Hudson Pacific Properties, Inc. (NYSE:HPP – Get Free Report)’s stock price fell 5.5% on Friday after Piper Sandler lowered their price target on the stock from $11.00 to $9.00. Piper Sandler currently has an overweight rating on the stock. Hudson Pacific Properties traded as low as $6.40 and last traded at $6.41. 454,010 shares changed hands during trading, a decline of 84% from the average session volume of 2,808,564 shares. The stock had previously closed at $6.78.
Several other analysts also recently issued reports on HPP. Jefferies Financial Group upgraded Hudson Pacific Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $6.00 to $12.00 in a research note on Tuesday, January 2nd. The Goldman Sachs Group lifted their price objective on Hudson Pacific Properties from $7.10 to $10.60 and gave the company a “neutral” rating in a report on Thursday, January 11th. Wedbush cut Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $11.00 to $7.50 in a report on Tuesday, February 20th. Wolfe Research raised Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price objective for the company in a report on Monday. Finally, BTIG Research lifted their price objective on Hudson Pacific Properties from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, December 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Hudson Pacific Properties currently has an average rating of “Hold” and a consensus price target of $8.86.
Insider Activity at Hudson Pacific Properties
In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the sale, the executive now owns 116,694 shares of the company’s stock, valued at $829,694.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Barry A. Sholem bought 40,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were bought at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the acquisition, the director now directly owns 70,176 shares of the company’s stock, valued at $469,477.44. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CIO Drew Gordon sold 10,000 shares of Hudson Pacific Properties stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the sale, the executive now owns 116,694 shares in the company, valued at $829,694.34. The disclosure for this sale can be found here. 2.95% of the stock is owned by corporate insiders.
Institutional Trading of Hudson Pacific Properties
A number of hedge funds have recently bought and sold shares of HPP. Goldman Sachs Group Inc. grew its position in shares of Hudson Pacific Properties by 1.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,588,394 shares of the real estate investment trust’s stock valued at $14,788,000 after purchasing an additional 24,852 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Hudson Pacific Properties during the fourth quarter worth about $125,000. GSA Capital Partners LLP purchased a new position in Hudson Pacific Properties during the fourth quarter worth about $1,053,000. Public Employees Retirement System of Ohio grew its position in Hudson Pacific Properties by 0.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 191,620 shares of the real estate investment trust’s stock worth $1,784,000 after buying an additional 1,550 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Hudson Pacific Properties by 8.4% during the fourth quarter. Legal & General Group Plc now owns 3,375,149 shares of the real estate investment trust’s stock worth $31,423,000 after buying an additional 262,310 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors.
Hudson Pacific Properties Stock Performance
The company has a 50-day moving average of $7.38 and a 200 day moving average of $6.96. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $897.46 million, a PE ratio of -4.82, a PEG ratio of 0.55 and a beta of 1.31.
Hudson Pacific Properties (NYSE:HPP – Get Free Report) last posted its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. Hudson Pacific Properties had a negative return on equity of 5.74% and a negative net margin of 19.20%. The firm had revenue of $223.42 million during the quarter, compared to analysts’ expectations of $223.93 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. Equities research analysts predict that Hudson Pacific Properties, Inc. will post 1.04 EPS for the current year.
Hudson Pacific Properties Dividend Announcement
The business also recently announced a — dividend, which will be paid on Thursday, March 28th. Stockholders of record on Monday, March 18th will be paid a $0.05 dividend. The ex-dividend date is Friday, March 15th. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently -14.60%.
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.