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

Hudson Pacific Properties (NYSE:HPPFree Report) had its price target cut by Piper Sandler from $5.00 to $4.50 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on HPP. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. The Goldman Sachs Group reduced their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Scotiabank lowered their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Wells Fargo & Company cut their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group cut Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their target price for the stock from $5.50 to $5.00 in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.17.

Check Out Our Latest Analysis on Hudson Pacific Properties

Hudson Pacific Properties Price Performance

Shares of NYSE HPP traded down $0.29 during trading on Friday, hitting $3.68. The company had a trading volume of 4,272,919 shares, compared to its average volume of 2,405,856. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a fifty-two week low of $3.66 and a fifty-two week high of $9.85. The firm has a market capitalization of $519.73 million, a price-to-earnings ratio of -1.76 and a beta of 1.31. The stock has a fifty day simple moving average of $4.60 and a two-hundred day simple moving average of $4.95.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the sale, the director now owns 3,713 shares of the company’s stock, valued at $19,307.60. This represents a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after acquiring an additional 630,932 shares in the last quarter. Geode Capital Management LLC grew its stake in Hudson Pacific Properties by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock worth $16,381,000 after acquiring an additional 154,101 shares during the period. Millennium Management LLC lifted its stake in shares of Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares during the period. B&I Capital AG boosted its holdings in shares of Hudson Pacific Properties by 23.4% during the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after purchasing an additional 322,033 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Hudson Pacific Properties by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock valued at $6,209,000 after acquiring an additional 43,728 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Company Profile

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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.

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