Piper Sandler Lowers Hudson Pacific Properties (NYSE:HPP) to Neutral


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Hudson Pacific Properties (NYSE:HPP) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.

A number of other research analysts have also commented on HPP. ValuEngine upgraded Hudson Pacific Properties from a “sell” rating to a “hold” rating in a report on Tuesday, December 1st. BMO Capital Markets assumed coverage on shares of Hudson Pacific Properties in a report on Wednesday, December 23rd. They set a “market perform” rating and a $27.00 target price on the stock. Mizuho lowered shares of Hudson Pacific Properties from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $22.00 in a research note on Monday, October 19th. TheStreet raised shares of Hudson Pacific Properties from a “d+” rating to a “c-” rating in a research note on Wednesday, December 2nd. Finally, BidaskClub cut shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a report on Thursday, January 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $26.50.

Shares of NYSE HPP opened at $24.58 on Thursday. The firm’s fifty day moving average is $24.88 and its 200 day moving average is $23.58. Hudson Pacific Properties has a 52 week low of $16.14 and a 52 week high of $38.81. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.83. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 175.57, a PEG ratio of 3.59 and a beta of 1.02.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.48). The firm had revenue of $196.29 million during the quarter, compared to the consensus estimate of $191.95 million. Hudson Pacific Properties had a return on equity of 0.61% and a net margin of 2.76%. Hudson Pacific Properties’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. Equities research analysts anticipate that Hudson Pacific Properties will post 1.88 earnings per share for the current year.

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $27.56, for a total transaction of $137,800.00. Following the completion of the sale, the director now directly owns 114,904 shares of the company’s stock, valued at $3,166,754.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Glaser sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $24.13, for a total transaction of $180,975.00. Following the completion of the transaction, the director now owns 124,904 shares in the company, valued at $3,013,933.52. The disclosure for this sale can be found here. Company insiders own 2.37% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vestmark Advisory Solutions Inc. increased its position in Hudson Pacific Properties by 5.6% in the third quarter. Vestmark Advisory Solutions Inc. now owns 9,496 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 507 shares in the last quarter. M&T Bank Corp increased its holdings in Hudson Pacific Properties by 6.0% in the 3rd quarter. M&T Bank Corp now owns 12,613 shares of the real estate investment trust’s stock worth $276,000 after acquiring an additional 710 shares in the last quarter. Redpoint Investment Management Pty Ltd boosted its stake in shares of Hudson Pacific Properties by 6.8% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 11,488 shares of the real estate investment trust’s stock worth $276,000 after acquiring an additional 734 shares during the period. Van ECK Associates Corp boosted its stake in shares of Hudson Pacific Properties by 23.5% in the third quarter. Van ECK Associates Corp now owns 4,556 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 866 shares during the period. Finally, Amica Retiree Medical Trust grew its position in shares of Hudson Pacific Properties by 19.1% during the third quarter. Amica Retiree Medical Trust now owns 8,157 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 1,311 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors.

About Hudson Pacific Properties

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

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Analyst Recommendations for Hudson Pacific Properties (NYSE:HPP)

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