Hudson Pacific Properties (NYSE:HPP) Given New $4.50 Price Target at Piper Sandler

Hudson Pacific Properties (NYSE:HPP) had its price objective lowered by Piper Sandler from $5.00 to $4.50 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective would indicate a potential upside of 19.05% from the stock’s previous close.

HPP has been the topic of several other reports. Bank of America decreased their price target on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group cut their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Scotiabank reduced their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Finally, Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Price Performance

Shares of Hudson Pacific Properties stock traded down $0.19 during trading on Friday, hitting $3.78. 1,804,112 shares of the stock traded hands, compared to its average volume of 2,394,771. The firm’s fifty day moving average is $4.62 and its 200-day moving average is $4.96. The stock has a market cap of $533.85 million, a price-to-earnings ratio of -1.82 and a beta of 1.31. Hudson Pacific Properties has a 52 week low of $3.74 and a 52 week high of $9.85. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Insider Buying and Selling

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 stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 completion of the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Institutional Trading of Hudson Pacific Properties

A number of hedge funds have recently modified their holdings of HPP. Blue Trust Inc. increased its position in Hudson Pacific Properties by 549.1% during the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 5,013 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Hudson Pacific Properties in the 3rd quarter worth about $44,000. Key Client Fiduciary Advisors LLC purchased a new stake in Hudson Pacific Properties during the 2nd quarter valued at about $53,000. MQS Management LLC bought a new stake in Hudson Pacific Properties during the 3rd quarter valued at about $58,000. Finally, Metis Global Partners LLC purchased a new position in Hudson Pacific Properties in the third quarter worth about $66,000. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Company Profile

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.