payout ratio (DPR) is -12.50%.

Insider Buying and Selling

In related news, CEO Victor J. Coleman sold 100,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the completion of the transaction, the chief executive officer now directly owns 387,451 shares in the company, valued at $2,006,996.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders bought 13,420 shares of company stock worth $59,912. Corporate insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds have recently bought and sold shares of the company. GRS Advisors LLC acquired a new position in Hudson Pacific Properties in the fourth quarter worth about $18,489,000. Checchi Capital Advisers LLC bought a new position in Hudson Pacific Properties in the fourth quarter worth about $2,969,000. FMR LLC lifted its holdings in Hudson Pacific Properties by 6,191.3% in the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock worth $35,869,000 after acquiring an additional 5,308,032 shares during the last quarter. American Century Companies Inc. bought a new position in Hudson Pacific Properties in the third quarter worth about $9,313,000. Finally, Beach Point Capital Management LP bought a new position in Hudson Pacific Properties in the fourth quarter worth about $1,659,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

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.