Hudson Pacific Properties, Inc. (NYSE:HPP) Receives $15.62 Average Price Target from Brokerages

Hudson Pacific Properties, Inc. (NYSE:HPP) has earned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.6154.

Several analysts recently issued reports on HPP shares. Wells Fargo & Company set a $2.60 target price on shares of Hudson Pacific Properties in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hudson Pacific Properties in a research report on Monday, December 29th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of Hudson Pacific Properties in a research report on Monday, January 5th. Piper Sandler set a $10.00 price target on Hudson Pacific Properties in a report on Tuesday, January 27th. Finally, The Goldman Sachs Group set a $14.50 target price on Hudson Pacific Properties and gave the stock a “neutral” rating in a research note on Thursday, January 29th.

Hudson Pacific Properties Stock Down 10.5%

Shares of HPP traded down $0.67 on Thursday, hitting $5.68. 1,378,773 shares of the stock traded hands, compared to its average volume of 1,363,618. Hudson Pacific Properties has a one year low of $5.62 and a one year high of $23.52. The company has a market capitalization of $308.08 million, a PE ratio of -0.33 and a beta of 1.49. The business has a 50 day simple moving average of $10.17 and a 200 day simple moving average of $15.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.78 and a current ratio of 1.78.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPP. Vanguard Group Inc. increased its holdings in shares of Hudson Pacific Properties by 14.3% in the third quarter. Vanguard Group Inc. now owns 38,453,976 shares of the real estate investment trust’s stock valued at $106,133,000 after purchasing an additional 4,815,234 shares during the period. Balyasny Asset Management L.P. lifted its position in Hudson Pacific Properties by 122.4% during the second quarter. Balyasny Asset Management L.P. now owns 15,712,981 shares of the real estate investment trust’s stock valued at $43,054,000 after buying an additional 8,646,463 shares in the last quarter. Principal Financial Group Inc. grew its stake in Hudson Pacific Properties by 20.1% during the third quarter. Principal Financial Group Inc. now owns 12,196,771 shares of the real estate investment trust’s stock worth $33,663,000 after buying an additional 2,039,627 shares during the period. Conversant Capital LLC raised its stake in shares of Hudson Pacific Properties by 293.6% in the 2nd quarter. Conversant Capital LLC now owns 10,700,000 shares of the real estate investment trust’s stock valued at $29,318,000 after acquiring an additional 7,981,580 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Hudson Pacific Properties by 357.1% during the 2nd quarter. Prudential Financial Inc. now owns 10,686,082 shares of the real estate investment trust’s stock valued at $29,280,000 after acquiring an additional 8,348,371 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties (NYSE: HPP) is a self-managed real estate investment trust focused on the acquisition, development and management of high-quality office and studio properties. The company’s portfolio spans strategic West Coast markets in the United States and key markets in Canada, providing space for technology, media and creative companies as well as major film and television producers. As an owner and operator of both traditional office buildings and specialized production facilities, Hudson Pacific seeks to deliver stable income through long-term leases and strategic property enhancements.

In its office segment, Hudson Pacific targets markets with strong job growth and limited supply, including Los Angeles, Silicon Valley, San Diego and Seattle, as well as Vancouver, British Columbia.