Hudson Pacific Properties, Inc. (NYSE:HPP – Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $7.40, but opened at $6.87. Hudson Pacific Properties shares last traded at $6.91, with a volume of 1,889,756 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on HPP shares. The Goldman Sachs Group increased their target price on shares of Hudson Pacific Properties from $4.00 to $5.00 and gave the company a “sell” rating in a research report on Tuesday, August 15th. Piper Sandler upgraded shares of Hudson Pacific Properties from a “neutral” rating to an “overweight” rating and increased their target price for the company from $6.00 to $9.00 in a research report on Tuesday, September 5th. Finally, StockNews.com started coverage on shares of Hudson Pacific Properties in a research report on Saturday, August 19th. They issued a “sell” rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.22.
Check Out Our Latest Analysis on HPP
Hudson Pacific Properties Stock Performance
Hudson Pacific Properties (NYSE:HPP – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.49). Hudson Pacific Properties had a negative net margin of 7.74% and a negative return on equity of 2.41%. The business had revenue of $245.17 million for the quarter, compared to the consensus estimate of $237.63 million. As a group, equities analysts forecast that Hudson Pacific Properties, Inc. will post 1.14 earnings per share for the current year.
Institutional Trading of Hudson Pacific Properties
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Hudson Pacific Properties by 0.6% during the second quarter. BlackRock Inc. now owns 24,343,532 shares of the real estate investment trust’s stock valued at $102,730,000 after buying an additional 148,537 shares in the last quarter. Vanguard Group Inc. lifted its stake in Hudson Pacific Properties by 0.7% during the first quarter. Vanguard Group Inc. now owns 22,183,249 shares of the real estate investment trust’s stock valued at $615,584,000 after buying an additional 160,204 shares in the last quarter. Norges Bank purchased a new stake in Hudson Pacific Properties during the fourth quarter valued at about $101,242,000. State Street Corp lifted its stake in Hudson Pacific Properties by 10.6% during the second quarter. State Street Corp now owns 9,164,405 shares of the real estate investment trust’s stock valued at $38,674,000 after buying an additional 875,483 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Hudson Pacific Properties by 265.6% in the first quarter. Prudential Financial Inc. now owns 5,690,962 shares of the real estate investment trust’s stock worth $37,845,000 after purchasing an additional 4,134,472 shares in the last quarter. 97.58% of the stock is owned by hedge funds and other institutional investors.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a real estate company, which acquires, repositions, develops, and operates sustainable office and state of-the-art studio properties in high-barrier-to-entry submarkets in California, the Pacific Northwest, Western Canada, and Greater London, United Kingdom. It operates through the Office Properties and Studio Properties segments.
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