The Goldman Sachs Group Has Lowered Expectations for Hudson Pacific Properties (NYSE:HPP) Stock Price

Hudson Pacific Properties (NYSE:HPP) had its price objective lowered by The Goldman Sachs Group from $3.90 to $3.40 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler dropped their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Monday. Jefferies Financial Group lowered their price target 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 lowered their price target on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Scotiabank lowered their price target on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.31.

Hudson Pacific Properties Price Performance

HPP opened at $3.07 on Tuesday. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $7.20. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The business’s fifty day simple moving average is $2.97 and its 200-day simple moving average is $3.91. The company has a market capitalization of $432.87 million, a price-to-earnings ratio of -1.19 and a beta of 1.30.

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

Insider Buying and Selling at Hudson Pacific Properties

In related news, CEO Victor J. Coleman purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the acquisition, the chief executive officer now owns 487,451 shares of the company’s stock, valued at $1,398,984.37. The trade was a 11.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HPP. Balyasny Asset Management L.P. lifted its holdings in Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after acquiring an additional 7,303,472 shares during the period. Millennium Management LLC raised its stake in shares of Hudson Pacific Properties by 303.5% during the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after buying an additional 5,554,444 shares during the period. Marshall Wace LLP raised its stake in shares of Hudson Pacific Properties by 853.2% during the 4th quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust’s stock worth $5,590,000 after buying an additional 1,651,382 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Hudson Pacific Properties by 95.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust’s stock worth $7,895,000 after buying an additional 1,275,236 shares during the period. Finally, Davis Selected Advisers raised its stake in shares of Hudson Pacific Properties by 88.0% during the 4th quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock worth $6,911,000 after buying an additional 1,067,940 shares during the period. 97.58% of the stock is owned by institutional investors and hedge funds.

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.