Hudson Pacific Properties (NYSE:HPP) Shares Up 3%

Hudson Pacific Properties, Inc. (NYSE:HPP) shot up 3% during trading on Tuesday . The company traded as high as $4.84 and last traded at $4.84. 157,103 shares were traded during mid-day trading, a decline of 94% from the average session volume of 2,430,051 shares. The stock had previously closed at $4.70.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HPP. Piper Sandler reissued an “overweight” rating and issued a $7.00 target price on shares of Hudson Pacific Properties in a research note on Thursday, June 27th. The Goldman Sachs Group cut their target price on Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Wolfe Research raised Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price on the stock in a research note on Monday, March 18th. Finally, Morgan Stanley dropped their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.49.

Hudson Pacific Properties Stock Performance

The business has a fifty day simple moving average of $5.08 and a two-hundred day simple moving average of $6.61. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.53). Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. The firm had revenue of $214.02 million during the quarter, compared to the consensus estimate of $220.61 million. On average, equities analysts predict that Hudson Pacific Properties, Inc. will post 0.86 earnings per share for the current year.

Hudson Pacific Properties Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Monday, June 17th. Hudson Pacific Properties’s dividend payout ratio is -12.50%.

Insider Buying and Selling at Hudson Pacific Properties

In other news, CEO Victor J. Coleman sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the transaction, the chief executive officer now owns 387,451 shares of the company’s stock, valued at $2,006,996.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have bought 13,420 shares of company stock valued at $59,912. 3.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HPP. Deutsche Bank AG raised its stake in shares of Hudson Pacific Properties by 2,367.6% in the third quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock worth $28,469,000 after buying an additional 4,107,498 shares during the period. Waterfront Capital Partners LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $22,848,000. GRS Advisors LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $18,489,000. American Century Companies Inc. purchased a new stake in shares of Hudson Pacific Properties during the third quarter worth about $9,313,000. Finally, Allianz Asset Management GmbH grew its position in shares of 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 purchasing an additional 1,124,100 shares in the last quarter. 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.