Hudson Pacific Properties Target of Unusually Large Options Trading (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) was the target of some unusual options trading activity on Friday. Stock traders bought 2,404 call options on the stock. This is an increase of 50% compared to the average daily volume of 1,600 call options.

Hudson Pacific Properties Price Performance

NYSE HPP opened at $2.98 on Friday. The company has a market cap of $420.53 million, a price-to-earnings ratio of -1.16 and a beta of 1.31. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s fifty day moving average price is $3.02 and its 200 day moving average price is $3.60. Hudson Pacific Properties has a 1 year low of $2.39 and a 1 year high of $6.69.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. The business had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. As a group, equities research analysts forecast that Hudson Pacific Properties will post 0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HPP. BMO Capital Markets raised shares of Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $4.00 to $5.00 in a research report on Friday. Jefferies Financial Group assumed coverage on Hudson Pacific Properties in a research report on Monday, March 17th. They set a “hold” rating and a $2.70 price target on the stock. Morgan Stanley decreased their price objective on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating for the company in a report on Tuesday, March 18th. Piper Sandler dropped their target price on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Finally, Scotiabank decreased their price target on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average target price of $3.43.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. boosted its stake in shares of Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after buying an additional 7,303,472 shares during the last quarter. Millennium Management LLC lifted its holdings in Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after acquiring an additional 5,554,444 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Hudson Pacific Properties by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after purchasing an additional 458,783 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Hudson Pacific Properties by 0.5% during the 4th quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after purchasing an additional 21,320 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Hudson Pacific Properties by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock valued at $10,572,000 after purchasing an additional 61,868 shares in the last quarter. 97.58% of the stock is owned by hedge funds and other institutional investors.

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.