Hudson Pacific Properties (NYSE:HPP) Coverage Initiated at Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of Hudson Pacific Properties (NYSE:HPP) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $2.70 price target on the real estate investment trust’s stock. Jefferies Financial Group’s target price would suggest a potential downside of 8.94% from the stock’s previous close.

A number of other research firms have also recently weighed in on HPP. Wells Fargo & Company raised shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective on the stock in a report on Monday, March 10th. Piper Sandler lowered their target price on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Mizuho lowered 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 research note on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Scotiabank lowered their target price on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $3.54.

Hudson Pacific Properties Stock Down 2.1 %

HPP stock opened at $2.97 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a fifty-two week low of $2.39 and a fifty-two week high of $6.82. The firm’s 50-day simple moving average is $3.00 and its 200 day simple moving average is $3.70. The stock has a market cap of $419.11 million, a PE ratio of -1.15 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The business had revenue of $209.67 million for the quarter, compared to analysts’ expectations of $207.95 million. As a group, sell-side analysts predict that Hudson Pacific Properties will post 0.45 EPS for the current year.

Hedge Funds Weigh In On Hudson Pacific Properties

Several large investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. boosted its holdings in shares of Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after buying an additional 7,303,472 shares during the period. Millennium Management LLC boosted its holdings in shares of Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after buying an additional 5,554,444 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hudson Pacific Properties by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after buying an additional 458,783 shares during the period. Legal & General Group Plc boosted its holdings in shares of Hudson Pacific Properties by 0.5% in the fourth quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after buying an additional 21,320 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Hudson Pacific Properties by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock worth $10,572,000 after buying an additional 61,868 shares during the period. 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.