Hudson Pacific Properties, Inc. (NYSE:HPP) Receives Average Rating of "Reduce" from Brokerages

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) has been given a consensus recommendation of "Reduce" by the eleven brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.17.

A number of research firms have recently commented on HPP. Wolfe Research cut Hudson Pacific Properties from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Piper Sandler cut their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Bank of America decreased their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an "underperform" rating for the company in a research report on Thursday, August 22nd. Jefferies Financial Group cut shares of Hudson Pacific Properties from a "buy" rating to a "hold" rating and cut their price target for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. Finally, Scotiabank decreased their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a "sector perform" rating for the company in a report on Monday, August 26th.

Hudson Pacific Properties Price Performance

Shares of HPP stock remained flat at $3.56 during trading hours on Friday. 3,224,200 shares of the company were exchanged, compared to its average volume of 3,159,876. Hudson Pacific Properties has a 52-week low of $3.01 and a 52-week high of $9.85. The stock's 50-day moving average is $4.19 and its 200-day moving average is $4.75. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47.

Insider Activity

In other news, CEO Victor J. Coleman bought 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $3.53 per share, for a total transaction of $176,500.00. Following the completion of the purchase, the chief executive officer now directly owns 437,451 shares in the company, valued at approximately $1,544,202.03. The trade was a 12.90 % 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. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.95% of the company's stock.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors have recently made changes to their positions in HPP. Millennium Management LLC boosted its stake in Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust's stock worth $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. Scion Asset Management LLC acquired a new stake in shares of Hudson Pacific Properties during the second quarter worth $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Hudson Pacific Properties by 450.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust's stock valued at $5,096,000 after buying an additional 872,538 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust's stock valued at $3,633,000 after buying an additional 720,549 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Hudson Pacific Properties by 13.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust's stock valued at $24,902,000 after acquiring an additional 630,932 shares during the period. Institutional investors and hedge funds own 97.58% of the company's stock.

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.