Analysts Set Hudson Pacific Properties, Inc. (NYSE:HPP) PT at $8.49

Hudson Pacific Properties, Inc. (NYSE:HPP) has earned an average recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $8.49.

A number of equities research analysts have 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 on the stock in a research report on Monday, March 18th. Wedbush lowered Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $11.00 to $7.50 in a research report on Tuesday, February 20th. The Goldman Sachs Group lowered their target price on Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Morgan Stanley lowered their target price on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Finally, Piper Sandler reiterated an “overweight” rating and set a $7.00 price objective (down previously from $9.00) on shares of Hudson Pacific Properties in a research note on Friday, May 3rd.

Institutional Trading of Hudson Pacific Properties

Large investors have recently modified their holdings of the company. Kennedy Capital Management LLC lifted its position in shares of Hudson Pacific Properties by 50.6% in the first quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock valued at $8,000,000 after acquiring an additional 416,591 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Hudson Pacific Properties by 405.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock valued at $1,995,000 after acquiring an additional 248,117 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Hudson Pacific Properties in the first quarter valued at about $554,000. Westwood Holdings Group Inc. purchased a new position in shares of Hudson Pacific Properties in the first quarter valued at about $258,000. Finally, Shell Asset Management Co. purchased a new position in shares of Hudson Pacific Properties in the first quarter valued at about $107,000. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Performance

NYSE:HPP opened at $4.88 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. The stock has a market cap of $688.11 million, a P/E ratio of -3.05, a PEG ratio of 0.64 and a beta of 1.31. The business’s 50-day moving average price is $5.91 and its two-hundred day moving average price is $6.89. Hudson Pacific Properties has a twelve month low of $4.05 and a twelve month high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.53). Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The company had revenue of $214.02 million for the quarter, compared to the consensus estimate of $220.61 million. As a group, equities analysts predict that Hudson Pacific Properties will post 0.9 EPS for the current fiscal year.

Hudson Pacific Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Monday, June 17th. Hudson Pacific Properties’s payout ratio is currently -12.50%.

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.