BTIG Research Issues Pessimistic Forecast for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price target decreased by BTIG Research from $8.00 to $4.75 in a research report released on Wednesday morning,Benzinga reports. BTIG Research currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts also recently commented on HPP. Odeon Capital Group assumed coverage on Hudson Pacific Properties in a research report on Monday, June 16th. They issued a “buy” rating and a $5.00 price objective for the company. The Goldman Sachs Group cut their target price on Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler set a $2.00 target price on Hudson Pacific Properties and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Wedbush restated a “neutral” rating on shares of Hudson Pacific Properties in a research report on Monday, May 5th. Finally, Jefferies Financial Group began coverage on Hudson Pacific Properties in a research report on Monday, March 17th. They set a “hold” rating and a $2.70 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $3.22.

Hudson Pacific Properties Price Performance

Shares of HPP stock opened at $2.71 on Wednesday. The stock has a 50 day moving average of $2.29 and a two-hundred day moving average of $2.68. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.62. Hudson Pacific Properties has a 12 month low of $1.78 and a 12 month high of $6.29. The company has a market capitalization of $382.46 million, a P/E ratio of -0.99 and a beta of 1.43.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Hudson Pacific Properties had a negative return on equity of 14.12% and a negative net margin of 47.56%. The company had revenue of $198.46 million during the quarter, compared to the consensus estimate of $199.95 million. As a group, equities analysts expect that Hudson Pacific Properties will post 0.45 EPS for the current year.

Insider Buying and Selling

In other Hudson Pacific Properties news, Director Jonathan M. Glaser acquired 448,430 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was purchased at an average price of $2.23 per share, for a total transaction of $999,998.90. Following the transaction, the director now owns 668,699 shares in the company, valued at $1,491,198.77. This trade represents a 203.58% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Harris II acquired 44,843 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was acquired at an average price of $2.23 per share, with a total value of $99,999.89. Following the transaction, the director now owns 174,731 shares in the company, valued at approximately $389,650.13. The trade was a 34.52% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,139,007 shares of company stock worth $2,539,986 in the last 90 days. 4.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Several institutional investors have recently bought and sold shares of HPP. Sanctuary Advisors LLC bought a new position in Hudson Pacific Properties in the 4th quarter valued at $45,000. Y Intercept Hong Kong Ltd raised its position in Hudson Pacific Properties by 197.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 368,175 shares of the real estate investment trust’s stock valued at $1,116,000 after purchasing an additional 244,410 shares during the last quarter. Versor Investments LP bought a new stake in shares of Hudson Pacific Properties during the fourth quarter worth $97,000. Charles Schwab Investment Management Inc. raised its position in shares of Hudson Pacific Properties by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after acquiring an additional 458,783 shares during the last quarter. Finally, Davis Selected Advisers raised its position in shares of Hudson Pacific Properties by 88.0% during the fourth quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock worth $6,911,000 after acquiring an additional 1,067,940 shares during the last quarter. Institutional investors own 97.58% of the company’s stock.

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.