Hudson Pacific Properties, Inc. (NYSE:HPP – Get Free Report) CEO Victor J. Coleman sold 100,000 shares of Hudson Pacific Properties stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the sale, the chief executive officer now directly owns 387,451 shares of the company’s stock, valued at approximately $2,006,996.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Hudson Pacific Properties Price Performance
Shares of HPP stock traded down $0.18 on Friday, reaching $4.70. The company had a trading volume of 3,203,846 shares, compared to its average volume of 2,533,010. The business’s 50-day moving average is $5.87 and its 200 day moving average is $6.89. Hudson Pacific Properties, Inc. has a one year low of $4.05 and a one year high of $9.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $663.41 million, a PE ratio of -2.94, a price-to-earnings-growth ratio of 0.62 and a beta of 1.31.
Hudson Pacific Properties (NYSE:HPP – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.53). The company had revenue of $214.02 million during the quarter, compared to the consensus estimate of $220.61 million. Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. Equities research analysts forecast that Hudson Pacific Properties, Inc. will post 0.9 EPS for the current fiscal year.
Hudson Pacific Properties Cuts Dividend
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Morgan Stanley dropped their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Wedbush lowered Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $11.00 to $7.50 in a report on Tuesday, February 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $7.00 price target (down previously from $9.00) on shares of Hudson Pacific Properties in a research note on Friday, May 3rd. Finally, Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price objective on the stock in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.49.
Institutional Trading of Hudson Pacific Properties
A number of hedge funds have recently made changes to their positions in HPP. FMR LLC raised its stake in shares of Hudson Pacific Properties by 6,191.3% during the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock valued at $35,869,000 after acquiring an additional 5,308,032 shares during the last quarter. Deutsche Bank AG raised its position in Hudson Pacific Properties by 2,367.6% during the 3rd quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock worth $28,469,000 after purchasing an additional 4,107,498 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Hudson Pacific Properties by 12.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,097,841 shares of the real estate investment trust’s stock worth $38,151,000 after purchasing an additional 439,331 shares during the last quarter. Waterfront Capital Partners LLC acquired a new position in Hudson Pacific Properties during the 4th quarter worth about $22,848,000. Finally, Allianz Asset Management GmbH grew its position 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 buying an additional 1,124,100 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.
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.
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