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UPDATE: Morgan Stanley Raises PT to $16 on Hudson Pacific Properties;

Related HPP
UPDATE: Hudson Pacific Properties, Inc. Announces Public Offering of 3.5M Shares of Common Stock by Selling Stockholders
Morgan Stanley Sees 2014 as Transitional Year for Hudson Pacific Properties

Morgan Stanley increases its price target on Hudson Pacific Properties (NYSE: HPP) from $15 to $16 as it reiterates an Equal-weight rating on shares.

Morgan Stanley comments, "We raise our price target by $1, to $16, as HPP announced two new acquisitions and closed an 11.5M share offering. Together, these efforts scale HPP's platform and raise future earnings. We estimate stabilized FFO/shr may approach $1.20, which could support an ~$0.80 dividend ($0.50 currently)."

HPP closed at $15.61 on Tuesday.

Posted-In: Morgan StanleyAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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