Hudson Pacific Properties (NYSE:HPP) Shares Down 7.4%

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) were down 7.4% during trading on Thursday . The company traded as low as $5.15 and last traded at $5.27. Approximately 618,587 shares traded hands during trading, a decline of 76% from the average daily volume of 2,568,317 shares. The stock had previously closed at $5.69.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HPP shares. Piper Sandler reiterated an “overweight” rating and issued a $7.00 price target (down from $9.00) on shares of Hudson Pacific Properties in a research report on Friday. Wolfe Research upgraded 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 report on Monday, March 18th. Wedbush cut Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $11.00 to $7.50 in a research report on Tuesday, February 20th. Morgan Stanley lowered 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. Finally, The Goldman Sachs Group boosted their price objective on Hudson Pacific Properties from $7.10 to $10.60 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.85.

Hudson Pacific Properties Stock Up 1.4 %

The company has a current ratio of 1.85, a quick ratio of 1.79 and a debt-to-equity ratio of 1.38. The firm’s fifty day simple moving average is $6.24 and its 200 day simple moving average is $6.85.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $223.42 million during the quarter, compared to analyst estimates of $223.93 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The firm’s revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 earnings per share. On average, sell-side analysts forecast that Hudson Pacific Properties, Inc. will post 1.05 EPS for the current fiscal year.

Hudson Pacific Properties Announces Dividend

The firm also recently declared a — dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were given a $0.05 dividend. The ex-dividend date was Friday, March 15th. Hudson Pacific Properties’s dividend payout ratio is presently -12.50%.

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, Director Barry A. Sholem bought 40,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the acquisition, the director now directly owns 70,176 shares in the company, valued at approximately $469,477.44. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Barry A. Sholem acquired 40,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average cost of $6.69 per share, with a total value of $267,600.00. Following the purchase, the director now directly owns 70,176 shares of the company’s stock, valued at $469,477.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CIO Drew Gordon sold 10,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the transaction, the executive now owns 116,694 shares of the company’s stock, valued at approximately $829,694.34. The disclosure for this sale can be found here. 2.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. raised its holdings in shares of Hudson Pacific Properties by 103,925.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 4,157 shares during the period. Quantbot Technologies LP purchased a new position in Hudson Pacific Properties in the 3rd quarter worth about $58,000. Optas LLC bought a new stake in Hudson Pacific Properties during the 3rd quarter valued at about $67,000. Sage Rhino Capital LLC bought a new position in Hudson Pacific Properties in the 3rd quarter worth about $67,000. Finally, Paces Ferry Wealth Advisors LLC purchased a new position in shares of Hudson Pacific Properties during the third quarter worth approximately $71,000. 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.