Scotiabank Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $3.00

Hudson Pacific Properties (NYSE:HPP) had its price objective reduced by equities research analysts at Scotiabank from $4.00 to $3.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target suggests a potential upside of 2.56% from the stock’s current price.

HPP has been the subject of a number of other research reports. Jefferies Financial Group lowered their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Mizuho cut their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.80.

Hudson Pacific Properties Stock Up 4.8 %

Shares of NYSE:HPP traded up $0.14 during trading on Tuesday, hitting $2.93. 2,194,621 shares of the company’s stock traded hands, compared to its average volume of 2,705,120. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a 52 week low of $2.39 and a 52 week high of $7.20. The company has a 50-day moving average price of $2.99 and a 200-day moving average price of $4.00. The company has a market cap of $413.10 million, a price-to-earnings ratio of -1.40 and a beta of 1.30.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $3.53 per share, for a total transaction of $176,500.00. Following the purchase, the chief executive officer now owns 437,451 shares in the company, valued at approximately $1,544,202.03. The trade was a 12.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Several large investors have recently modified their holdings of HPP. Balyasny Asset Management L.P. boosted its holdings in shares of Hudson Pacific Properties by 265.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after buying an additional 7,303,472 shares during the period. Millennium Management LLC grew its position in shares of Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after purchasing an additional 5,554,444 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Hudson Pacific Properties by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after purchasing an additional 458,783 shares during the period. Legal & General Group Plc lifted its holdings in Hudson Pacific Properties by 0.5% during the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after purchasing an additional 21,320 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Hudson Pacific Properties by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock valued at $10,572,000 after purchasing an additional 61,868 shares during the period. 97.58% of the stock is owned by institutional investors.

Hudson Pacific Properties Company Profile

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.