Hudson Pacific Properties (NYSE:HPP) Stock Price Up 6.3%

Hudson Pacific Properties, Inc. (NYSE:HPP)’s stock price rose 6.3% on Thursday . The company traded as high as $5.19 and last traded at $5.07. Approximately 363,354 shares changed hands during trading, a decline of 85% from the average daily volume of 2,428,384 shares. The stock had previously closed at $4.77.

Analyst Upgrades and Downgrades

HPP has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price 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. 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. Morgan Stanley lowered shares of Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $6.00 to $4.25 in a research report on Wednesday. Finally, Wolfe Research upgraded shares of 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. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.32.

Hudson Pacific Properties Trading Up 10.9 %

The company has a market cap of $746.68 million, a PE ratio of -3.19, a P/E/G ratio of 0.64 and a beta of 1.32. 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’s 50 day moving average is $5.00 and its 200-day moving average is $6.47.

Hudson Pacific Properties (NYSE:HPP) last announced its 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 net margin of 23.48% and a negative return on equity of 6.91%. The firm had revenue of $214.02 million during the quarter, compared to analysts’ expectations of $220.61 million. As a group, sell-side analysts anticipate that Hudson Pacific Properties, Inc. will post 0.86 EPS for the current year.

Hudson Pacific Properties Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 17th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Monday, June 17th. Hudson Pacific Properties’s dividend payout ratio is currently -12.50%.

Insider Activity

In related news, CEO Victor J. Coleman sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total value of $518,000.00. Following the transaction, the chief executive officer now owns 387,451 shares of the company’s stock, valued at approximately $2,006,996.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have bought 13,420 shares of company stock valued at $59,912. 3.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HPP. Tower Research Capital LLC TRC grew its holdings 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 in the last quarter. Versor Investments LP bought a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $99,000. Spirit of America Management Corp NY bought a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $102,000. GAMMA Investing LLC bought a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $102,000. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $102,000. 97.58% of the stock is currently owned by 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.