Credit Suisse Group has upgraded Hudson Pacific Properties (NYSE:HPP) to Neutral.
According to a Thursday report by The Fly, equity research analysts working for Credit Suisse Group changed their rating for Hudson Pacific Properties (NYSE:HPP) from “underperforming” to “neutral” in a report that was distributed on Thursday.
Over the past few years, many analysts from various companies have geared their research projects specifically towards stock price as their primary research topic. The Street lowered its rating for Hudson Pacific Properties from “c-” to “d+” based on research made available to the general public on Wednesday, June 22. In a research report released Wednesday, BTIG Research changed their previous “buy” recommendation for Hudson Pacific Properties to a “neutral rating.” In a research report released Friday, September 9, Morgan Stanley raised its rating on Hudson Pacific Properties shares from “underweight” to “equal weight” and set a price target of $13.00 for the stock. ‘stock. They explained their choice, stating that it stemmed from their assessment of the situation. In a research note released June 22, Bank of America lowered its price target for Hudson Pacific Properties from $25.00 to $20.00 and changed the company’s rating from “buy” to “neutral.” These moves were made in response to the company’s recent stock performance. In a research analysis for Hudson Pacific Properties published Friday, October 7, Piper Sandler called the stock “neutral” and lowered her price target for the company from $17.00 to $13.00. This was the last but not the least of the company’s recent actions. He therefore decided to publish the report. Currently, twelve analysts have given the company a “hold” rating, one analyst has given the company a “buy” rating, and one expert has given the company a “sell” rating. “. Based on information from Bloomberg, the typical recommendation for the stock is “Hold”, and the target price has been set at $17.18.
Starting at $10.20 per share, trading in HPP shares began on Thursday. The stock has traded at a moving average price of $12.59 over the past fifty trading days, while its price has traded at an average of $16.77 over the past 200 trading days . Over the past 52 weeks, the price of a Hudson Pacific Properties share has fluctuated between $9.83 and $28.66. The stock is trading at a price that translates to a PE ratio of -53.68, a P/E/G ratio of 1.68 and a beta coefficient of 1.00. Its market value is $1.44 billion. The current ratio, quick ratio and leverage ratio all sit at 1.91, while the leverage ratio sits at 1.26. All three ratios measure liquidity.
Hudson Pacific Properties’ (NYSE:HPP) latest quarterly earnings report was released on Tuesday, July 26, and the company announced the report’s results. The real estate investment trust (REIT) reported earnings for the quarter of $0.05 per share, $0.56 below the consensus estimate of $0.51 per share. In its financial statements, Hudson Pacific Properties disclosed a negative net margin of 2.05% and a negative return on equity of 0.54%. Revenue for the quarter was $251.43 million, significantly higher than analysts’ forecast of just $241.69 million. According to projections by sell-side analysts, each share of Hudson Pacific Properties will earn $2.03 in earnings in the current fiscal year.
In a similar vein, Hudson Pacific Properties director Jonathan M. Glaser purchased 20,000 shares of the company on Tuesday, September 20. This is one of the most recent events for Hudson Pacific Properties. The total share price was $245,600, which translates to an average price of $12.28 per share. Following the successful completion of the transaction, the director now directly owns 21,500 shares of the company, which have a total value of $264,020. You will be redirected to a document filed with the Securities and Exchange Commission if you click on the link. This document contains information and an explanation of the transaction that has just been completed. In a similar vein, Hudson Pacific Properties President Mark T. Lammas purchased 5,000 shares of the company on Friday, September 30. This transaction occurred as part of other recent developments involving Hudson Pacific Properties. The number of shares was acquired for a total cost of $55,550.00, which equates to an average price of $11.11 per share. As a result of the acquisition, the company’s president now owns 189,865 shares with a combined value of $2,109,400.15. You will be redirected to a document filed with the Securities and Exchange Commission if you click on the link. This document contains information and an explanation of the transaction that has just been completed. Additionally, on September 20, director Jonathan M. Glaser purchased an additional 20,000 shares of the company for his investment portfolio. Again, the total stock price came in at $245,600, which equates to an average price of $12.28 per share. Following the successful acquisition, the director was vested with ownership of 21,500 shares of the company. The total value of these shares is $264,020. You should look here if you are looking for disclosure that relates to this transaction. Company insiders have purchased 38,930 shares of the company in the past three months, spending a combined total of $461,550 to do so. Insiders of the company hold control of 3.02% of the total number of shares outstanding.
The past few months have seen several hedge funds adjust the percentage of their respective portfolios devoted to HPP. The first three months of 2018 saw a 195.2% increase in the number of Hudson Pacific properties included in the portfolio of properties held by Waterfront Capital Partners LLC. Following the acquisition of an additional 1,779,152 shares during the above period, Waterfront Capital Partners LLC now owns a total of 2,690,681 shares of the real estate investment trust, valued at $74,666,000. These shares were acquired as part of the above transaction. The Bank of America Corp. DE increased the proportion of Hudson Pacific Properties it held from 43.9% in the first three months of 2018. Bank of America Corp DE now owns a total of 3,485,026 shares of the real estate investment trust, which have a value of $96,709,000 following the purchase of 1,063,599 additional shares during the most recent quarter. These shares have a value of $96,709,000. AQR Capital Management LLC increased the proportion of Hudson Pacific Properties, in which it held an investment, by 1124% during the second quarter. AQR Capital Management LLC now owns 1,742,303 shares of the real estate investment trust due to the purchase of an additional 921,870 shares during the last quarter. This gives the business a value of $25,577,000. State Street Corporation increased its stake in Hudson Pacific Properties by 12.0% in the first three months of 2018. State Street Corporation now owns 8,287,870 real estate investment trust shares following the purchase of an additional 885,181 shares during the last trimester. State Street Corporation’s REIT shares are currently worth $229,988,000. Additionally, during the second quarter of the fiscal year, Cubist Systematic Strategies LLC experienced a 1,317.7% increase in the amount of Hudson Pacific properties it held in its portfolio. Following the purchase of an additional 802,832 shares during the last quarter, Cubist Systematic Strategies LLC now owns a total of 863,761 shares of the real estate investment trust. These shares have a total value of $12,818,000 since the company acquired these shares during the last quarter. 97.54% of the company’s shares are held in institutional portfolios, including those of hedge funds and other types of institutional investors.
The real estate investment trust known as Hudson Pacific has over 19 million square feet of studio and office space as part of its holdings. This is in addition to the fact that the trust develops land. Major tenants include Fortune 500 companies and well-known companies experiencing rapid expansion, such as Netflix, Google, Square, and Uber, among others. In addition, targeted efforts are being made to highlight key media, technology and innovation hubs located along the West Coast.