Hudson Pacific Properties (NYSE:HPP) Research Coverage Started at Goldman Sachs Group

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Equities researchers at Goldman Sachs Group began coverage on shares of Hudson Pacific Properties (NYSE:HPP) in a research note issued to investors on Friday, Marketbeat reports. The firm set a “buy” rating and a $41.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s price objective indicates a potential upside of 15.88% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. BTIG Research set a $40.00 price objective on Hudson Pacific Properties and gave the company a “buy” rating in a report on Friday, October 18th. Zacks Investment Research raised Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Saturday, October 19th. Robert W. Baird set a $40.00 price objective on Hudson Pacific Properties and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Barclays set a $42.00 price objective on Hudson Pacific Properties and gave the company a “buy” rating in a report on Friday, October 11th. Seven investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $39.67.

HPP traded down $0.05 during trading on Friday, reaching $35.38. The company’s stock had a trading volume of 362,410 shares, compared to its average volume of 792,830. Hudson Pacific Properties has a 52-week low of $27.12 and a 52-week high of $36.47. The company’s fifty day moving average price is $34.09 and its 200-day moving average price is $34.15. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 3.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.02 and a current ratio of 1.02.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). Hudson Pacific Properties had a net margin of 5.94% and a return on equity of 1.27%. The business had revenue of $208.20 million during the quarter, compared to analysts’ expectations of $204.82 million. During the same period in the prior year, the firm posted $0.47 EPS. Hudson Pacific Properties’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities analysts predict that Hudson Pacific Properties will post 2.02 earnings per share for the current year.

In other news, EVP Sanford Dale Shimoda sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.52, for a total transaction of $177,600.00. Following the sale, the executive vice president now owns 93,971 shares of the company’s stock, valued at approximately $3,337,849.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Glaser purchased 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $33.27 per share, for a total transaction of $33,270.00. Following the purchase, the director now directly owns 127,649 shares in the company, valued at $4,246,882.23. The disclosure for this purchase can be found here. 1.95% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd boosted its stake in shares of Hudson Pacific Properties by 17.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,992 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 601 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Hudson Pacific Properties during the 2nd quarter worth approximately $203,000. M&T Bank Corp purchased a new stake in shares of Hudson Pacific Properties during the 2nd quarter worth approximately $218,000. Comerica Bank boosted its stake in shares of Hudson Pacific Properties by 5.4% during the 3rd quarter. Comerica Bank now owns 7,784 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 398 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Hudson Pacific Properties by 5.3% during the 2nd quarter. Creative Planning now owns 8,038 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 408 shares in the last quarter.

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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