Piper Sandler Lowers Hudson Pacific Properties Price Target to $3.50

Piper Sandler has recently adjusted its price target for Hudson Pacific Properties (NYSE:HPP) from $4.50 to $3.50, as reported on Monday. The firm has assigned a 'neutral' rating to the real estate investment trust. This new price target suggests an upside potential of approximately 18.85% based on the stock's last closing price.

Other Analysts' Ratings

Hudson Pacific Properties has faced similar downgrades from various analysts. For instance, Scotiabank reduced their target price from $4.00 to $3.00, also giving it a 'sector perform' rating on February 18. Additionally, Jefferies Financial Group cut their price estimate from $3.70 to $3.00, issuing a 'hold' rating on January 2. Mizuho similarly decreased their price target to $3.00 from $5.00, maintaining a 'neutral' stance on the stock as of January 7. Currently, two analysts rate the stock as a 'sell' while eight consider it a 'hold'. Overall, MarketBeat indicates that Hudson Pacific Properties has an average rating of 'Hold', with a consensus price target of $4.44.

Hudson Pacific Properties Stock Performance

On Monday, shares of Hudson Pacific Properties fell by $0.06 to reach $2.95, with 324,253 shares exchanged, which is significantly lower than its average trading volume of 2,728,397 shares. The company's financial metrics include a debt-to-equity ratio of 1.47, a current ratio of 1.26, and a quick ratio of 1.26. Hudson Pacific has a market capitalization of $415.92 million and a price-to-earnings ratio of -1.15. The stock has experienced a 52-week low of $2.39 and a high of $7.20, with a 50-day moving average of $2.97 and a 200-day moving average of $3.94.

Earnings Report

Hudson Pacific Properties reported its earnings results on February 20, announcing earnings per share (EPS) of $0.11, surpassing analysts' expectations of $0.10 by a margin of $0.01. However, the company recorded a negative net margin of 44.01% and a return on equity of -12.64%. In terms of revenue, Hudson Pacific achieved $209.67 million for the quarter, which was above the anticipated $207.95 million. Analysts estimate that the company will earn 0.45 per share in the current year.

Insider Transactions

In related news, CEO Victor J. Coleman purchased 50,000 shares of the company on December 18 at an average price of $2.87 per share. This investment amounted to a total of $143,500, resulting in an 11.43% increase in his ownership stake in Hudson Pacific. Following the purchase, the CEO now directly holds 487,451 shares, valued at approximately $1.4 million. This transaction was documented in a filing with the Securities and Exchange Commission.

Institutional Investments

Several institutional investors have recently modified their positions in Hudson Pacific Properties. For example, Anthracite Investment Company Inc. acquired a new stake valued at about $1.32 million in the third quarter. Green Alpha Advisors LLC increased its holdings by 77.7% in the fourth quarter, owning 521,592 shares after acquiring an additional 228,079 shares. Likewise, Wolverine Asset Management LLC raised its stake by 42.3% and now owns 576,373 shares valued at $2.75 million. Institutional ownership in the company stands at around 97.58%.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust that focuses on serving dynamic tech and media tenants in key locations worldwide. The firm specializes in creating high-quality office and studio spaces by leveraging strategic relationships and industry expertise.

Stocks, Investment, Analysis