Steven M. Jaffe Buys 11,210 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) EVP Steven M. Jaffe bought 11,210 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average price of $2.23 per share, with a total value of $24,998.30. Following the completion of the transaction, the executive vice president now directly owns 47,771 shares of the company’s stock, valued at $106,529.33. This trade represents a 30.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hudson Pacific Properties Stock Performance

HPP opened at $2.76 on Tuesday. The firm has a market cap of $389.53 million, a P/E ratio of -1.07 and a beta of 1.43. Hudson Pacific Properties, Inc. has a 1-year low of $1.78 and a 1-year high of $6.29. The company has a 50 day simple moving average of $2.19 and a two-hundred day simple moving average of $2.72. 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 earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The firm had revenue of $198.46 million during the quarter, compared to analyst estimates of $199.95 million. Equities analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HPP has been the subject of several recent research reports. Piper Sandler set a $2.00 target price on shares of Hudson Pacific Properties and gave the company a “neutral” rating in a research report on Friday, May 23rd. The Goldman Sachs Group cut their target price on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Wedbush restated a “neutral” rating on shares of Hudson Pacific Properties in a research report on Monday, May 5th. Wells Fargo & Company cut their target price on shares of Hudson Pacific Properties from $4.00 to $3.40 and set an “overweight” rating for the company in a research report on Monday, May 19th. Finally, Jefferies Financial Group initiated coverage on shares of Hudson Pacific Properties in a research report on Monday, March 17th. They set a “hold” rating and a $2.70 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.51.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of hedge funds and other institutional investors have recently modified their holdings of HPP. Balyasny Asset Management L.P. raised its stake in Hudson Pacific Properties by 265.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after purchasing an additional 7,303,472 shares in the last quarter. Millennium Management LLC raised its stake in Hudson Pacific Properties by 303.5% during the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after purchasing an additional 5,554,444 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hudson Pacific Properties by 10.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,241,593 shares of the real estate investment trust’s stock valued at $18,413,000 after purchasing an additional 573,233 shares in the last quarter. Legal & General Group Plc raised its stake in Hudson Pacific Properties by 0.5% during the fourth quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock valued at $12,147,000 after purchasing an additional 21,320 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Hudson Pacific Properties during the first quarter valued at $10,333,000. Institutional investors own 97.58% of the company’s stock.

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.