Hudson Pacific Properties (NYSE:HPP) Trading Up 3.6%

Hudson Pacific Properties, Inc. (NYSE:HPP)’s stock price traded up 3.6% during trading on Wednesday . The company traded as high as $5.25 and last traded at $5.25. 294,735 shares were traded during trading, a decline of 88% from the average session volume of 2,394,131 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HPP. Morgan Stanley cut Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $6.00 to $4.25 in a report on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Finally, BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.95.

Hudson Pacific Properties Price Performance

The company has a market capitalization of $746.66 million, a PE ratio of -3.31, a PEG ratio of 0.84 and a beta of 1.31. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The company’s 50 day moving average price is $5.21 and its 200-day moving average price is $5.45.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). The firm had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $216.08 million. Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. Hudson Pacific Properties’s revenue was down 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. On average, sell-side analysts forecast that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Activity at Hudson Pacific Properties

In other news, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently modified their holdings of the stock. Silver Lake Advisory LLC acquired a new position in shares of Hudson Pacific Properties during the second quarter worth $145,000. Algert Global LLC lifted its holdings in Hudson Pacific Properties by 0.7% in the 2nd quarter. Algert Global LLC now owns 954,042 shares of the real estate investment trust’s stock worth $4,589,000 after buying an additional 7,047 shares in the last quarter. Scion Asset Management LLC purchased a new position in Hudson Pacific Properties in the 2nd quarter valued at about $5,505,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Hudson Pacific Properties during the second quarter valued at about $1,563,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Hudson Pacific Properties by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock worth $402,000 after acquiring an additional 2,408 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.