Hudson Pacific Properties (NYSE:HPP) Rating Increased to Outperform at BMO Capital Markets

Hudson Pacific Properties (NYSE:HPP) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $5.00 price target on the real estate investment trust’s stock, up from their prior price target of $4.00. BMO Capital Markets’ price target would suggest a potential upside of 66.33% from the stock’s previous close.

HPP has been the subject of several other research reports. The Goldman Sachs Group decreased their price objective on 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. Jefferies Financial Group initiated coverage on shares of Hudson Pacific Properties in a research note on Monday, March 17th. They set a “hold” rating and a $2.70 target price for the company. Piper Sandler lowered their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Monday, February 24th. Mizuho decreased their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Scotiabank dropped 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 research note on Tuesday, February 18th. Two 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. According to data from MarketBeat, Hudson Pacific Properties presently has a consensus rating of “Hold” and a consensus price target of $3.43.

Hudson Pacific Properties Trading Up 6.2 %

NYSE HPP opened at $3.01 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $424.91 million, a P/E ratio of -1.17 and a beta of 1.31. The firm’s 50-day moving average is $3.03 and its two-hundred day moving average is $3.61. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $6.69.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $209.67 million for the quarter, compared to the consensus estimate of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. On average, sell-side analysts anticipate that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Institutional Trading of Hudson Pacific Properties

Several institutional investors and hedge funds have recently bought and sold shares of the business. Green Alpha Advisors LLC increased its stake in Hudson Pacific Properties by 77.7% in the fourth quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock valued at $1,580,000 after purchasing an additional 228,079 shares during the period. Stifel Financial Corp purchased a new position in shares of Hudson Pacific Properties during the third quarter worth about $48,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hudson Pacific Properties by 450.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock valued at $5,096,000 after acquiring an additional 872,538 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Hudson Pacific Properties during the 4th quarter valued at approximately $436,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Hudson Pacific Properties by 13.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after acquiring an additional 630,932 shares during the period. 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.