Hudson Pacific Properties (NYSE:HPP) was downgraded by investment analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat reports. They currently have a $36.00 target price on the real estate investment trust’s stock. Sandler O’Neill’s price objective suggests a potential upside of 9.52% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. KeyCorp reiterated a “buy” rating on shares of Hudson Pacific Properties in a research report on Tuesday, September 26th. Goldman Sachs Group started coverage on shares of Hudson Pacific Properties in a research report on Tuesday, September 19th. They set a “buy” rating and a $39.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.67.
Hudson Pacific Properties (HPP) traded down $0.53 on Friday, hitting $32.87. 986,718 shares of the stock traded hands, compared to its average volume of 596,961. Hudson Pacific Properties has a 52 week low of $31.52 and a 52 week high of $36.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $5,212.43, a PE ratio of 80.17, a PEG ratio of 2.69 and a beta of 0.79.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. The company had revenue of $190.02 million during the quarter, compared to analysts’ expectations of $183.37 million. During the same period in the prior year, the company posted $0.46 earnings per share. Hudson Pacific Properties’s revenue for the quarter was up 15.5% compared to the same quarter last year. equities research analysts anticipate that Hudson Pacific Properties will post 1.96 EPS for the current fiscal year.
In related news, insider Richard B. Fried sold 17,417 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $34.66, for a total transaction of $603,673.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sanford Dale Shimoda sold 2,800 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $35.68, for a total transaction of $99,904.00. Following the transaction, the executive vice president now directly owns 83,072 shares in the company, valued at $2,964,008.96. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Hudson Pacific Properties during the second quarter worth $214,000. Ramsey Quantitative Systems bought a new position in Hudson Pacific Properties during the second quarter worth $310,000. Royal Bank of Canada boosted its stake in Hudson Pacific Properties by 60.7% during the second quarter. Royal Bank of Canada now owns 9,386 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 3,544 shares in the last quarter. Comerica Bank boosted its stake in Hudson Pacific Properties by 37.5% during the second quarter. Comerica Bank now owns 11,464 shares of the real estate investment trust’s stock worth $367,000 after acquiring an additional 3,124 shares in the last quarter. Finally, Pensionfund Sabic bought a new position in Hudson Pacific Properties during the third quarter worth $369,000. 99.48% of the stock is currently owned by institutional investors and hedge funds.
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About Hudson Pacific Properties
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.