Fintel reports that on September 19, 2023, Goldman Sachs maintained coverage of Hudson Pacific Properties (NYSE:HPP) with a Sell recommendation.

Analyst Price Forecast Suggests 7.13% Downside

As of August 31, 2023, the average one-year price target for Hudson Pacific Properties is 6.22. The forecasts range from a low of 4.04 to a high of $10.50. The average price target represents a decrease of 7.13% from its latest reported closing price of 6.70.

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The projected annual revenue for Hudson Pacific Properties is 1,075MM, an increase of 4.87%. The projected annual non-GAAP EPS is -0.04.

What is the Fund Sentiment?

There are 482 funds or institutions reporting positions in Hudson Pacific Properties. This is a decrease of 34 owner(s) or 6.59% in the last quarter. Average portfolio weight of all funds dedicated to HPP is 0.07%, a decrease of 34.19%. Total shares owned by institutions increased in the last three months by 2.86% to 157,157K shares. The put/call ratio of HPP is 1.98, indicating a bearish outlook.

What are Other Shareholders Doing?

IJR – iShares Core S&P Small-Cap ETF holds 9,029K shares representing 6.42% ownership of the company. In it’s prior filing, the firm reported owning 9,361K shares, representing a decrease of 3.68%. The firm decreased its portfolio allocation in HPP by 40.72% over the last quarter.

Balyasny Asset Management holds 6,896K shares representing 4.90% ownership of the company. In it’s prior filing, the firm reported owning 1,757K shares, representing an increase of 74.53%. The firm increased its portfolio allocation in HPP by 121.10% over the last quarter.

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 6,201K shares representing 4.41% ownership of the company. In it’s prior filing, the firm reported owning 6,319K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in HPP by 46.92% over the last quarter.

Point72 Asset Management holds 4,433K shares representing 3.15% ownership of the company. In it’s prior filing, the firm reported owning 41K shares, representing an increase of 99.07%. The firm increased its portfolio allocation in HPP by 6,468.58% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,403K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 4,400K shares, representing an increase of 0.06%. The firm decreased its portfolio allocation in HPP by 41.41% over the last quarter.

Hudson Pacific Properties Background Information
(This description is provided by the company.)

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 20 million square feet, including land for development. 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. Hudson Pacific is a component of the S&P MidCap 400 Index.

This article originally appeared on Fintel

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