Piper Sandler Downgrades BXP, Hudson Pacific Properties, and Newmark Ahead of Q3 Earnings
Piper Sandler downgraded Boston Properties (BXP), Hudson Pacific Properties (HPP), and Newmark Group (NMRK) to Neutral from Overweight ahead of their third-quarter earnings reports. The downgrade comes as investors await the companies' quarterly results, which could provide insight into performance amid ongoing market conditions affecting real estate and financial services sectors. In early trading on Monday, BXP shares fell 1.40% to $58.37 per share, HPP dropped sharply by -6.70% to $9.61, and NMRK declined by -2.11% to $11.61. The market reaction suggests investor caution ahead of the earnings reports. The downgrade reflects a shift in Piper Sandler's outlook for these firms as they prepare to report their Q3 results.
