Brokerages Set Hudson Pacific Properties, Inc. (NYSE:HPP) Price Target at $6.95

Hudson Pacific Properties, Inc. (NYSE:HPP) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.95.

A number of brokerages have recently commented on HPP. Wells Fargo & Company reduced their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Bank of America cut their price objective on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Scotiabank lowered their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $6.00 to $4.25 in a research report on Wednesday, July 10th.

Insiders Place Their Bets

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares in the company, valued at $322,439.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Silver Lake Advisory LLC acquired a new stake in shares of Hudson Pacific Properties in the second quarter valued at $145,000. Algert Global LLC boosted its holdings in Hudson Pacific Properties by 0.7% during the 2nd quarter. Algert Global LLC now owns 954,042 shares of the real estate investment trust’s stock valued at $4,589,000 after acquiring an additional 7,047 shares during the period. Scion Asset Management LLC acquired a new position in Hudson Pacific Properties in the 2nd quarter valued at about $5,505,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Hudson Pacific Properties during the second quarter worth about $1,563,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Hudson Pacific Properties by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 2,408 shares during the period. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Trading Down 1.7 %

HPP stock opened at $4.69 on Monday. Hudson Pacific Properties has a 12-month low of $4.26 and a 12-month high of $9.85. The business’s 50-day moving average is $5.14 and its 200 day moving average is $5.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The stock has a market cap of $661.97 million, a price-to-earnings ratio of -2.93, a PEG ratio of 0.88 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The firm had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $216.08 million. During the same quarter last year, the business earned $0.24 EPS. The business’s revenue was down 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Hudson Pacific Properties will post 0.62 EPS for the current fiscal year.

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.