Drew Gordon Purchases 11,210 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) CIO Drew Gordon bought 11,210 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was bought at an average price of $2.23 per share, for a total transaction of $24,998.30. Following the transaction, the executive now directly owns 119,988 shares of the company’s stock, valued at approximately $267,573.24. This represents a 10.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Hudson Pacific Properties Trading Up 0.4%

NYSE HPP opened at $2.76 on Wednesday. The firm has a market capitalization of $390.24 million, a PE ratio of -1.01 and a beta of 1.43. The business’s 50-day moving average price is $2.20 and its two-hundred day moving average price is $2.72. The company has a current ratio of 1.79, a quick 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.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data 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 analyst estimates of $199.95 million. Hudson Pacific Properties had a negative return on equity of 14.12% and a negative net margin of 47.56%. On average, analysts expect that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on HPP shares. Piper Sandler set a $2.00 price target on Hudson Pacific Properties and gave the company a “neutral” rating in a research note on Friday, May 23rd. Wells Fargo & Company lowered their target price on Hudson Pacific Properties from $4.00 to $3.40 and set an “overweight” rating for the company in a report on Monday, May 19th. Jefferies Financial Group started coverage on Hudson Pacific Properties in a research note on Monday, March 17th. They set a “hold” rating and a $2.70 price target on the stock. Wedbush restated a “neutral” rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Finally, Odeon Capital Group started coverage on Hudson Pacific Properties in a research note on Monday. They issued a “buy” rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.51.

Institutional Investors Weigh In On Hudson Pacific Properties

Large investors have recently modified their holdings of the company. Balyasny Asset Management L.P. lifted its stake in Hudson Pacific Properties by 265.5% in 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 buying an additional 7,303,472 shares during the period. Millennium Management LLC increased its stake in Hudson Pacific Properties by 303.5% during the 4th 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. Nuveen LLC bought a new stake in shares of Hudson Pacific Properties during the first quarter worth about $10,333,000. Conversant Capital LLC bought a new position in Hudson Pacific Properties in the 1st quarter valued at about $8,019,000. Finally, Alta Fundamental Advisers LLC purchased a new position in shares of Hudson Pacific Properties during the first quarter valued at approximately $5,622,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

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.