Hudson Pacific Properties (NYSE:HPP) Given New $6.00 Price Target at Morgan Stanley

Hudson Pacific Properties (NYSE:HPP) had its price objective lowered by equities research analysts at Morgan Stanley from $7.00 to $6.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would indicate a potential downside of 5.96% from the stock’s previous close.

A number of other research analysts have also recently weighed in on HPP. Jefferies Financial Group raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $12.00 in a report on Tuesday, January 2nd. BTIG Research lifted their price objective on shares of Hudson Pacific Properties from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, December 29th. The Goldman Sachs Group lifted their price objective on shares of Hudson Pacific Properties from $7.10 to $10.60 and gave the company a “neutral” rating in a report on Thursday, January 11th. BMO Capital Markets lifted their price objective on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, 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 report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average price target of $9.05.

Hudson Pacific Properties Stock Performance

Shares of NYSE:HPP traded down $0.01 on Thursday, hitting $6.38. 125,795 shares of the company were exchanged, compared to its average volume of 2,723,777. The firm has a market capitalization of $900.28 million, a P/E ratio of -4.72, a price-to-earnings-growth ratio of 0.52 and a beta of 1.31. The stock’s 50 day moving average price is $7.19 and its 200 day moving average price is $6.93. Hudson Pacific Properties has a 1-year low of $4.05 and a 1-year high of $9.85. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.31.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results 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. The company had revenue of $223.42 million during the quarter, compared to the consensus estimate of $223.93 million. Hudson Pacific Properties had a negative net margin of 19.20% and a negative return on equity of 5.74%. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Sell-side analysts predict that Hudson Pacific Properties will post 1.05 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Hudson Pacific Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Gravity Asset Management Inc. increased its holdings in shares of Hudson Pacific Properties by 103,925.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 4,157 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth about $33,000. Point72 Hong Kong Ltd acquired a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth about $35,000. Cape Cod Five Cents Savings Bank acquired a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth about $44,000. Finally, Point72 Middle East FZE acquired a new stake in shares of Hudson Pacific Properties in the 4th quarter worth about $48,000. 97.58% of the stock is owned by institutional investors and hedge funds.

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.