Hudson Pacific Properties (NYSE:HPP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Other research analysts have also issued research reports about the company. Citigroup initiated coverage on Hudson Pacific Properties in a report on Tuesday, February 27th. They issued a “buy” rating and a $37.00 target price on the stock. Mizuho restated a “hold” rating and issued a $32.00 target price on shares of Hudson Pacific Properties in a report on Thursday, January 25th. Sandler O’Neill lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Friday, January 12th. Wells Fargo upgraded Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Friday, February 23rd. Finally, Barclays dropped their target price on Hudson Pacific Properties from $42.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $36.88.
Shares of HPP stock traded down $0.21 during trading hours on Wednesday, reaching $32.20. The company’s stock had a trading volume of 704,929 shares, compared to its average volume of 1,086,642. The company has a market capitalization of $5,084.24, a price-to-earnings ratio of 73.18, a P/E/G ratio of 2.75 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. Hudson Pacific Properties has a 1-year low of $28.25 and a 1-year high of $36.14.
Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. Hudson Pacific Properties had a return on equity of 1.81% and a net margin of 10.14%. The company had revenue of $189.33 million for the quarter, compared to analyst estimates of $189.63 million. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. equities research analysts expect that Hudson Pacific Properties will post 1.91 earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. American International Group Inc. bought a new stake in Hudson Pacific Properties during the fourth quarter worth $113,000. MANA Advisors LLC bought a new stake in Hudson Pacific Properties during the fourth quarter worth $280,000. Creative Planning bought a new stake in Hudson Pacific Properties during the fourth quarter worth $317,000. Xact Kapitalforvaltning AB bought a new stake in Hudson Pacific Properties during the fourth quarter worth $353,000. Finally, Cadence Capital Management LLC bought a new stake in Hudson Pacific Properties during the third quarter worth $385,000.
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Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.
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