Brokerages Set Hudson Pacific Properties, Inc. (NYSE:HPP) PT at $5.49

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) have been given a consensus rating of “Reduce” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $5.29.

Several brokerages have commented on HPP. Piper Sandler dropped their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Jefferies Financial Group dropped their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th.

Hudson Pacific Properties Trading Up 1.4 %

Shares of NYSE HPP opened at $2.90 on Wednesday. Hudson Pacific Properties has a fifty-two week low of $2.39 and a fifty-two week high of $9.84. The firm has a market capitalization of $409.57 million, a P/E ratio of -1.39 and a beta of 1.27. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The company’s 50 day simple moving average is $3.57 and its 200 day simple moving average is $4.50.

Insider Activity at Hudson Pacific Properties

In related news, CEO Victor J. Coleman acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently added to or reduced their stakes in HPP. Charles Schwab Investment Management Inc. boosted its position in shares of Hudson Pacific Properties by 13.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after buying an additional 630,932 shares during the period. Geode Capital Management LLC lifted its stake in Hudson Pacific Properties by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock valued at $16,381,000 after acquiring an additional 154,101 shares in the last quarter. Millennium Management LLC boosted its position in Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after acquiring an additional 1,319,869 shares during the last quarter. B&I Capital AG grew its stake in shares of Hudson Pacific Properties by 23.4% during the 2nd quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after acquiring an additional 322,033 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Hudson Pacific Properties by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock valued at $6,209,000 after purchasing an additional 43,728 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.