Piper Sandler Lowers Hudson Pacific Properties (NYSE:HPP) Price Target to $4.50

Hudson Pacific Properties (NYSE:HPP) had its price target dropped by equities researchers at Piper Sandler from $5.00 to $4.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 19.05% from the stock’s current price.

A number of other research analysts have also weighed in on HPP. Jefferies Financial Group lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their target price for the company from $5.50 to $5.00 in a report on Tuesday. Wells Fargo & Company dropped their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Bank of America reduced their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.17.

Hudson Pacific Properties Stock Down 4.8 %

Shares of HPP traded down $0.19 on Friday, reaching $3.78. The company’s stock had a trading volume of 1,804,112 shares, compared to its average volume of 2,394,771. The company has a current ratio of 1.26, a quick ratio of 1.47 and a debt-to-equity ratio of 1.47. The firm has a fifty day moving average of $4.62 and a 200-day moving average of $4.96. The stock has a market capitalization of $533.85 million, a PE ratio of -1.82 and a beta of 1.31. Hudson Pacific Properties has a twelve month low of $3.74 and a twelve month high of $9.85.

Insider Activity

In related news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. The trade was a 71.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. This represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in shares of Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares during the period. Scion Asset Management LLC purchased a new stake in shares of Hudson Pacific Properties in the 2nd quarter valued at about $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Hudson Pacific Properties by 450.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock valued at $5,096,000 after acquiring an additional 872,538 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock worth $3,633,000 after purchasing an additional 720,549 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after purchasing an additional 630,932 shares during 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.