Hudson Pacific Properties (NYSE:HPP) Shares Up 3%

Hudson Pacific Properties, Inc. (NYSE:HPP)’s stock price was up 3% on Tuesday . The company traded as high as $4.84 and last traded at $4.84. Approximately 157,103 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 2,430,051 shares. The stock had previously closed at $4.70.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HPP shares. Morgan Stanley decreased their target price on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Wolfe Research raised shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target for the company in a research report on Monday, March 18th. The Goldman Sachs Group reduced their price target on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $7.00 price target on shares of Hudson Pacific Properties in a research report on Thursday, June 27th. Two 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.49.

Hudson Pacific Properties Stock Up 3.2 %

The company’s fifty day moving average is $5.12 and its 200-day moving average is $6.64. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.53). Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The business had revenue of $214.02 million during the quarter, compared to the consensus estimate of $220.61 million. Analysts forecast that Hudson Pacific Properties, Inc. will post 0.86 EPS for the current year.

Hudson Pacific Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 4.12%. Hudson Pacific Properties’s payout ratio is -12.50%.

Insiders Place Their Bets

In other news, CEO Victor J. Coleman sold 100,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total transaction of $518,000.00. Following the completion of the transaction, the chief executive officer now directly owns 387,451 shares in the company, valued at approximately $2,006,996.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 13,420 shares of company stock worth $59,912 in the last three months. 3.92% of the stock is owned by company insiders.

Institutional Trading of Hudson Pacific Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Westwood Holdings Group Inc. purchased a new stake in Hudson Pacific Properties in the first quarter worth $258,000. Kennedy Capital Management LLC increased its stake in Hudson Pacific Properties by 50.6% in the first quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock worth $8,000,000 after purchasing an additional 416,591 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Hudson Pacific Properties by 405.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock worth $1,995,000 after purchasing an additional 248,117 shares during the period. Quadrature Capital Ltd purchased a new stake in Hudson Pacific Properties in the first quarter worth $554,000. Finally, Shell Asset Management Co. purchased a new stake in Hudson Pacific Properties in the first quarter worth $107,000. Hedge funds and other institutional investors 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.