Hudson Pacific Properties Inc. (HPP) Shares Up 0.9%
Hudson Pacific Properties Inc. (NYSE:HPP) shot up 0.9% on Wednesday . The stock traded as high as $33.57 and last traded at $33.45, with a volume of 398,395 shares changing hands. The stock had previously closed at $33.15.
Several research firms have weighed in on HPP. Robert W. Baird began coverage on shares of Hudson Pacific Properties in a research note on Thursday, June 30th. They issued an “outperform” rating and a $38.00 price target for the company. Mizuho lifted their price target on shares of Hudson Pacific Properties from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, May 6th. Barclays PLC lifted their price objective on shares of Hudson Pacific Properties from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, July 19th. Zacks Investment Research cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. Finally, BTIG Research began coverage on shares of Hudson Pacific Properties in a report on Thursday, August 25th. They set a “buy” rating and a $38.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $36.00.
The firm has a 50-day moving average of $32.85 and a 200-day moving average of $29.46. The stock’s market cap is $3.18 billion.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business earned $154.30 million during the quarter, compared to analysts’ expectations of $151.59 million. On average, equities analysts predict that Hudson Pacific Properties Inc. will post $1.76 EPS for the current year.
In other Hudson Pacific Properties news, Director Richard B. Fried sold 804,627 shares of Hudson Pacific Properties stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $30.32, for a total transaction of $24,396,290.64. Following the transaction, the director now owns 20,559 shares of the company’s stock, valued at $623,348.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in Hudson Pacific Properties stock. Ameriprise Financial Inc. increased its stake in shares of Hudson Pacific Properties Inc. (NYSE:HPP) by 37.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 71,913 shares of the real estate investment trust’s stock after buying an additional 19,404 shares during the period. Ameriprise Financial Inc. owned 0.08% of Hudson Pacific Properties worth $2,024,000 at the end of the most recent reporting period.
Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.
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