Hudson Pacific Properties (NYSE:HPP) Shares Down 4.7%

Hudson Pacific Properties, Inc. (NYSE:HPP)’s share price traded down 4.7% during trading on Friday . The company traded as low as $4.82 and last traded at $4.82. 785,822 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,422,936 shares. The stock had previously closed at $5.06.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HPP shares. Morgan Stanley dropped 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. The Goldman Sachs Group dropped their target price on 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. Piper Sandler restated an “overweight” rating and set a $7.00 target price on shares of Hudson Pacific Properties in a research report on Thursday, June 27th. Finally, Wolfe Research upgraded Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price for the company in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.49.

Hudson Pacific Properties Stock Down 4.0 %

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $685.99 million, a price-to-earnings ratio of -3.13, a PEG ratio of 0.65 and a beta of 1.32. The firm has a 50-day moving average price of $5.07 and a two-hundred day moving average price of $6.60.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data 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). The firm had revenue of $214.02 million for the quarter, compared to analyst estimates of $220.61 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. As a group, sell-side analysts anticipate that Hudson Pacific Properties, Inc. will post 0.86 earnings per share for the current fiscal year.

Hudson Pacific Properties Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Monday, June 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 4.12%. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently -12.50%.

Insider Activity at Hudson Pacific Properties

In related 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 of the company’s stock, valued at $2,006,996.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 13,420 shares of company stock valued at $59,912. Insiders own 3.92% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. increased its stake in shares of Hudson Pacific Properties by 103,925.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 4,157 shares during the period. Tower Research Capital LLC TRC increased its stake in Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 2,286 shares during the period. Versor Investments LP bought a new position in Hudson Pacific Properties during the 4th quarter worth $99,000. Spirit of America Management Corp NY bought a new position in Hudson Pacific Properties during the 4th quarter worth $102,000. Finally, GAMMA Investing LLC bought a new position in Hudson Pacific Properties during the 4th quarter worth $102,000. Institutional investors own 97.58% of the company’s stock.

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.