Hudson Pacific Properties (NYSE:HPP) Stock Price Down 4.1% Following Insider Selling

Hudson Pacific Properties, Inc. (NYSE:HPP)’s share price was down 4.1% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $4.65 and last traded at $4.68. Approximately 735,486 shares were traded during trading, a decline of 70% from the average daily volume of 2,413,142 shares. The stock had previously closed at $4.88.

Specifically, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at approximately $322,439.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HPP. Scotiabank decreased their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler cut shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their price target on 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Hudson Pacific Properties presently has an average rating of “Hold” and an average price target of $6.95.

Hudson Pacific Properties Trading Up 1.9 %

The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50-day simple moving average of $5.15 and a two-hundred day simple moving average of $5.39. The firm has a market cap of $673.26 million, a PE ratio of -2.98, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HPP. Silver Lake Advisory LLC purchased a new position in shares of Hudson Pacific Properties in the second quarter valued at about $145,000. Algert Global LLC lifted its holdings in Hudson Pacific Properties by 0.7% in the 2nd quarter. Algert Global LLC now owns 954,042 shares of the real estate investment trust’s stock worth $4,589,000 after purchasing an additional 7,047 shares in the last quarter. Scion Asset Management LLC purchased a new position in Hudson Pacific Properties in the 2nd quarter worth approximately $5,505,000. Lighthouse Investment Partners LLC bought a new position in Hudson Pacific Properties in the 2nd quarter worth approximately $1,563,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Hudson Pacific Properties by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 2,408 shares in the last quarter. Hedge funds and other institutional investors 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.