Insider Buying: Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Purchases $499,999.45 in Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Victor J. Coleman purchased 224,215 shares of Hudson Pacific Properties stock in a transaction dated Thursday, June 12th. The shares were purchased at an average cost of $2.23 per share, with a total value of $499,999.45. Following the acquisition, the chief executive officer now owns 711,666 shares of the company’s stock, valued at approximately $1,587,015.18. This trade represents a 46.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $2.83 on Thursday. The stock has a market cap of $400.56 million, a price-to-earnings ratio of -1.04 and a beta of 1.43. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.79 and a quick ratio of 1.79. Hudson Pacific Properties, Inc. has a 12 month low of $1.78 and a 12 month high of $6.29. The stock’s 50 day moving average price is $2.21 and its 200 day moving average price is $2.72.

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

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. Balyasny Asset Management L.P. raised its holdings in shares of Hudson Pacific Properties by 265.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after purchasing an additional 7,303,472 shares in the last quarter. Millennium Management LLC boosted its holdings 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 worth $22,374,000 after buying an additional 5,554,444 shares in the last quarter. Nuveen LLC acquired a new position in Hudson Pacific Properties in the first quarter worth approximately $10,333,000. Conversant Capital LLC bought a new position in shares of Hudson Pacific Properties in the first quarter valued at $8,019,000. Finally, Alta Fundamental Advisers LLC acquired a new stake in shares of Hudson Pacific Properties during the 1st quarter valued at $5,622,000. 97.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HPP. BMO Capital Markets cut their price objective on shares of Hudson Pacific Properties from $4.00 to $3.50 and set an “outperform” rating on the stock in a research report on Friday, June 13th. BTIG Research set a $8.00 price target on Hudson Pacific Properties and gave the company a “buy” rating in a report on Tuesday, May 6th. Wedbush reiterated a “neutral” rating on shares of Hudson Pacific Properties in a research report on Monday, May 5th. Odeon Capital Group started coverage on Hudson Pacific Properties in a report on Monday. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $1.75 target price on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.