Hudson Pacific Properties (NYSE:HPP) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Hudson Pacific Properties (NYSE:HPPGet Rating) from a sell rating to a hold rating in a research note published on Monday morning.

Other equities research analysts have also issued reports about the stock. Morgan Stanley raised shares of Hudson Pacific Properties from an underweight rating to an equal weight rating and set a $13.00 price objective on the stock in a research note on Friday, September 9th. They noted that the move was a valuation call. Citigroup lowered shares of Hudson Pacific Properties from a buy rating to a neutral rating and cut their target price for the stock from $16.50 to $13.00 in a research note on Monday, September 19th. Mizuho cut their target price on shares of Hudson Pacific Properties from $14.00 to $12.00 and set an underperform rating on the stock in a research note on Wednesday, October 19th. BTIG Research lowered shares of Hudson Pacific Properties from a buy rating to a neutral rating in a research note on Wednesday, October 19th. Finally, Wells Fargo & Company cut their target price on shares of Hudson Pacific Properties from $14.00 to $12.00 and set an equal weight rating on the stock in a research note on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hudson Pacific Properties presently has an average rating of Hold and a consensus target price of $16.55.

Hudson Pacific Properties Stock Performance

NYSE:HPP opened at $10.96 on Monday. The firm’s fifty day moving average is $10.99 and its 200-day moving average is $14.30. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.40 and a current ratio of 1.40. Hudson Pacific Properties has a 52 week low of $9.83 and a 52 week high of $28.66. The firm has a market cap of $1.54 billion, a P/E ratio of -43.84, a P/E/G ratio of 3.09 and a beta of 0.98.

Hudson Pacific Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Monday, September 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.12%. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently -400.00%.

Insider Activity

In other news, President Mark T. Lammas acquired 5,000 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was bought at an average cost of $11.11 per share, for a total transaction of $55,550.00. Following the completion of the transaction, the president now owns 189,865 shares of the company’s stock, valued at $2,109,400.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Mark T. Lammas acquired 5,000 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was bought at an average cost of $11.11 per share, for a total transaction of $55,550.00. Following the completion of the transaction, the president now owns 189,865 shares of the company’s stock, valued at $2,109,400.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur X. Suazo acquired 4,347 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was purchased at an average price of $11.11 per share, with a total value of $48,295.17. Following the completion of the transaction, the executive vice president now directly owns 77,102 shares of the company’s stock, valued at approximately $856,603.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 38,930 shares of company stock worth $461,550. 3.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Hudson Pacific Properties by 31.9% during the third quarter. BlackRock Inc. now owns 22,812,665 shares of the real estate investment trust’s stock valued at $249,799,000 after purchasing an additional 5,516,360 shares during the last quarter. Vanguard Group Inc. lifted its position in Hudson Pacific Properties by 0.7% during the first quarter. Vanguard Group Inc. now owns 22,183,249 shares of the real estate investment trust’s stock valued at $615,584,000 after purchasing an additional 160,204 shares during the last quarter. State Street Corp lifted its position in Hudson Pacific Properties by 12.0% during the first quarter. State Street Corp now owns 8,287,870 shares of the real estate investment trust’s stock valued at $229,988,000 after purchasing an additional 885,181 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Hudson Pacific Properties by 12.3% during the second quarter. Goldman Sachs Group Inc. now owns 4,298,007 shares of the real estate investment trust’s stock valued at $63,782,000 after purchasing an additional 469,341 shares during the last quarter. Finally, PGGM Investments bought a new stake in Hudson Pacific Properties during the third quarter valued at approximately $40,154,000. 97.54% of the stock is currently owned by institutional investors.

About Hudson Pacific Properties

(Get Rating)

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. 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.

See Also

Analyst Recommendations for Hudson Pacific Properties (NYSE:HPP)

Receive News & Ratings for Hudson Pacific Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties and related companies with MarketBeat.com's FREE daily email newsletter.