Hudson Pacific Properties (NYSE:HPP) Shares Gap Down on Analyst Downgrade

Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating)’s share price gapped down before the market opened on Friday after Wells Fargo & Company lowered their price target on the stock from $10.00 to $7.00. The stock had previously closed at $6.95, but opened at $6.59. Wells Fargo & Company currently has an equal weight rating on the stock. Hudson Pacific Properties shares last traded at $6.41, with a volume of 368,628 shares traded.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird raised shares of Hudson Pacific Properties from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $13.00 to $12.00 in a research note on Thursday, January 5th. Morgan Stanley dropped their price target on shares of Hudson Pacific Properties from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 23rd. Mizuho dropped their price target on shares of Hudson Pacific Properties from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, January 4th. Finally, StockNews.com started coverage on shares of Hudson Pacific Properties in a research report on Thursday. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Hudson Pacific Properties presently has an average rating of “Hold” and an average target price of $14.36.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently bought and sold shares of HPP. HighTower Advisors LLC grew its holdings in shares of Hudson Pacific Properties by 3.4% during the first quarter. HighTower Advisors LLC now owns 18,542 shares of the real estate investment trust’s stock valued at $514,000 after buying an additional 612 shares during the last quarter. Cibc World Markets Corp grew its holdings in shares of Hudson Pacific Properties by 0.9% during the first quarter. Cibc World Markets Corp now owns 76,876 shares of the real estate investment trust’s stock valued at $2,133,000 after buying an additional 651 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Hudson Pacific Properties by 3.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,088 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 994 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Hudson Pacific Properties by 10.9% during the fourth quarter. Captrust Financial Advisors now owns 12,625 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 1,246 shares during the last quarter. Finally, AXA S.A. grew its holdings in shares of Hudson Pacific Properties by 1.1% during the third quarter. AXA S.A. now owns 127,117 shares of the real estate investment trust’s stock valued at $1,392,000 after buying an additional 1,440 shares during the last quarter. 95.57% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Price Performance

The company has a debt-to-equity ratio of 1.40, a current ratio of 2.21 and a quick ratio of 2.21. The business’s fifty day moving average price is $9.81 and its 200-day moving average price is $10.61. The stock has a market capitalization of $871.75 million, a price-to-earnings ratio of -15.85 and a beta of 1.11.

Hudson Pacific Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Monday, March 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 16.18%. The ex-dividend date is Friday, March 17th. Hudson Pacific Properties’s payout ratio is currently -256.40%.

About Hudson Pacific Properties

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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.