Brokerages Set Hudson Pacific Properties Inc (HPP) Price Target at $39.00

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Hudson Pacific Properties Inc (NYSE:HPP) has earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.00.

A number of analysts recently commented on the stock. TheStreet downgraded shares of Hudson Pacific Properties from a “b” rating to a “c” rating in a report on Friday, May 3rd. Zacks Investment Research raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, April 25th. Goldman Sachs Group raised shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $40.00 in a report on Monday, March 11th. Finally, Sandler O’Neill raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating in a report on Friday, February 15th.

In other Hudson Pacific Properties news, insider Alex Vouvalides sold 43,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $35.10, for a total value of $1,509,300.00. Following the sale, the insider now owns 130,940 shares of the company’s stock, valued at $4,595,994. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark T. Lammas sold 56,835 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $34.42, for a total transaction of $1,956,260.70. Following the completion of the sale, the chief financial officer now directly owns 256,257 shares in the company, valued at approximately $8,820,365.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,591 shares of company stock worth $4,427,861. 1.95% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of Hudson Pacific Properties in the first quarter valued at about $861,000. Macquarie Group Ltd. lifted its holdings in shares of Hudson Pacific Properties by 142.9% in the first quarter. Macquarie Group Ltd. now owns 531,291 shares of the real estate investment trust’s stock valued at $18,287,000 after purchasing an additional 312,586 shares in the last quarter. SEI Investments Co lifted its holdings in shares of Hudson Pacific Properties by 28.9% in the first quarter. SEI Investments Co now owns 545,884 shares of the real estate investment trust’s stock valued at $18,787,000 after purchasing an additional 122,549 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Hudson Pacific Properties by 15.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,181,007 shares of the real estate investment trust’s stock valued at $143,910,000 after purchasing an additional 548,232 shares in the last quarter. Finally, Oxford Asset Management LLP lifted its holdings in shares of Hudson Pacific Properties by 120.6% in the first quarter. Oxford Asset Management LLP now owns 22,355 shares of the real estate investment trust’s stock valued at $769,000 after purchasing an additional 12,219 shares in the last quarter.

HPP stock opened at $34.18 on Thursday. The stock has a market cap of $5.30 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.64 and a beta of 0.72. Hudson Pacific Properties has a 52 week low of $27.12 and a 52 week high of $36.06. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $197.39 million for the quarter, compared to the consensus estimate of $194.62 million. Hudson Pacific Properties had a net margin of 1.68% and a return on equity of 0.33%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, equities analysts predict that Hudson Pacific Properties will post 2 earnings per share for the current year.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. 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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Analyst Recommendations for Hudson Pacific Properties (NYSE:HPP)

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