Hudson Pacific Properties, Inc. (NYSE:HPP) COO Sells $49,399.68 in Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares in the company, valued at $322,439.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hudson Pacific Properties Stock Performance

HPP traded down $0.11 on Tuesday, reaching $4.89. The company had a trading volume of 3,138,860 shares, compared to its average volume of 2,422,260. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $690.20 million, a P/E ratio of -3.05, a P/E/G ratio of 0.84 and a beta of 1.31. Hudson Pacific Properties, Inc. has a fifty-two week low of $4.26 and a fifty-two week high of $9.85. The company’s fifty day moving average is $5.19 and its 200 day moving average is $5.41.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The business had revenue of $218.00 million during the quarter, compared to the consensus estimate of $216.08 million. During the same period in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, analysts predict that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HPP. Bank of America lowered their price target on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Scotiabank lowered their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. Finally, Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.95.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors and hedge funds have recently made changes to their positions in HPP. Victory Capital Management Inc. increased its position in Hudson Pacific Properties by 19.3% during the 4th quarter. Victory Capital Management Inc. now owns 26,456 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 4,271 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Hudson Pacific Properties during the fourth quarter worth $209,000. Allianz Asset Management GmbH increased 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 buying an additional 1,124,100 shares during the period. Scotia Capital Inc. increased its position in shares of Hudson Pacific Properties by 4.3% during the fourth quarter. Scotia Capital Inc. now owns 94,739 shares of the real estate investment trust’s stock worth $882,000 after buying an additional 3,903 shares during the period. Finally, Presima Securities ULC boosted its stake in Hudson Pacific Properties by 7.2% during the fourth quarter. Presima Securities ULC now owns 2,066,415 shares of the real estate investment trust’s stock worth $19,238,000 after acquiring an additional 139,619 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.