Hudson Pacific Properties (NYSE:HPP) Trading Down 4.1% After Insider Selling

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) fell 4.1% during trading on Wednesday following insider selling activity. The company traded as low as $4.65 and last traded at $4.68. 735,486 shares were traded during trading, a decline of 70% from the average session volume of 2,413,142 shares. The stock had previously closed at $4.88.

Specifically, COO Andy Wattula sold 9,356 shares of the company's stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have commented on HPP. Bank of America lowered their price objective 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. BMO Capital Markets cut shares of Hudson Pacific Properties from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. 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. Scotiabank decreased their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a "sector perform" rating for the company in a research note on Monday, August 26th. Finally, Morgan Stanley lowered shares of Hudson Pacific Properties from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $6.00 to $4.25 in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Hudson Pacific Properties currently has an average rating of "Hold" and an average price target of $6.95.

Hudson Pacific Properties Stock Performance

The company has a market capitalization of $661.26 million, a PE ratio of -2.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31. 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 business's fifty day moving average is $5.18 and its two-hundred day moving average is $5.40.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $216.08 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm's revenue for the quarter was down 11.1% compared to the same quarter last year. Equities research analysts predict that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current year.

Institutional Trading of Hudson Pacific Properties

Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH grew its holdings in shares of Hudson Pacific Properties by 114.3% in 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 acquiring an additional 1,124,100 shares during the period. Presima Securities ULC increased its position in shares of Hudson Pacific Properties by 7.2% during the 4th quarter. Presima Securities ULC now owns 2,066,415 shares of the real estate investment trust's stock valued at $19,238,000 after purchasing an additional 139,619 shares during the last quarter. GRS Advisors LLC bought a new position in shares of Hudson Pacific Properties in the 4th quarter worth approximately $18,489,000. Millennium Management LLC lifted its stake in shares of 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 during the period. Finally, B&I Capital AG boosted its holdings in shares of Hudson Pacific Properties by 23.4% in the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust's stock worth $8,174,000 after buying an additional 322,033 shares during the last quarter. Hedge funds and other institutional investors 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.