Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $3.00 at Mizuho

Hudson Pacific Properties (NYSE:HPP) had its price objective reduced by investment analysts at Mizuho from $5.00 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price would suggest a potential upside of 7.14% from the stock’s previous close.

HPP has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Jefferies Financial Group reduced their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Piper Sandler lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.08.

Hudson Pacific Properties Stock Down 3.4 %

Shares of Hudson Pacific Properties stock opened at $2.80 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $9.80. The company has a market cap of $395.45 million, a P/E ratio of -1.34 and a beta of 1.30. The company’s fifty day simple moving average is $3.54 and its two-hundred day simple moving average is $4.48.

Insider Transactions at Hudson Pacific Properties

In other news, CEO Victor J. Coleman bought 50,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the acquisition, the chief executive officer now owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Hudson Pacific Properties by 13.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after purchasing an additional 630,932 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hudson Pacific Properties by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock valued at $16,381,000 after purchasing an additional 154,101 shares in the last quarter. Millennium Management LLC boosted its position in shares of Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after buying an additional 1,319,869 shares during the last quarter. B&I Capital AG increased its holdings in Hudson Pacific Properties by 23.4% in the 2nd quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after buying an additional 322,033 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Hudson Pacific Properties by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock worth $6,209,000 after buying an additional 43,728 shares during the last quarter. Institutional investors own 97.58% of the company’s stock.

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.