Traders Buy Large Volume of Put Options on Hudson Pacific Properties (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) saw some unusual options trading activity on Tuesday. Traders bought 5,834 put options on the company. This represents an increase of 600% compared to the typical volume of 834 put options.

Hudson Pacific Properties Trading Up 0.8 %

NYSE HPP opened at $3.62 on Wednesday. Hudson Pacific Properties has a 12 month low of $3.01 and a 12 month high of $9.85. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock’s fifty day moving average price is $4.41 and its 200-day moving average price is $4.85. The stock has a market cap of $511.25 million, a P/E ratio of -1.65 and a beta of 1.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Piper Sandler reduced their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Scotiabank lowered their target price on 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. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.17.

Insider Activity at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the firm’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 completion of the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Victor J. Coleman purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $3.53 per share, for a total transaction of $176,500.00. Following the acquisition, the chief executive officer now owns 437,451 shares of the company’s stock, valued at $1,544,202.03. This represents a 12.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds have recently bought and sold shares of the company. Barclays PLC raised its holdings in Hudson Pacific Properties by 120.9% in the third quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust’s stock worth $1,168,000 after buying an additional 133,673 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Hudson Pacific Properties by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock valued at $16,381,000 after acquiring an additional 154,101 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Hudson Pacific Properties by 11.7% during the third quarter. Public Employees Retirement System of Ohio now owns 212,406 shares of the real estate investment trust’s stock valued at $1,015,000 after acquiring an additional 22,167 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Hudson Pacific Properties by 13.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 185,000 shares of the real estate investment trust’s stock worth $884,000 after acquiring an additional 22,300 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Hudson Pacific Properties in the 3rd quarter valued at approximately $592,000. Institutional investors own 97.58% of the company’s stock.

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.