Insider Selling: Hudson Pacific Properties, Inc. (NYSE:HPP) Director Sells 9,287 Shares of Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now owns 3,713 shares in the company, valued at $19,307.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hudson Pacific Properties Stock Up 1.0 %

Shares of HPP traded up $0.05 on Wednesday, hitting $5.07. The company’s stock had a trading volume of 619,515 shares, compared to its average volume of 2,413,570. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties, Inc. has a fifty-two week low of $4.26 and a fifty-two week high of $9.85. The firm’s fifty day moving average price is $5.20 and its 200-day moving average price is $5.57. The firm has a market capitalization of $715.61 million, a price-to-earnings ratio of -3.21, a P/E/G ratio of 0.90 and a beta of 1.32.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HPP. The Goldman Sachs Group cut their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $6.00 to $4.25 in a research note on Wednesday, July 10th. Bank of America dropped their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Scotiabank cut their target price 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. Finally, Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $6.00 in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Hudson Pacific Properties presently has a consensus rating of “Hold” and a consensus price target of $7.17.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors have recently modified their holdings of HPP. Van ECK Associates Corp lifted its stake in Hudson Pacific Properties by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 22,398 shares of the real estate investment trust’s stock valued at $208,000 after acquiring an additional 4,233 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Hudson Pacific Properties by 19.3% during the fourth quarter. Victory Capital Management Inc. now owns 26,456 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 4,271 shares during the last quarter. First Trust Direct Indexing L.P. bought a new position in Hudson Pacific Properties in the fourth quarter valued at $102,000. Natixis Advisors L.P. increased its stake in Hudson Pacific Properties by 9.4% in the 4th quarter. Natixis Advisors L.P. now owns 33,247 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 2,852 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Hudson Pacific Properties by 12.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,097,841 shares of the real estate investment trust’s stock worth $38,151,000 after buying an additional 439,331 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors.

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.