Hudson Pacific Properties (NYSE:HPP) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Hudson Pacific Properties (NYSE:HPP – Get Rating) from a hold rating to a sell rating in a report released on Saturday.

A number of other brokerages have also issued reports on HPP. BTIG Research lowered shares of Hudson Pacific Properties from a buy rating to a neutral rating in a report on Wednesday, October 19th. Morgan Stanley dropped their price objective on shares of Hudson Pacific Properties from $13.00 to $10.00 and set an equal weight rating for the company in a report on Wednesday, November 23rd. Robert W. Baird raised shares of Hudson Pacific Properties from a neutral rating to an outperform rating and decreased their target price for the company from $13.00 to $12.00 in a research report on Thursday, January 5th. Credit Suisse Group raised shares of Hudson Pacific Properties from an underperform rating to a neutral rating and decreased their target price for the company from $16.00 to $12.00 in a research report on Thursday, October 20th. Finally, Piper Sandler decreased their target price on shares of Hudson Pacific Properties from $17.00 to $13.00 and set a neutral rating for the company in a research report on Friday, October 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $14.64.

Hudson Pacific Properties Stock Down 1.5 %

HPP stock opened at $10.11 on Friday. The stock has a market capitalization of $1.42 billion, a P/E ratio of -40.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.34. Hudson Pacific Properties has a 12 month low of $9.10 and a 12 month high of $28.66. The firm has a 50-day moving average price of $10.27 and a 200-day moving average price of $11.87.

Hudson Pacific Properties (NYSE:HPP – Get Rating) last posted its earnings results on Wednesday, November 2nd. The real estate investment trust reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.63). The company had revenue of $260.35 million during the quarter, compared to the consensus estimate of $252.59 million. Hudson Pacific Properties had a negative return on equity of 0.79% and a negative net margin of 2.79%. As a group, equities research analysts anticipate that Hudson Pacific Properties will post 2.02 EPS for the current fiscal year.

Hudson Pacific Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Monday, December 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.89%. The ex-dividend date of this dividend was Friday, December 16th. Hudson Pacific Properties’s dividend payout ratio is currently -400.00%.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently modified their holdings of HPP. BlackRock Inc. lifted its holdings in shares of Hudson Pacific Properties by 31.9% in the 3rd quarter. BlackRock Inc. now owns 22,812,665 shares of the real estate investment trust’s stock worth $249,799,000 after purchasing an additional 5,516,360 shares in the last quarter. PGGM Investments bought a new position in Hudson Pacific Properties during the 3rd quarter valued at $40,154,000. Bank of America Corp DE lifted its stake in Hudson Pacific Properties by 43.9% during the 1st quarter. Bank of America Corp DE now owns 3,485,026 shares of the real estate investment trust’s stock valued at $96,709,000 after acquiring an additional 1,063,599 shares in the last quarter. AQR Capital Management LLC lifted its stake in Hudson Pacific Properties by 112.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,742,303 shares of the real estate investment trust’s stock valued at $25,577,000 after acquiring an additional 921,870 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its stake in Hudson Pacific Properties by 7,565.9% during the 3rd quarter. ExodusPoint Capital Management LP now owns 914,315 shares of the real estate investment trust’s stock valued at $10,012,000 after acquiring an additional 902,388 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors.

Hudson Pacific Properties Company Profile

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Hudson Pacific Properties, Inc is a real estate company. It owns, operates, develops and acquires office, media, and entertainment properties. The company operates through two segments: Office Properties and Studio Properties. The Office Properties segment manages office properties located in California and Pacific Northwest.