Hudson Pacific Properties, Inc. (HPP) Stock Rating Reaffirmed by KeyCorp
Hudson Pacific Properties, Inc. (NYSE:HPP)‘s stock had its “buy” rating restated by investment analysts at KeyCorp in a note issued to investors on Tuesday.
A number of other equities research analysts have also issued reports on the company. Morgan Stanley cut their price target on Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, September 1st. BidaskClub downgraded shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Barclays PLC increased their price objective on shares of Hudson Pacific Properties from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Hudson Pacific Properties in a report on Tuesday, September 19th. They set a “buy” rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Hudson Pacific Properties currently has an average rating of “Buy” and a consensus target price of $38.39.
Shares of Hudson Pacific Properties (NYSE HPP) traded up 0.49% during midday trading on Tuesday, reaching $33.00. The company’s stock had a trading volume of 1,076,356 shares. The company has a market cap of $5.12 billion, a PE ratio of 93.75 and a beta of 0.76. Hudson Pacific Properties has a 12 month low of $31.52 and a 12 month high of $36.75. The company’s 50-day moving average price is $32.49 and its 200-day moving average price is $33.59.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The business had revenue of $166.85 million during the quarter, compared to analyst estimates of $175.79 million. During the same quarter in the prior year, the business posted $0.43 EPS. Hudson Pacific Properties’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts anticipate that Hudson Pacific Properties will post $0.29 EPS for the current fiscal year.
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In other Hudson Pacific Properties news, Director Jonathan M. Glaser purchased 15,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $31.78 per share, with a total value of $476,700.00. Following the acquisition, the director now owns 132,405 shares in the company, valued at $4,207,830.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Glaser purchased 5,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $31.98 per share, with a total value of $159,900.00. Following the acquisition, the director now owns 132,405 shares in the company, valued at approximately $4,234,311.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,000 shares of company stock valued at $797,600 in the last three months. Insiders own 13.35% of the company’s stock.
Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Hudson Pacific Properties by 126.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,740 shares of the real estate investment trust’s stock valued at $130,000 after acquiring an additional 2,091 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Hudson Pacific Properties in the 2nd quarter valued at about $168,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Hudson Pacific Properties in the 2nd quarter valued at about $214,000. Advisors Asset Management Inc. lifted its holdings in shares of Hudson Pacific Properties by 1,278.7% in the 1st quarter. Advisors Asset Management Inc. now owns 6,742 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 6,253 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of Hudson Pacific Properties in the 1st quarter valued at about $291,000.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.
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