Hudson Pacific Properties (NYSE:HPP) Rating Increased to Buy at Zacks Investment Research

Hudson Pacific Properties (NYSE:HPP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm currently has a $40.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.64% from the stock’s previous close.

According to Zacks, “Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring office properties and media and entertainment properties in select growth markets primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company is headquartered in Los Angeles, California. “

HPP has been the topic of a number of other reports. Barclays set a $42.00 target price on Hudson Pacific Properties and gave the stock a “buy” rating in a research report on Friday, October 11th. BTIG Research set a $40.00 price target on Hudson Pacific Properties and gave the company a “buy” rating in a report on Friday, October 18th. Robert W. Baird set a $40.00 price target on Hudson Pacific Properties and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Goldman Sachs Group initiated coverage on Hudson Pacific Properties in a research note on Friday, November 8th. They issued a “buy” rating and a $41.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Hudson Pacific Properties currently has an average rating of “Buy” and a consensus target price of $40.60.

Shares of HPP stock opened at $35.83 on Monday. The stock has a market cap of $5.55 billion, a P/E ratio of 19.26, a PEG ratio of 3.29 and a beta of 0.63. Hudson Pacific Properties has a 52 week low of $27.12 and a 52 week high of $36.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $34.97 and its two-hundred day simple moving average is $34.22.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). The firm had revenue of $208.20 million for the quarter, compared to analysts’ expectations of $204.82 million. Hudson Pacific Properties had a net margin of 5.94% and a return on equity of 1.27%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. On average, analysts anticipate that Hudson Pacific Properties will post 2.03 EPS for the current fiscal year.

In related news, EVP Sanford Dale Shimoda sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.52, for a total transaction of $177,600.00. Following the sale, the executive vice president now owns 93,971 shares of the company’s stock, valued at $3,337,849.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.95% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC increased its stake in Hudson Pacific Properties by 2.0% during the second quarter. Aperio Group LLC now owns 14,638 shares of the real estate investment trust’s stock worth $487,000 after acquiring an additional 294 shares during the last quarter. Comerica Bank lifted its stake in shares of Hudson Pacific Properties by 5.4% in the 3rd quarter. Comerica Bank now owns 7,784 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 398 shares during the last quarter. Creative Planning lifted its stake in shares of Hudson Pacific Properties by 5.3% in the 2nd quarter. Creative Planning now owns 8,038 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 408 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Hudson Pacific Properties by 0.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 74,722 shares of the real estate investment trust’s stock worth $2,486,000 after purchasing an additional 480 shares during the period. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of Hudson Pacific Properties by 17.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,992 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 601 shares during the period.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

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