Wells Fargo & Company Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $13.50

Hudson Pacific Properties (NYSE:HPP) had its target price reduced by Wells Fargo & Company from $18.20 to $13.50 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on HPP. Cantor Fitzgerald dropped their target price on shares of Hudson Pacific Properties from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Hudson Pacific Properties in a research report on Thursday, February 26th. Piper Sandler cut their price objective on shares of Hudson Pacific Properties from $8.00 to $6.50 and set a “neutral” rating for the company in a report on Wednesday. Zacks Research raised shares of Hudson Pacific Properties from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Mizuho lowered their target price on shares of Hudson Pacific Properties from $21.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average target price of $14.11.

Hudson Pacific Properties Stock Performance

HPP opened at $5.63 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.78 and a current ratio of 1.78. Hudson Pacific Properties has a 52-week low of $5.26 and a 52-week high of $21.70. The firm has a market cap of $305.59 million, a P/E ratio of -0.43, a price-to-earnings-growth ratio of 0.59 and a beta of 1.51. The business’s fifty day moving average is $6.85 and its 200-day moving average is $11.83.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Hudson Pacific Properties had a negative net margin of 69.12% and a negative return on equity of 19.89%. The business had revenue of $256.03 million during the quarter, compared to analysts’ expectations of $168.02 million. Hudson Pacific Properties has set its FY 2026 guidance at 0.960-1.060 EPS. Sell-side analysts expect that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently modified their holdings of HPP. Xponance Inc. grew its stake in Hudson Pacific Properties by 19.9% during the third quarter. Xponance Inc. now owns 29,100 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 4,821 shares in the last quarter. Pensionfund Sabic bought a new position in Hudson Pacific Properties in the 4th quarter valued at $59,000. Envestnet Asset Management Inc. boosted its holdings in Hudson Pacific Properties by 1.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 576,274 shares of the real estate investment trust’s stock valued at $1,591,000 after purchasing an additional 5,544 shares during the period. Ballentine Partners LLC grew its position in shares of Hudson Pacific Properties by 25.4% during the 3rd quarter. Ballentine Partners LLC now owns 28,201 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 5,709 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Hudson Pacific Properties by 41.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,269 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 7,453 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a self-managed real estate investment trust focused on the acquisition, development and management of high-quality office and studio properties. The company’s portfolio spans strategic West Coast markets in the United States and key markets in Canada, providing space for technology, media and creative companies as well as major film and television producers. As an owner and operator of both traditional office buildings and specialized production facilities, Hudson Pacific seeks to deliver stable income through long-term leases and strategic property enhancements.

In its office segment, Hudson Pacific targets markets with strong job growth and limited supply, including Los Angeles, Silicon Valley, San Diego and Seattle, as well as Vancouver, British Columbia.