Insider Buying: Hudson Pacific Properties, Inc. (NYSE:HPP) CIO Acquires 11,210 Shares of Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) CIO Drew Gordon acquired 11,210 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were bought at an average price of $2.23 per share, with a total value of $24,998.30. Following the acquisition, the executive now directly owns 119,988 shares of the company’s stock, valued at $267,573.24. The trade was a 10.31% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hudson Pacific Properties Trading Up 0.4%

HPP stock opened at $2.76 on Wednesday. Hudson Pacific Properties, Inc. has a one year low of $1.78 and a one year high of $6.29. The company has a market capitalization of $390.24 million, a PE ratio of -1.01 and a beta of 1.43. The company’s 50 day moving average price is $2.20 and its two-hundred day moving average price is $2.72. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.79 and a current ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $198.46 million for the quarter, compared to analysts’ expectations of $199.95 million. Hudson Pacific Properties had a negative net margin of 47.56% and a negative return on equity of 14.12%. As a group, analysts predict that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HPP has been the topic of a number of research reports. The Goldman Sachs Group lowered their price target on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Odeon Capital Group initiated coverage on Hudson Pacific Properties in a report on Monday. They issued a “buy” rating and a $5.00 price target for the company. Morgan Stanley reissued an “underweight” rating and issued a $1.75 price target on shares of Hudson Pacific Properties in a report on Tuesday, April 15th. Piper Sandler set a $2.00 price objective on Hudson Pacific Properties and gave the company a “neutral” rating in a research note on Friday, May 23rd. Finally, Wedbush reissued a “neutral” rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Two 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, Hudson Pacific Properties currently has an average rating of “Hold” and a consensus target price of $3.51.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Asset Management One Co. Ltd. increased its stake in shares of Hudson Pacific Properties by 9.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 206,656 shares of the real estate investment trust’s stock worth $614,000 after buying an additional 18,279 shares during the period. Sanctuary Advisors LLC purchased a new stake in Hudson Pacific Properties in the 4th quarter worth approximately $45,000. Union Bancaire Privee UBP SA bought a new stake in shares of Hudson Pacific Properties in the 4th quarter worth approximately $436,000. Y Intercept Hong Kong Ltd increased its stake in shares of Hudson Pacific Properties by 197.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 368,175 shares of the real estate investment trust’s stock valued at $1,116,000 after buying an additional 244,410 shares during the period. Finally, Versor Investments LP purchased a new position in shares of Hudson Pacific Properties during the fourth quarter valued at approximately $97,000. 97.58% of the stock is 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.