Hudson Pacific Properties (NYSE:HPP) Raised to “Hold” at Zacks Investment Research

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Hudson Pacific Properties (NYSE:HPPGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring office properties and media and entertainment properties in select growth markets primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company is headquartered in Los Angeles, California. “

HPP has been the subject of a number of other research reports. The Goldman Sachs Group lowered their price objective on Hudson Pacific Properties from $32.00 to $28.00 in a research report on Thursday, January 27th. StockNews.com initiated coverage on shares of Hudson Pacific Properties in a report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler lowered their target price on shares of Hudson Pacific Properties from $28.00 to $25.00 in a research note on Wednesday, May 4th. Robert W. Baird lowered shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and cut their price target for the company from $32.00 to $29.00 in a research note on Wednesday, January 12th. Finally, Mizuho downgraded shares of Hudson Pacific Properties from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $29.00 to $24.50 in a research note on Thursday, January 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Hudson Pacific Properties presently has an average rating of “Hold” and an average target price of $28.05.

Shares of HPP stock opened at $20.63 on Wednesday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -171.90, a PEG ratio of 2.50 and a beta of 0.87. The company’s 50 day moving average is $25.82 and its 200 day moving average is $25.49. The company has a quick ratio of 1.54, a current ratio of 1.51 and a debt-to-equity ratio of 1.18. Hudson Pacific Properties has a 52-week low of $20.29 and a 52-week high of $30.35.

Hudson Pacific Properties (NYSE:HPPGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.63). Hudson Pacific Properties had a negative net margin of 1.08% and a negative return on equity of 0.27%. During the same quarter in the previous year, the business earned $0.48 EPS. Analysts anticipate that Hudson Pacific Properties will post 2.05 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Private Capital Group LLC lifted its stake in shares of Hudson Pacific Properties by 240.1% in the 1st quarter. Private Capital Group LLC now owns 942 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 665 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Hudson Pacific Properties in the 3rd quarter valued at $47,000. Rockefeller Capital Management L.P. lifted its stake in shares of Hudson Pacific Properties by 20.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,923 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 851 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in Hudson Pacific Properties during the third quarter worth $135,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Hudson Pacific Properties by 779.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,019 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 7,107 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

About Hudson Pacific Properties (Get Rating)

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

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