Hudson Pacific Properties, Inc. (NYSE:HPP) COO Sells $49,399.68 in Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hudson Pacific Properties Stock Performance

HPP opened at $4.77 on Friday. The firm has a fifty day moving average price of $5.15 and a 200 day moving average price of $5.39. Hudson Pacific Properties, Inc. has a 1 year low of $4.26 and a 1 year high of $9.85. The stock has a market cap of $673.26 million, a P/E ratio of -2.98, a P/E/G ratio of 0.88 and a beta of 1.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The firm had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $216.08 million. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. Equities research analysts anticipate that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On Hudson Pacific Properties

Large investors have recently bought and sold shares of the business. GRS Advisors LLC acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth about $18,489,000. Millennium Management LLC increased its position in shares of Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. Scion Asset Management LLC acquired a new position in Hudson Pacific Properties in the 2nd quarter valued at $5,505,000. Allianz Asset Management GmbH boosted its stake in Hudson Pacific Properties by 114.3% during the 4th quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock worth $19,621,000 after purchasing an additional 1,124,100 shares during the last quarter. Finally, Davis Selected Advisers grew its holdings in shares of Hudson Pacific Properties by 78.0% during the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock worth $5,890,000 after buying an additional 536,540 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HPP. Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $6.00 to $4.25 in a report on Wednesday, July 10th. Bank of America dropped their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. The Goldman Sachs Group reduced their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Finally, BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $8.00 to $6.00 in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.95.

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.