Hudson Pacific Properties (NYSE:HPP) Shares Gap Up to $4.77

Hudson Pacific Properties, Inc. (NYSE:HPP) shares gapped up prior to trading on Friday . The stock had previously closed at $4.77, but opened at $4.92. Hudson Pacific Properties shares last traded at $4.82, with a volume of 86,227 shares traded.

Analyst Ratings Changes

HPP has been the subject of several analyst reports. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Morgan Stanley cut Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $6.00 to $4.25 in a research note on Wednesday, July 10th. The Goldman Sachs Group reduced their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their price target 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.95.

Hudson Pacific Properties Price Performance

The stock has a market cap of $661.97 million, a PE ratio of -2.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31. The stock’s fifty day moving average is $5.14 and its 200-day moving average is $5.36. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The business had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.08 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s revenue was down 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Hudson Pacific Properties, Inc. will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction that occurred 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 directly owns 3,713 shares in the company, valued at approximately $19,307.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPP. GRS Advisors LLC acquired a new position in Hudson Pacific Properties during the fourth quarter worth approximately $18,489,000. Millennium Management LLC grew its holdings in shares of Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC acquired a new position in Hudson Pacific Properties in the 2nd quarter valued at about $5,505,000. Allianz Asset Management GmbH grew its stake in shares of Hudson Pacific Properties by 114.3% in the 4th quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock valued at $19,621,000 after purchasing an additional 1,124,100 shares during the last quarter. Finally, Davis Selected Advisers raised its stake in shares of Hudson Pacific Properties by 78.0% during the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock worth $5,890,000 after purchasing an additional 536,540 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

Hudson Pacific Properties Company Profile

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.