Insider Buying: Hudson Pacific Properties, Inc. (NYSE:HPP) Director Buys $99,999.89 in Stock

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

Hudson Pacific Properties Trading Up 2.6%

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

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $198.46 million for the quarter, compared to the consensus estimate of $199.95 million. Hudson Pacific Properties had a negative net margin of 47.56% and a negative return on equity of 14.12%. On average, analysts forecast 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

A number of large investors have recently bought and sold shares of the company. Strs Ohio acquired a new stake in Hudson Pacific Properties during the first quarter worth about $73,000. IFM Investors Pty Ltd acquired a new stake in shares of Hudson Pacific Properties in the 1st quarter valued at approximately $93,000. Caxton Associates LLP acquired a new stake in shares of Hudson Pacific Properties in the 1st quarter valued at approximately $82,000. Presima Securities ULC boosted its stake in shares of Hudson Pacific Properties by 10.4% in the 1st quarter. Presima Securities ULC now owns 2,765,776 shares of the real estate investment trust’s stock valued at $8,159,000 after purchasing an additional 260,793 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Hudson Pacific Properties by 140.3% in the 1st quarter. AQR Capital Management LLC now owns 348,203 shares of the real estate investment trust’s stock valued at $1,027,000 after purchasing an additional 203,283 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on HPP. The Goldman Sachs Group dropped their price objective on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler set a $2.00 price target on shares of Hudson Pacific Properties and gave the company a “neutral” rating in a research note on Friday, May 23rd. Morgan Stanley restated an “underweight” rating and issued a $1.75 price target on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. BMO Capital Markets decreased their price target on shares of Hudson Pacific Properties from $4.00 to $3.50 and set an “outperform” rating on the stock in a research note on Friday, June 13th. Finally, Jefferies Financial Group assumed coverage on shares of Hudson Pacific Properties in a research note on Monday, March 17th. They issued a “hold” rating and a $2.70 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.51.

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.