Hudson Pacific Properties (NYSE:HPP) Shares Gap Down to $6.69

Hudson Pacific Properties, Inc. (NYSE:HPP)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $6.69, but opened at $6.28. Hudson Pacific Properties shares last traded at $6.19, with a volume of 416,116 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HPP shares. BMO Capital Markets increased their price objective on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Wedbush lowered Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $11.00 to $7.50 in a research report on Tuesday, February 20th. The Goldman Sachs Group lifted their price objective on Hudson Pacific Properties from $7.10 to $10.60 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. BTIG Research increased their target price on Hudson Pacific Properties from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, December 29th. Finally, Piper Sandler reduced their target price on Hudson Pacific Properties from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $9.05.

Hudson Pacific Properties Trading Down 7.5 %

The business has a 50 day simple moving average of $6.77 and a 200-day simple moving average of $6.90. The stock has a market capitalization of $873.72 million, a price-to-earnings ratio of -4.53, a PEG ratio of 0.54 and a beta of 1.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.79 and a quick ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. Hudson Pacific Properties had a negative return on equity of 5.74% and a negative net margin of 19.20%. The business had revenue of $223.42 million during the quarter, compared to analysts’ expectations of $223.93 million. During the same period in the prior year, the business earned $0.49 EPS. Hudson Pacific Properties’s revenue for the quarter was down 17.2% compared to the same quarter last year. As a group, equities analysts expect that Hudson Pacific Properties, Inc. will post 1.05 earnings per share for the current year.

Hudson Pacific Properties Announces Dividend

The company also recently announced a — dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties’s dividend payout ratio is presently -14.60%.

Insider Activity

In other Hudson Pacific Properties news, Director Barry A. Sholem purchased 40,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were purchased at an average cost of $6.69 per share, with a total value of $267,600.00. Following the transaction, the director now directly owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CIO Drew Gordon sold 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the sale, the executive now owns 116,694 shares of the company’s stock, valued at approximately $829,694.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barry A. Sholem bought 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $6.69 per share, with a total value of $267,600.00. Following the completion of the purchase, the director now directly owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The disclosure for this purchase can be found here. 3.92% of the stock is owned by corporate insiders.

Institutional Trading of Hudson Pacific Properties

A number of large investors have recently added to or reduced their stakes in the company. Group One Trading L.P. bought a new stake in shares of Hudson Pacific Properties in the 1st quarter valued at about $149,000. HighTower Advisors LLC raised its stake in Hudson Pacific Properties by 3.4% in the first quarter. HighTower Advisors LLC now owns 18,542 shares of the real estate investment trust’s stock valued at $514,000 after buying an additional 612 shares during the period. Bank of Montreal Can lifted its position in shares of Hudson Pacific Properties by 76.5% in the first quarter. Bank of Montreal Can now owns 36,550 shares of the real estate investment trust’s stock valued at $1,034,000 after buying an additional 15,845 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Hudson Pacific Properties by 33.3% during the 1st quarter. MetLife Investment Management LLC now owns 98,525 shares of the real estate investment trust’s stock worth $2,734,000 after acquiring an additional 24,633 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Hudson Pacific Properties by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,882 shares of the real estate investment trust’s stock worth $1,551,000 after acquiring an additional 5,328 shares during the period. Institutional investors and hedge funds 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.