Mizuho Upgrades Hudson Pacific Properties (NYSE:HPP) to Buy

Hudson Pacific Properties (NYSE:HPP) was upgraded by research analysts at Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $42.00 target price on the real estate investment trust’s stock. Mizuho’s price target would suggest a potential upside of 17.32% from the company’s current price.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. ValuEngine lowered shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. BTIG Research set a $40.00 price objective on shares of Hudson Pacific Properties and gave the company a “buy” rating in a research note on Friday, October 18th. Goldman Sachs Group began coverage on shares of Hudson Pacific Properties in a report on Friday, November 8th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Barclays set a $42.00 price target on shares of Hudson Pacific Properties and gave the company a “buy” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $40.57.

NYSE:HPP opened at $35.80 on Wednesday. The firm has a market cap of $5.54 billion, a P/E ratio of 19.25, a P/E/G ratio of 3.06 and a beta of 0.65. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.02 and a current ratio of 1.02. Hudson Pacific Properties has a fifty-two week low of $29.98 and a fifty-two week high of $37.90. The firm has a 50-day simple moving average of $36.31 and a two-hundred day simple moving average of $34.74.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The firm had revenue of $208.20 million for the quarter, compared to the consensus estimate of $204.82 million. Hudson Pacific Properties had a net margin of 5.94% and a return on equity of 1.27%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, equities research analysts predict that Hudson Pacific Properties will post 2.03 EPS for the current year.

In other news, EVP Sanford Dale Shimoda sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.52, for a total transaction of $177,600.00. Following the sale, the executive vice president now owns 93,971 shares of the company’s stock, valued at approximately $3,337,849.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.95% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HPP. Quantum Capital Management purchased a new position in shares of Hudson Pacific Properties in the third quarter worth approximately $51,000. Point72 Hong Kong Ltd boosted its holdings in shares of Hudson Pacific Properties by 17.7% in the second quarter. Point72 Hong Kong Ltd now owns 3,992 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 601 shares during the last quarter. Comerica Bank boosted its holdings in shares of Hudson Pacific Properties by 5.4% in the third quarter. Comerica Bank now owns 7,784 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 398 shares during the last quarter. Ellington Management Group LLC purchased a new position in shares of Hudson Pacific Properties in the second quarter worth approximately $329,000. Finally, Profund Advisors LLC boosted its holdings in shares of Hudson Pacific Properties by 17.9% in the second quarter. Profund Advisors LLC now owns 10,457 shares of the real estate investment trust’s stock worth $348,000 after buying an additional 1,589 shares during the last quarter.

About Hudson Pacific Properties

Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

Further Reading: Cash Flow

Analyst Recommendations for Hudson Pacific Properties (NYSE:HPP)

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