Brokerages Set Hudson Pacific Properties, Inc. (NYSE:HPP) PT at $3.13

Hudson Pacific Properties, Inc. (NYSE:HPP) has received an average rating of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $3.1333.

HPP has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Hudson Pacific Properties from $3.40 to $3.10 and set an “overweight” rating for the company in a research note on Wednesday, August 27th. New Street Research set a $2.40 target price on shares of Hudson Pacific Properties in a research report on Monday, October 13th. The Goldman Sachs Group increased their price objective on shares of Hudson Pacific Properties from $2.80 to $3.20 and gave the stock a “neutral” rating in a research note on Wednesday, September 17th. Jefferies Financial Group lowered their target price on Hudson Pacific Properties from $2.50 to $2.40 and set a “hold” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hudson Pacific Properties in a research note on Tuesday, October 14th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. 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 worth $43,054,000 after acquiring an additional 8,646,463 shares during the last quarter. Conversant Capital LLC grew its holdings in 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 buying an additional 7,981,580 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Hudson Pacific Properties by 357.1% during the second quarter. Prudential Financial Inc. now owns 10,686,082 shares of the real estate investment trust’s stock worth $29,280,000 after buying an additional 8,348,371 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Hudson Pacific Properties by 136.9% in the second quarter. Geode Capital Management LLC now owns 8,266,586 shares of the real estate investment trust’s stock valued at $22,655,000 after acquiring an additional 4,777,056 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Hudson Pacific Properties in the second quarter valued at about $21,422,000. 97.58% of the stock is owned by institutional investors and hedge funds.

Hudson Pacific Properties Trading Down 1.0%

HPP opened at $2.39 on Tuesday. The firm’s fifty day simple moving average is $2.71 and its 200 day simple moving average is $2.53. The stock has a market capitalization of $904.28 million, a P/E ratio of -0.85 and a beta of 1.64. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.17. Hudson Pacific Properties has a 12 month low of $1.78 and a 12 month high of $4.67.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Hudson Pacific Properties had a negative return on equity of 15.10% and a negative net margin of 53.76%.The company had revenue of $190.00 million for the quarter, compared to analyst estimates of $196.27 million. As a group, research analysts anticipate that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

About Hudson Pacific Properties

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.