Hudson Pacific Properties (NYSE:HPP) Raised to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Hudson Pacific Properties (NYSE:HPP) from a market perform rating to an outperform rating in a research note published on Friday, MarketBeat.com reports. They currently have $5.00 price target on the real estate investment trust’s stock, up from their prior price target of $4.00.

HPP has been the topic of several other research reports. Morgan Stanley cut their price objective on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Scotiabank decreased their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Mizuho dropped their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler reduced their price target on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.43.

Hudson Pacific Properties Stock Down 1.2 %

HPP stock opened at $2.98 on Friday. 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 firm has a 50 day simple moving average of $3.02 and a 200-day simple moving average of $3.60. The company has a market capitalization of $420.53 million, a P/E ratio of -1.16 and a beta of 1.31. Hudson Pacific Properties has a twelve month low of $2.39 and a twelve month high of $6.69.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $209.67 million during the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. On average, equities research analysts predict that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Hudson Pacific Properties

A number of large investors have recently modified their holdings of HPP. Balyasny Asset Management L.P. increased its position in Hudson Pacific Properties by 265.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after acquiring an additional 7,303,472 shares during the period. Millennium Management LLC increased its holdings in shares of Hudson Pacific Properties by 303.5% during the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after purchasing an additional 5,554,444 shares during the period. Marshall Wace LLP raised its stake in shares of Hudson Pacific Properties by 853.2% during the fourth quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust’s stock valued at $5,590,000 after purchasing an additional 1,651,382 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Hudson Pacific Properties by 95.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust’s stock worth $7,895,000 after purchasing an additional 1,275,236 shares during the period. Finally, Davis Selected Advisers grew its position in Hudson Pacific Properties by 88.0% in the 4th quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock valued at $6,911,000 after buying an additional 1,067,940 shares in the last quarter. Institutional investors and hedge funds 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.