Morgan Stanley Cuts Hudson Pacific Properties (NYSE:HPP) Price Target to $2.25

by · The Cerbat Gem

Hudson Pacific Properties (NYSE:HPP – Free Report) had its price objective reduced by Morgan Stanley from $2.40 to $2.25 in a research report report published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

HPP has been the subject of several other research reports. Scotiabank cut their price objective 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. The Goldman Sachs Group dropped their target price on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Piper Sandler dropped their target price 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. Jefferies Financial Group initiated coverage on Hudson Pacific Properties in a research report on Monday. They issued a “hold” rating and a $2.70 target price for the company. Finally, Mizuho dropped their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.54.

Read Our Latest Research Report on Hudson Pacific Properties

Hudson Pacific Properties Stock Up 2.2 %

Shares of NYSE HPP opened at $3.01 on Tuesday. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $6.82. 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 firm has a market capitalization of $424.77 million, a price-to-earnings ratio of -1.17 and a beta of 1.31. The business has a 50-day moving average of $3.01 and a 200-day moving average of $3.69.

Hudson Pacific Properties (NYSE:HPP – Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping the consensus estimate 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 company had revenue of $209.67 million during the quarter, compared to analyst estimates of $207.95 million. Sell-side analysts expect that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Hudson Pacific Properties

Several hedge funds and other institutional investors have recently bought and sold shares of HPP. Sumitomo Mitsui Trust Group Inc. lifted its position in Hudson Pacific Properties by 12.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 154,433 shares of the real estate investment trust’s stock valued at $738,000 after purchasing an additional 16,602 shares during the last quarter. Metis Global Partners LLC purchased a new position in shares of Hudson Pacific Properties during the third quarter valued at approximately $66,000. Thrivent Financial for Lutherans increased its stake in shares of Hudson Pacific Properties by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock valued at $529,000 after buying an additional 5,448 shares during the period. Anthracite Investment Company Inc. purchased a new position in shares of Hudson Pacific Properties during the third quarter valued at approximately $1,320,000. Finally, Intech Investment Management LLC increased its stake in shares of Hudson Pacific Properties by 88.1% during the third quarter. Intech Investment Management LLC now owns 90,267 shares of the real estate investment trust’s stock valued at $431,000 after buying an additional 42,276 shares during the period. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Company Profile

(Get Free Report)

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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