Hudson Pacific Properties Inc. (NYSE:HPP) shares traded -5.14% lower at $6.46 on Wall Street last session.
In accordance with the data, 12 analysts cover Hudson Pacific Properties Inc. (NYSE:HPP). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $4.00, we find $6.00. Given the previous closing price of $6.81, this indicates a potential downside of -11.89 percent. HPP stock price is now 3.74% away from the 50-day moving average and -9.45% away from the 200-day moving average. The market capitalization of the company currently stands at $910.47M.
It has been rated a hold by 8 analysts and a buy by 2. Brokers who have rated the stock have averaged $6.80 as their price target over the next twelve months.
With the price target enhanced from $7 to $10, BMO Capital Markets Upgraded its rating from Market Perform to Outperform for Hudson Pacific Properties Inc. (NYSE: HPP).
In other news, Suazo Arthur X., EVP, Leasing bought 10,000 shares of the company’s stock on Mar 28. The stock was bought for $58,600 at an average price of $5.86. Upon completion of the transaction, the EVP, Leasing now directly owns 87,102 shares in the company, valued at $0.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 27, Chief Investment Officer Gordon Drew bought 25,000 shares of the business’s stock. A total of $149,000 was incurred on buying the stock at an average price of $5.96. This leaves the insider owning 116,958 shares of the company worth $0.76 million. Insiders disposed of 12,659 shares of company stock worth roughly $81777.14 over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HPP stock. A new stake in Hudson Pacific Properties Inc. shares was purchased by KENNEDY CAPITAL MANAGEMENT LLC during the first quarter worth $3,017,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC invested $1,938,000 in shares of HPP during the first quarter. In the first quarter, SCION ASSET MANAGEMENT, LLC acquired a new stake in Hudson Pacific Properties Inc. valued at approximately $1,615,000. PURSUE WEALTH PARTNERS LLC acquired a new stake in HPP for approximately $1,582,000. GSA CAPITAL PARTNERS LLP purchased a new stake in HPP valued at around $1,461,000 in the second quarter. In total, there are 353 active investors with 107.78% ownership of the company’s stock.
Hudson Pacific Properties Inc. (NYSE: HPP) opened at $6.90 on Thursday. During the past 12 months, Hudson Pacific Properties Inc. has had a low of $4.05 and a high of $12.48. The fifty day moving average price for HPP is $6.25 and a two-hundred day moving average price translates $7.11 for the stock.
The latest earnings results from Hudson Pacific Properties Inc. (NYSE: HPP) was released for Jun, 2023. According to the REIT – Office Company, earnings per share came in at -$0.26, beating analysts’ expectations of -$0.32 by 0.06. This compares to -$0.05 EPS in the same period last year. The net profit margin was -8.40% and return on equity was -3.00% for HPP. The company reported revenue of $245.17 million for the quarter, compared to $251.43 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.49 percent. For the current quarter, analysts expect HPP to generate $235.62M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/20/2023 were paid a $0.125 dividend.
Hudson Pacific Properties Inc.(HPP) Company Profile
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.
