Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) gapped down prior to trading on Friday after Wells Fargo & Company lowered their price target on the stock from $10.00 to $7.00. The stock had previously closed at $6.95, but opened at $6.59. Wells Fargo & Company currently has an equal weight rating on the stock. Hudson Pacific Properties shares last traded at $6.41, with a volume of 368,628 shares changing hands.
Several other analysts also recently commented on the company. Morgan Stanley reduced their price objective on Hudson Pacific Properties from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 23rd. Mizuho reduced their price objective on Hudson Pacific Properties from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, January 4th. Robert W. Baird raised Hudson Pacific Properties from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $13.00 to $12.00 in a research note on Thursday, January 5th. Finally, StockNews.com assumed coverage on Hudson Pacific Properties in a research note on Thursday. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.36.
Institutional Investors Weigh In On Hudson Pacific Properties
A number of institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC grew its holdings in Hudson Pacific Properties by 3.4% during the 1st quarter. HighTower Advisors LLC now owns 18,542 shares of the real estate investment trust’s stock valued at $514,000 after buying an additional 612 shares during the last quarter. Cibc World Markets Corp grew its holdings in Hudson Pacific Properties by 0.9% during the 1st quarter. Cibc World Markets Corp now owns 76,876 shares of the real estate investment trust’s stock valued at $2,133,000 after buying an additional 651 shares during the last quarter. CPR Investments Inc. boosted its holdings in shares of Hudson Pacific Properties by 5.3% during the second quarter. CPR Investments Inc. now owns 17,325 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 867 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Hudson Pacific Properties by 3.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,088 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 994 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Hudson Pacific Properties by 10.9% during the fourth quarter. Captrust Financial Advisors now owns 12,625 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 1,246 shares during the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.
Hudson Pacific Properties Stock Down 7.5 %
The firm has a fifty day moving average price of $9.88 and a 200-day moving average price of $10.68. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.40. The firm has a market cap of $907.02 million, a price-to-earnings ratio of -16.49 and a beta of 1.11.
Hudson Pacific Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Monday, March 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 15.55%. The ex-dividend date of this dividend is Friday, March 17th. Hudson Pacific Properties’s dividend payout ratio (DPR) is -256.40%.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a real estate company, which acquires, repositions, develops, and operates sustainable office and state of-the-art studio properties in high-barrier-to-entry submarkets in California, the Pacific Northwest, Western Canada, and Greater London, United Kingdom. It operates through the Office Properties and Studio Properties segments.