Mizuho Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its price target decreased by equities researchers at Mizuho from $5.00 to $3.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price would indicate a potential upside of 7.14% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company cut their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Jefferies Financial Group cut their target price on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Piper Sandler lowered their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.08.

Hudson Pacific Properties Stock Down 3.4 %

Shares of NYSE HPP opened at $2.80 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average of $3.54 and a 200-day moving average of $4.48. The firm has a market capitalization of $395.45 million, a price-to-earnings ratio of -1.34 and a beta of 1.30. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $9.80.

Insider Activity

In related news, CEO Victor J. Coleman bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the acquisition, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. The trade was a 11.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

Institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Hudson Pacific Properties by 120.9% during the 3rd quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust’s stock valued at $1,168,000 after buying an additional 133,673 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Hudson Pacific Properties by 4.7% in the third 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 during the period. Public Employees Retirement System of Ohio raised its stake in shares of Hudson Pacific Properties by 11.7% during the third quarter. Public Employees Retirement System of Ohio now owns 212,406 shares of the real estate investment trust’s stock valued at $1,015,000 after acquiring an additional 22,167 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Hudson Pacific Properties by 13.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 185,000 shares of the real estate investment trust’s stock worth $884,000 after purchasing an additional 22,300 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Hudson Pacific Properties during the third quarter worth about $592,000. Hedge funds and other 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.