Hudson Pacific Properties (NYSE:HPP) Earns “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Hudson Pacific Properties (NYSE:HPP) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $7.00 price target on the real estate investment trust’s stock, down from their prior price target of $9.00.

Several other analysts also recently weighed in on the company. Wolfe Research upgraded Hudson Pacific Properties from a peer perform rating to an outperform rating and set a $8.40 price objective for the company in a report on Monday, March 18th. Wedbush lowered Hudson Pacific Properties from an outperform rating to a neutral rating and decreased their target price for the company from $11.00 to $7.50 in a report on Tuesday, February 20th. Morgan Stanley reduced their target price on shares of 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. BMO Capital Markets raised their target price on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. Finally, The Goldman Sachs Group lifted their price target on Hudson Pacific Properties from $7.10 to $10.60 and gave the stock a neutral rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $8.85.

Hudson Pacific Properties Trading Down 0.4 %

Shares of HPP traded down $0.02 during trading hours on Friday, hitting $5.49. The company had a trading volume of 426,728 shares, compared to its average volume of 2,609,663. The business has a fifty day moving average of $6.24 and a 200-day moving average of $6.87. Hudson Pacific Properties has a 12 month low of $4.05 and a 12 month high of $9.85. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $223.42 million during the quarter, compared to analysts’ expectations of $223.93 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, analysts predict that Hudson Pacific Properties will post 1.05 earnings per share for the current year.

Hudson Pacific Properties Announces Dividend

The company also recently declared a — dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties’s payout ratio is currently -12.50%.

Insider Activity

In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the sale, the executive now owns 116,694 shares in the company, valued at $829,694.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the transaction, the executive now directly owns 116,694 shares in the company, valued at approximately $829,694.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry A. Sholem acquired 40,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average price of $6.69 per share, with a total value of $267,600.00. Following the acquisition, the director now owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The disclosure for this purchase can be found here. 3.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake 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 valued at $35,869,000 after buying an additional 5,308,032 shares during the last quarter. Deutsche Bank AG boosted its holdings in Hudson Pacific Properties by 2,367.6% during the third quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock worth $28,469,000 after buying an additional 4,107,498 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Hudson Pacific Properties by 12.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,097,841 shares of the real estate investment trust’s stock valued at $38,151,000 after acquiring an additional 439,331 shares in the last quarter. Waterfront Capital Partners LLC bought a new position in Hudson Pacific Properties in the fourth quarter worth $22,848,000. Finally, Allianz Asset Management GmbH raised its position in shares of Hudson Pacific Properties by 114.3% during the fourth quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock worth $19,621,000 after acquiring an additional 1,124,100 shares during the last quarter. Institutional investors and hedge funds 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.