BMO Capital Downgrades Hudson Pacific Properties (HPP) to Market Perform

BMO Capital analyst John P. Kim downgraded Hudson Pacific Properties (NYSE: HPP) from Outperform to Market Perform with a price target of $11.00 (from $16.00).

The analyst comments: "In conjunction with our 2026 REIT Outlook, we downgrade HPP to Market Perform with a revised price target of $11. While HPP can take steps to realize value, uncertainty remains on the recovery of its studio business, including an upcoming NFLX lease expiration and CMBS maturity. HPP has had solid leasing momentum, but we estimate it pays the highest concessions (TIs/LCs and free rent) in our office coverage, at 27.4% vs. 22.6% for the office sector. We see HPP continuing to trade below fundamental valuation until earnings grow consistently."

For an analyst ratings summary and ratings history on Hudson Pacific Properties click here. For more ratings news on Hudson Pacific Properties click here.

Shares of Hudson Pacific Properties closed at $10.08 yesterday.

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