Morgan Stanley Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price target decreased by equities research analysts at Morgan Stanley from $2.40 to $2.25 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price points to a potential downside of 24.87% from the company’s previous close.

A number of other equities analysts also recently weighed in on HPP. Jefferies Financial Group initiated coverage on shares of Hudson Pacific Properties in a research note on Monday. They set a “hold” rating and a $2.70 target price for the company. The Goldman Sachs Group decreased their target price on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Mizuho cut their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Scotiabank cut their price target on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price target on the stock in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.03.

Hudson Pacific Properties Trading Down 1.2 %

HPP stock traded down $0.04 during trading on Tuesday, reaching $3.00. The company had a trading volume of 691,087 shares, compared to its average volume of 2,691,891. Hudson Pacific Properties has a 52 week low of $2.39 and a 52 week high of $6.82. The company has a market cap of $423.35 million, a P/E ratio of -1.16 and a beta of 1.31. The business has a 50 day moving average of $3.00 and a 200 day moving average of $3.71. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The business had revenue of $209.67 million during the quarter, compared to the consensus estimate of $207.95 million. As a group, sell-side analysts forecast that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Victor J. Coleman bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the acquisition, the chief executive officer now owns 487,451 shares of the company’s stock, valued at $1,398,984.37. This trade represents a 11.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Hudson Pacific Properties by 12.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 154,433 shares of the real estate investment trust’s stock worth $738,000 after acquiring an additional 16,602 shares during the last quarter. Metis Global Partners LLC purchased a new position in shares of Hudson Pacific Properties during the 3rd quarter worth $66,000. Thrivent Financial for Lutherans boosted its stake in shares of Hudson Pacific Properties by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock worth $529,000 after acquiring an additional 5,448 shares during the last quarter. Anthracite Investment Company Inc. purchased a new position in shares of Hudson Pacific Properties during the 3rd quarter worth $1,320,000. Finally, Intech Investment Management LLC boosted its stake in shares of Hudson Pacific Properties by 88.1% during the 3rd quarter. Intech Investment Management LLC now owns 90,267 shares of the real estate investment trust’s stock worth $431,000 after acquiring an additional 42,276 shares during the last quarter. Hedge funds and other 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.