Hudson Pacific Properties (NYSE:HPP) Sets New 52-Week Low Following Analyst Downgrade

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report)'s stock price hit a new 52-week low during trading on Monday after Piper Sandler lowered their price target on the stock from $5.00 to $4.50. Piper Sandler currently has a neutral rating on the stock. Hudson Pacific Properties traded as low as $3.55 and last traded at $3.59, with a volume of 61964 shares trading hands. The stock had previously closed at $3.68.

A number of other equities analysts also recently commented on HPP. Bank of America decreased their price objective on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an "underperform" rating for the company in a report on Thursday, August 22nd. Wells Fargo & Company dropped their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Wednesday, September 11th. Jefferies Financial Group downgraded Hudson Pacific Properties from a "buy" rating to a "hold" rating and decreased their target price for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a "neutral" rating on the stock in a research report on Wednesday, August 14th. Finally, BMO Capital Markets lowered Hudson Pacific Properties from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.17.

Insider Activity

In other news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andy Wattula sold 9,356 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares of the company's stock, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company's stock.

Institutional Inflows and Outflows

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

Hudson Pacific Properties Stock Down 8.3 %

The company has a market cap of $476.65 million, a P/E ratio of -1.61 and a beta of 1.31. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a fifty day moving average price of $4.60 and a 200 day moving average price of $4.94.

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.