Hudson Pacific Properties (NYSE:HPP) Trading 8.9% Higher – Time to Buy?

Hudson Pacific Properties, Inc. (NYSE:HPP)’s share price traded up 8.9% on Wednesday . The stock traded as high as $4.51 and last traded at $4.40. 641,225 shares were traded during mid-day trading, a decline of 73% from the average session volume of 2,371,872 shares. The stock had previously closed at $4.04.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. The Goldman Sachs Group decreased their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Jefferies Financial Group lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and decreased their price objective for the company from $5.50 to $5.00 in a research note on Tuesday. Finally, Scotiabank decreased their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.30.

Hudson Pacific Properties Stock Up 6.4 %

The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a 50-day moving average price of $4.66 and a 200 day moving average price of $4.97.

Insider Buying and Selling

In related news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now owns 3,713 shares in the company, valued at $19,307.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at $322,439.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors and hedge funds have recently made changes to their positions in HPP. State Board of Administration of Florida Retirement System lifted its position in shares of Hudson Pacific Properties by 225.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 116,945 shares during the last quarter. Millennium Management LLC lifted its position in shares of Hudson Pacific Properties by 282.7% during the 2nd 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 during the last quarter. Wolverine Asset Management LLC raised its holdings in Hudson Pacific Properties by 42.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock valued at $2,755,000 after acquiring an additional 171,424 shares in the last quarter. Scion Asset Management LLC acquired a new position in Hudson Pacific Properties in the 2nd quarter valued at approximately $5,505,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Hudson Pacific Properties by 405.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock valued at $1,995,000 after acquiring an additional 248,117 shares in the last quarter. Institutional investors and hedge funds 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.