Hudson Pacific Properties, Inc. (NYSE:HPP) Short Interest Down 9.1% in June

Hudson Pacific Properties, Inc. (NYSE:HPP) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 20,760,000 shares, a decrease of 9.1% from the May 31st total of 22,830,000 shares. Based on an average daily trading volume, of 2,080,000 shares, the short-interest ratio is presently 10.0 days. Approximately 15.1% of the company’s stock are short sold.

Analysts Set New Price Targets

HPP has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $7.00 price target on shares of Hudson Pacific Properties in a research note on Thursday, June 27th. Morgan Stanley dropped their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target on the stock in a research note on Monday, March 18th. Finally, The Goldman Sachs Group dropped their price target on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and a consensus price target of $8.49.

Hudson Pacific Properties Trading Up 2.6 %

Shares of HPP stock traded up $0.13 during trading hours on Wednesday, hitting $5.06. The stock had a trading volume of 1,319,996 shares, compared to its average volume of 2,436,363. Hudson Pacific Properties has a twelve month low of $4.15 and a twelve month high of $9.85. The stock’s 50 day moving average is $5.10 and its 200 day moving average is $6.62. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85.

Hudson Pacific Properties (NYSE:HPP) last issued 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 company had revenue of $214.02 million for the quarter, compared to analyst estimates of $220.61 million. As a group, equities analysts anticipate that Hudson Pacific Properties will post 0.86 earnings per share for the current 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 issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, June 17th. Hudson Pacific Properties’s dividend payout ratio is presently -12.50%.

Insider Buying and Selling

In related news, CEO Victor J. Coleman sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total transaction of $518,000.00. Following the sale, the chief executive officer now directly owns 387,451 shares in the company, valued at $2,006,996.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have bought 13,420 shares of company stock worth $59,912. Company insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds have recently modified their holdings of HPP. FMR LLC lifted its holdings 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 worth $35,869,000 after purchasing an additional 5,308,032 shares during the period. Deutsche Bank AG lifted its holdings in Hudson Pacific Properties by 2,367.6% in the third quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock valued at $28,469,000 after acquiring an additional 4,107,498 shares during the period. Waterfront Capital Partners LLC acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at $22,848,000. GRS Advisors LLC acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at $18,489,000. Finally, American Century Companies Inc. acquired a new stake in Hudson Pacific Properties in the third quarter valued at $9,313,000. 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.