Short Interest in Hudson Pacific Properties, Inc. (NYSE:HPP) Decreases By 21.9%

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 21,200,000 shares, a drop of 21.9% from the December 15th total of 27,140,000 shares. Approximately 15.5% of the company's stock are short sold. Based on an average daily volume of 3,940,000 shares, the days-to-cover ratio is currently 5.4 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on HPP. Jefferies Financial Group lowered their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. Mizuho lowered their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler cut their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a "neutral" rating for the company in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $5.08.

Hudson Pacific Properties Stock Performance

Shares of HPP traded up $0.23 during midday trading on Friday, reaching $3.16. 2,923,339 shares of the stock were exchanged, compared to its average volume of 3,238,254. The stock's 50 day simple moving average is $3.25 and its 200 day simple moving average is $4.36. The company has a market cap of $445.58 million, a P/E ratio of -1.51 and a beta of 1.30. Hudson Pacific Properties has a twelve month low of $2.39 and a twelve month high of $9.25. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman acquired 50,000 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $2.87 per share, with a total value of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at $1,398,984.37. This trade represents a 11.43 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.92% of the company's stock.

Institutional Trading of Hudson Pacific Properties

Several hedge funds and other institutional investors have recently bought and sold shares of HPP. Anthracite Investment Company Inc. acquired a new stake in Hudson Pacific Properties during the third quarter worth about $1,320,000. Green Alpha Advisors LLC increased its holdings in shares of Hudson Pacific Properties by 77.7% during the fourth quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust's stock worth $1,580,000 after buying an additional 228,079 shares in the last quarter. Wolverine Asset Management LLC raised its position in Hudson Pacific Properties by 42.3% in the third quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust's stock valued at $2,755,000 after purchasing an additional 171,424 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Hudson Pacific Properties during the third quarter worth about $1,332,000. Finally, Millennium Management LLC increased its stake in shares of Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust's stock valued at $8,594,000 after buying an additional 1,319,869 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.