Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Sells 100,000 Shares

Hudson Pacific Properties, Inc. (NYSE:HPP) 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) 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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Monday, June 17th. Hudson Pacific Properties’s dividend payout ratio (DPR) is -12.50%.

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.