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

Hudson Pacific Properties (NYSE:HPP) had its price target lowered by Piper Sandler from $5.00 to $4.50 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also commented on HPP. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $8.00 to $6.00 in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Scotiabank reduced their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. The Goldman Sachs Group dropped their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and reduced their target price for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $6.17.

Hudson Pacific Properties Price Performance

Shares of HPP stock opened at $3.38 on Friday. The stock has a market capitalization of $476.65 million, a price-to-earnings ratio of -1.61 and a beta of 1.31. The company has a current ratio of 1.26, a quick ratio of 1.47 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a twelve month low of $3.34 and a twelve month high of $9.85. The stock has a fifty day simple moving average of $4.57 and a two-hundred day simple moving average of $4.92.

Insiders Place Their Bets

In related news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 13.29 % 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, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. This trade represents a 71.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of 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 acquiring an additional 5,013 shares during the period. Venturi Wealth Management LLC purchased a new position in Hudson Pacific Properties during the third quarter worth approximately $44,000. Stifel Financial Corp acquired a new stake in Hudson Pacific Properties in the third quarter valued at approximately $48,000. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties in the second quarter valued at approximately $53,000. Finally, MQS Management LLC acquired a new position in shares of Hudson Pacific Properties during the 3rd quarter worth approximately $58,000. 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.