Zacks Investment Research upgraded shares of Hudson Pacific Properties, Inc. (NYSE:HPP) from a sell rating to a hold rating in a report released on Monday.
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. “
A number of other brokerages have also recently commented on HPP. Morgan Stanley reduced their price target on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an overweight rating on the stock in a research report on Friday, September 1st. KeyCorp reiterated a buy rating and set a $39.00 price target on shares of Hudson Pacific Properties in a research report on Friday, August 25th. BidaskClub upgraded shares of Hudson Pacific Properties from a strong sell rating to a sell rating in a research report on Thursday, August 17th. Barclays PLC increased their price target on shares of Hudson Pacific Properties from $40.00 to $41.00 and gave the company an overweight rating in a research report on Tuesday, August 15th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of Hudson Pacific Properties in a research report on Tuesday, September 19th. They set a buy rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $37.79.
Hudson Pacific Properties (NYSE HPP) opened at $35.03 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.40. The firm has a market cap of $5,434.04, a P/E ratio of 18.14, a P/E/G ratio of 3.11 and a beta of 0.77. Hudson Pacific Properties has a 52-week low of $31.52 and a 52-week high of $36.75.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $190.02 million for the quarter, compared to analysts’ expectations of $183.37 million. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. Hudson Pacific Properties’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. analysts anticipate that Hudson Pacific Properties will post 1.96 EPS for the current year.
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In related news, Director Jonathan M. Glaser acquired 15,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $31.78 per share, with a total value of $476,700.00. Following the completion of the purchase, the director now owns 132,405 shares in the company, valued at approximately $4,207,830.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Forsta AP Fonden boosted its stake in shares of Hudson Pacific Properties by 199.4% during the second quarter. Forsta AP Fonden now owns 51,500 shares of the real estate investment trust’s stock valued at $1,761,000 after purchasing an additional 34,300 shares during the period. State of Wisconsin Investment Board purchased a new stake in shares of Hudson Pacific Properties during the second quarter valued at approximately $1,064,000. UBS Asset Management Americas Inc. boosted its stake in shares of Hudson Pacific Properties by 13.7% during the second quarter. UBS Asset Management Americas Inc. now owns 471,746 shares of the real estate investment trust’s stock valued at $16,129,000 after purchasing an additional 56,778 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Hudson Pacific Properties by 27.3% during the second quarter. TIAA CREF Investment Management LLC now owns 691,880 shares of the real estate investment trust’s stock valued at $23,655,000 after purchasing an additional 148,295 shares during the period. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Hudson Pacific Properties during the second quarter valued at approximately $792,000.
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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