Hudson Pacific Properties (NYSE:HPP) Price Target Cut to $27.00

Hudson Pacific Properties (NYSE:HPPGet Rating) had its price target trimmed by The Goldman Sachs Group from $30.00 to $27.00 in a research report sent to investors on Wednesday, The Fly reports. The firm currently has a buy rating on the real estate investment trust’s stock.

HPP has been the topic of several other reports. Piper Sandler cut their price objective on shares of Hudson Pacific Properties from $28.00 to $25.00 in a report on Wednesday, May 4th. StockNews.com began coverage on shares of Hudson Pacific Properties in a report on Thursday, March 31st. They set a hold rating on the stock. Finally, Zacks Investment Research upgraded shares of Hudson Pacific Properties from a sell rating to a hold rating in a report on Wednesday, May 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $27.95.

NYSE:HPP opened at $20.19 on Wednesday. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -168.24, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average is $24.08 and its two-hundred day moving average is $24.96. Hudson Pacific Properties has a 12-month low of $19.34 and a 12-month high of $30.35.

Hudson Pacific Properties (NYSE:HPPGet Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.63). The firm had revenue of $244.51 million during the quarter, compared to analysts’ expectations of $241.98 million. Hudson Pacific Properties had a negative net margin of 1.08% and a negative return on equity of 0.27%. During the same quarter last year, the company posted $0.48 earnings per share. On average, equities research analysts forecast that Hudson Pacific Properties will post 2.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Monday, March 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 18th. This represents a $1.00 annualized dividend and a yield of 4.95%. Hudson Pacific Properties’s payout ratio is -833.26%.

A number of hedge funds and other institutional investors have recently bought and sold shares of HPP. Advisor Group Holdings Inc. grew its position in Hudson Pacific Properties by 9.9% in the third quarter. Advisor Group Holdings Inc. now owns 11,440 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 1,034 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Hudson Pacific Properties by 20.1% during the third quarter. Teacher Retirement System of Texas now owns 24,321 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 4,074 shares in the last quarter. US Bancorp DE grew its position in shares of Hudson Pacific Properties by 15.5% during the third quarter. US Bancorp DE now owns 101,054 shares of the real estate investment trust’s stock worth $2,655,000 after buying an additional 13,543 shares in the last quarter. Wolverine Trading LLC acquired a new stake in shares of Hudson Pacific Properties during the third quarter worth approximately $310,000. Finally, Geode Capital Management LLC grew its position in shares of Hudson Pacific Properties by 3.4% during the third quarter. Geode Capital Management LLC now owns 2,308,617 shares of the real estate investment trust’s stock worth $60,647,000 after buying an additional 75,236 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Hudson Pacific Properties Company Profile (Get Rating)

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

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