Hudson Pacific Properties, Inc. (NYSE:HPP) Director Robert L. Harris II Purchases 44,843 Shares

Hudson Pacific Properties, Inc. (NYSE:HPP) Director Robert L. Harris II acquired 44,843 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were bought at an average cost of $2.23 per share, with a total value of $99,999.89. Following the completion of the purchase, the director now owns 174,731 shares of the company’s stock, valued at $389,650.13. This trade represents a 34.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Hudson Pacific Properties Stock Performance

Shares of Hudson Pacific Properties stock opened at $2.76 on Tuesday. The firm has a market cap of $389.53 million, a price-to-earnings ratio of -1.07 and a beta of 1.43. The stock’s 50-day moving average is $2.19 and its 200-day moving average is $2.72. Hudson Pacific Properties, Inc. has a one year low of $1.78 and a one year high of $6.29. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $198.46 million for the quarter, compared to analyst estimates of $199.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. Equities analysts predict that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Hudson Pacific Properties

Institutional investors have recently modified their holdings of the company. GeoWealth Management LLC bought a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at about $27,000. US Bancorp DE lifted its holdings in shares of Hudson Pacific Properties by 1,053.7% in the first quarter. US Bancorp DE now owns 9,772 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 8,925 shares in the last quarter. Xponance Inc. bought a new stake in Hudson Pacific Properties during the fourth quarter worth about $30,000. Cibc World Markets Corp bought a new stake in Hudson Pacific Properties during the fourth quarter worth about $39,000. Finally, Boothbay Fund Management LLC bought a new stake in Hudson Pacific Properties during the fourth quarter worth about $40,000. 97.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HPP has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on Hudson Pacific Properties from $4.00 to $3.40 and set an “overweight” rating for the company in a research note on Monday, May 19th. Jefferies Financial Group initiated coverage on Hudson Pacific Properties in a research note on Monday, March 17th. They set a “hold” rating and a $2.70 price objective for the company. Wedbush reaffirmed a “neutral” rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. The Goldman Sachs Group reduced their target price on Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, BMO Capital Markets reduced their target price on Hudson Pacific Properties from $4.00 to $3.50 and set an “outperform” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Hudson Pacific Properties currently has a consensus rating of “Hold” and a consensus price target of $3.51.

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.