Hudson Pacific Properties (NYSE:HPP) Shares Gap Up to $4.77

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $4.77, but opened at $4.92. Hudson Pacific Properties shares last traded at $4.82, with a volume of 86,227 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley cut shares of Hudson Pacific Properties from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $6.00 to $4.25 in a research report on Wednesday, July 10th. Wolfe Research lowered Hudson Pacific Properties from an "outperform" rating to a "peer perform" rating in a report on Wednesday, August 14th. Piper Sandler downgraded Hudson Pacific Properties from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Wells Fargo & Company dropped their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research report on Wednesday, September 11th. Finally, Bank of America reduced their price target 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of "Hold" and an average target price of $6.95.

Hudson Pacific Properties Stock Down 1.7 %

The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The firm's 50 day moving average price is $5.14 and its two-hundred day moving average price is $5.37. The company has a market capitalization of $661.97 million, a price-to-earnings ratio of -2.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced its quarterly 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). Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The business had revenue of $218.00 million for the quarter, compared to analyst estimates of $216.08 million. During the same period last year, the firm earned $0.24 EPS. Hudson Pacific Properties's quarterly revenue was down 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Hudson Pacific Properties

In other news, Director Jonathan M. Glaser sold 9,287 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now owns 3,713 shares in the company, valued at approximately $19,307.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction that occurred 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 owns 3,713 shares in the company, valued at $19,307.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction that occurred on 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 of the company's stock, valued at $322,439.04. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company's stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of hedge funds have recently bought and sold shares of the business. GRS Advisors LLC acquired a new position in Hudson Pacific Properties in the 4th quarter valued at $18,489,000. Millennium Management LLC lifted its position in Hudson Pacific Properties by 282.7% during the second 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 during the period. Scion Asset Management LLC bought a new stake in Hudson Pacific Properties during the second quarter worth about $5,505,000. Allianz Asset Management GmbH grew its stake in Hudson Pacific Properties by 114.3% during the fourth quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust's stock worth $19,621,000 after buying an additional 1,124,100 shares in the last quarter. Finally, Davis Selected Advisers increased its holdings in Hudson Pacific Properties by 78.0% in the 2nd quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust's stock valued at $5,890,000 after buying an additional 536,540 shares during the period. 97.58% of the stock is owned by institutional investors.

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.