Hudson Pacific Properties (NYSE:HPP) Hits New 1-Year Low - What's Next?

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $4.26 and last traded at $4.28, with a volume of 28591 shares trading hands. The stock had previously closed at $4.33.

Analyst Ratings Changes

HPP has been the topic of a number of analyst reports. BMO Capital Markets cut Hudson Pacific Properties from an "outperform" rating to a "market perform" rating and cut their target price for the company from $8.00 to $6.00 in a research note on Thursday, August 8th. Wolfe Research cut Hudson Pacific Properties from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Morgan Stanley cut Hudson Pacific Properties from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $6.00 to $4.25 in a research note on Wednesday, July 10th. Piper Sandler cut Hudson Pacific Properties from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a "neutral" rating on the stock in a research note on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $6.94.

Hudson Pacific Properties Stock Performance

The business has a fifty day simple moving average of $4.86 and a two-hundred day simple moving average of $5.09. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $597.75 million, a PE ratio of -2.68 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.50). The company had revenue of $218.00 million for the quarter, compared to analysts' expectations of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The firm's quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Research analysts anticipate that Hudson Pacific Properties, Inc. will post 0.57 earnings per share for the current year.

Insider Activity

In related news, Director Jonathan M. Glaser sold 9,287 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares in the company, valued at $19,307.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the sale, the director now directly owns 3,713 shares of the company's stock, valued at approximately $19,307.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andy Wattula sold 9,356 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.95% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its stake in Hudson Pacific Properties by 225.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust's stock worth $1,123,000 after purchasing an additional 116,945 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Hudson Pacific Properties by 167.2% in the 1st quarter. GSA Capital Partners LLP now owns 302,179 shares of the real estate investment trust's stock worth $1,949,000 after purchasing an additional 189,104 shares in the last quarter. Millennium Management LLC lifted 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 purchased a new position in Hudson Pacific Properties in the 2nd quarter worth approximately $5,505,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Hudson Pacific Properties by 405.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust's stock worth $1,995,000 after purchasing an additional 248,117 shares in the last quarter. 97.58% of the stock is owned by hedge funds and other institutional investors.

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.