Hudson Pacific Properties (NYSE:HPP) Rating Lowered to “Hold” at Jefferies Financial Group

Hudson Pacific Properties (NYSE:HPP) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $5.00 target price on the real estate investment trust’s stock, down from their prior target price of $5.50. Jefferies Financial Group’s target price points to a potential upside of 18.34% from the company’s current price.

HPP has been the subject of a number of other reports. Wells Fargo & Company dropped their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Bank of America reduced their price target on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $8.00 to $6.00 in a report on Thursday, August 8th. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Scotiabank lowered their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.30.

Hudson Pacific Properties Stock Performance

NYSE:HPP opened at $4.23 on Tuesday. The firm has a market capitalization of $596.70 million, a PE ratio of -2.02 and a beta of 1.31. The stock’s fifty day moving average is $4.64 and its 200 day moving average is $4.97. Hudson Pacific Properties has a fifty-two week low of $4.04 and a fifty-two week high of $9.85. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47.

Insider Transactions at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now owns 3,713 shares in the company, valued at $19,307.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HPP. Bridgewater Associates LP boosted its stake in Hudson Pacific Properties by 56.2% in the third quarter. Bridgewater Associates LP now owns 24,590 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 8,844 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Hudson Pacific Properties by 16.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 6,704 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Hudson Pacific Properties by 13.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after purchasing an additional 630,932 shares in the last quarter. Intech Investment Management LLC grew its stake in Hudson Pacific Properties by 88.1% during the 3rd quarter. Intech Investment Management LLC now owns 90,267 shares of the real estate investment trust’s stock worth $431,000 after buying an additional 42,276 shares during the last quarter. Finally, Anthracite Investment Company Inc. acquired a new position in shares of Hudson Pacific Properties during the third quarter valued at about $1,320,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

About Hudson Pacific Properties

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.