Hudson Pacific Properties Sees Unusually High Options Volume (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) was the target of some unusual options trading activity on Thursday. Investors acquired 5,334 call options on the stock. This represents an increase of 460% compared to the average volume of 953 call options.

Hudson Pacific Properties Trading Up 0.4 %

NYSE HPP opened at $2.61 on Friday. 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 firm has a market capitalization of $368.62 million, a P/E ratio of -1.25 and a beta of 1.27. The business has a fifty day simple moving average of $3.96 and a 200 day simple moving average of $4.66. Hudson Pacific Properties has a 12 month low of $2.39 and a 12 month high of $9.85.

Insider Activity at Hudson Pacific Properties

In other news, CEO Victor J. Coleman purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $2.87 per share, with a total value of $143,500.00. Following the acquisition, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.95% of the stock is currently owned by company insiders.

Institutional Trading of Hudson Pacific Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of Hudson Pacific Properties by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock worth $6,209,000 after purchasing an additional 43,728 shares during the period. Wolverine Asset Management LLC increased its position in Hudson Pacific Properties by 6.4% in the second quarter. Wolverine Asset Management LLC now owns 404,949 shares of the real estate investment trust’s stock worth $1,948,000 after buying an additional 24,235 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Hudson Pacific Properties by 37.3% in the second quarter. Victory Capital Management Inc. now owns 110,566 shares of the real estate investment trust’s stock valued at $532,000 after buying an additional 30,058 shares during the period. Davis Selected Advisers lifted its position in shares of Hudson Pacific Properties by 78.0% during the 2nd quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock valued at $5,890,000 after buying an additional 536,540 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Hudson Pacific Properties by 28.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 142,802 shares of the real estate investment trust’s stock worth $687,000 after acquiring an additional 31,939 shares during the period. 97.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HPP. Wells Fargo & Company reduced their price target 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. Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price target for the company from $5.50 to $5.00 in a research report on Tuesday, November 12th. Scotiabank dropped their price target 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. Piper Sandler lowered their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Bank of America cut their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.17.

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.