Hudson Pacific Properties (NYSE:HPP) Given New $7.00 Price Target at The Goldman Sachs Group

Hudson Pacific Properties (NYSE:HPP) had its price objective decreased by The Goldman Sachs Group from $9.00 to $7.00 in a research note issued to investors on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on HPP. Wedbush cut Hudson Pacific Properties from an outperform rating to a neutral rating and dropped their price target for the company from $11.00 to $7.50 in a report on Tuesday, February 20th. Morgan Stanley cut their price target on Hudson Pacific Properties from $7.00 to $6.00 and set an equal weight rating for the company in a report on Thursday, March 28th. Wolfe Research raised shares of Hudson Pacific Properties from a peer perform rating to an outperform rating and set a $8.40 price objective on the stock in a report on Monday, March 18th. Finally, Piper Sandler reaffirmed an overweight rating and issued a $7.00 target price (down from $9.00) on shares of Hudson Pacific Properties in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $8.49.

Hudson Pacific Properties Stock Performance

Hudson Pacific Properties stock opened at $5.22 on Tuesday. Hudson Pacific Properties has a 52-week low of $4.05 and a 52-week high of $9.85. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.79. The stock has a fifty day moving average price of $6.19 and a two-hundred day moving average price of $6.87. The firm has a market capitalization of $736.78 million, a P/E ratio of -3.26, a P/E/G ratio of 0.46 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The firm 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 23.48% and a negative return on equity of 6.91%. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. As a group, analysts anticipate that Hudson Pacific Properties will post 1.05 EPS for the current fiscal year.

Hudson Pacific Properties Announces Dividend

The business also recently announced a — dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were given a dividend of $0.05 per share. The ex-dividend date was Friday, March 15th. Hudson Pacific Properties’s payout ratio is currently -12.50%.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the transaction, the executive now directly owns 116,694 shares of the company’s stock, valued at $829,694.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Barry A. Sholem purchased 40,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were bought at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the acquisition, the director now directly owns 70,176 shares in the company, valued at approximately $469,477.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CIO Drew Gordon sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the transaction, the executive now directly owns 116,694 shares of the company’s stock, valued at $829,694.34. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Several institutional investors have recently bought and sold shares of HPP. FMR LLC raised its holdings in shares of Hudson Pacific Properties by 6,191.3% in the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock valued at $35,869,000 after purchasing an additional 5,308,032 shares during the last quarter. Deutsche Bank AG lifted its position in Hudson Pacific Properties by 2,367.6% during the 3rd quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock worth $28,469,000 after buying an additional 4,107,498 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hudson Pacific Properties by 12.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,097,841 shares of the real estate investment trust’s stock worth $38,151,000 after buying an additional 439,331 shares in the last quarter. Waterfront Capital Partners LLC acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth about $22,848,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Hudson Pacific Properties by 114.3% in the 4th quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock valued at $19,621,000 after acquiring an additional 1,124,100 shares in the last quarter. Institutional investors own 97.58% of the company’s stock.

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.