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Hudson Pacific Properties, Inc. (NYSE:HPP) Receives Consensus Recommendation of "Hold" From Analysts

Defense World · Sep 29, 2022 02:22

Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) has earned an average recommendation of "Hold" from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.42.

Several research analysts recently commented on HPP shares. Mizuho dropped their target price on shares of Hudson Pacific Properties from $15.00 to $14.00 and set an "underperform" rating on the stock in a report on Wednesday, August 24th. Scotiabank dropped their price objective on shares of Hudson Pacific Properties from $24.00 to $18.00 in a report on Friday, July 8th. Morgan Stanley upgraded shares of Hudson Pacific Properties from an "underweight" rating to an "equal weight" rating and set a $13.00 price objective on the stock in a report on Friday, September 9th. They noted that the move was a valuation call. TheStreet downgraded shares of Hudson Pacific Properties from a "c-" rating to a "d+" rating in a report on Wednesday, June 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Hudson Pacific Properties from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 30th.

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Insider Buying and Selling at Hudson Pacific Properties

In other news, Director Mark David Linehan purchased 7,500 shares of Hudson Pacific Properties stock in a transaction on Friday, September 23rd. The shares were purchased at an average cost of $11.67 per share, for a total transaction of $87,525.00. Following the completion of the transaction, the director now directly owns 60,687 shares in the company, valued at $708,217.29. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jonathan M. Glaser bought 20,000 shares of Hudson Pacific Properties stock in a transaction dated Tuesday, September 20th. The shares were bought at an average cost of $12.28 per share, for a total transaction of $245,600.00. Following the completion of the transaction, the director now owns 21,500 shares of the company's stock, valued at $264,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark David Linehan bought 7,500 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 23rd. The shares were bought at an average price of $11.67 per share, for a total transaction of $87,525.00. Following the completion of the transaction, the director now directly owns 60,687 shares of the company's stock, valued at approximately $708,217.29. The disclosure for this purchase can be found here. Insiders have bought a total of 29,583 shares of company stock worth $357,704 over the last ninety days. Corporate insiders own 3.06% of the company's stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of large investors have recently modified their holdings of the stock. Schroder Investment Management Group raised its stake in shares of Hudson Pacific Properties by 31.4% during the fourth quarter. Schroder Investment Management Group now owns 9,397 shares of the real estate investment trust's stock worth $232,000 after buying an additional 2,245 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $335,000. Wolverine Trading LLC increased its stake in Hudson Pacific Properties by 13.8% in the fourth quarter. Wolverine Trading LLC now owns 13,017 shares of the real estate investment trust's stock valued at $323,000 after purchasing an additional 1,580 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in Hudson Pacific Properties by 5.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 16,113 shares of the real estate investment trust's stock valued at $398,000 after purchasing an additional 852 shares in the last quarter. Finally, ETF Managers Group LLC increased its stake in Hudson Pacific Properties by 5.0% in the fourth quarter. ETF Managers Group LLC now owns 25,505 shares of the real estate investment trust's stock valued at $633,000 after purchasing an additional 1,212 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Up 7.9 %

HPP stock opened at $11.60 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.26. Hudson Pacific Properties has a 1 year low of $10.69 and a 1 year high of $28.66. The company has a fifty day simple moving average of $13.77 and a 200 day simple moving average of $18.58. The firm has a market cap of $1.64 billion, a PE ratio of -61.05, a PEG ratio of 1.21 and a beta of 0.98.

Hudson Pacific Properties (NYSE:HPP – Get Rating) last announced its earnings results on Tuesday, July 26th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.56). The firm had revenue of $251.43 million during the quarter, compared to the consensus estimate of $241.69 million. Hudson Pacific Properties had a negative return on equity of 0.54% and a negative net margin of 2.05%. Sell-side analysts anticipate that Hudson Pacific Properties will post 2.03 EPS for the current fiscal year.

Hudson Pacific Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Monday, September 19th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 8.62%. Hudson Pacific Properties's payout ratio is currently -526.32%.

About Hudson Pacific Properties

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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.