Piper Sandler Reaffirms “Overweight” Rating for Hudson Pacific Properties (NYSE:HPP)

Piper Sandler reiterated their overweight rating on shares of Hudson Pacific Properties (NYSE:HPP) in a report released on Friday, Benzinga reports. They currently have a $7.00 target price on the real estate investment trust’s stock, down from their prior target price of $9.00.

Several other brokerages have also weighed in on HPP. The Goldman Sachs Group raised their price objective on shares of Hudson Pacific Properties from $7.10 to $10.60 and gave the company a neutral rating in a research report on Thursday, January 11th. BMO Capital Markets increased their price target on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the stock an outperform rating in a research note on Thursday, January 4th. Wolfe Research raised shares of Hudson Pacific Properties from a peer perform rating to an outperform rating and set a $8.40 price objective for the company in a research note on Monday, March 18th. Morgan Stanley lowered their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an equal weight rating on the stock in a research report on Thursday, March 28th. Finally, Wedbush cut Hudson Pacific Properties from an outperform rating to a neutral rating and reduced their price target for the stock from $11.00 to $7.50 in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $8.85.

Hudson Pacific Properties Trading Up 1.3 %

HPP stock traded up $0.07 during midday trading on Friday, reaching $5.51. The company had a trading volume of 2,943,873 shares, compared to its average volume of 2,428,408. The company has a 50 day moving average of $6.24 and a two-hundred day moving average of $6.85. The company has a quick ratio of 1.79, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. Hudson Pacific Properties has a 1 year low of $4.05 and a 1 year high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The firm had revenue of $223.42 million during the quarter, compared to analysts’ expectations of $223.93 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities analysts expect that Hudson Pacific Properties will post 1.05 EPS for the current fiscal year.

Hudson Pacific Properties Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties’s payout ratio is presently -12.50%.

Insider Buying and Selling

In other Hudson Pacific Properties news, Director Barry A. Sholem bought 40,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $6.69 per share, with a total value of $267,600.00. Following the acquisition, the director now directly owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CIO Drew Gordon sold 10,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $7.11, for a total transaction of $71,100.00. Following the completion of the transaction, the executive now directly owns 116,694 shares in the company, valued at approximately $829,694.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Barry A. Sholem purchased 40,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the transaction, the director now directly owns 70,176 shares in the company, valued at $469,477.44. The disclosure for this purchase can be found here. 2.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. increased its stake in Hudson Pacific Properties by 103,925.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 4,157 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Hudson Pacific Properties during the 3rd quarter worth approximately $58,000. Optas LLC bought a new stake in shares of Hudson Pacific Properties during the third quarter valued at approximately $67,000. Sage Rhino Capital LLC acquired a new position in shares of Hudson Pacific Properties in the third quarter valued at $67,000. Finally, Paces Ferry Wealth Advisors LLC bought a new position in Hudson Pacific Properties in the third quarter worth $71,000. Institutional investors own 97.58% of the company’s stock.

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.