Hudson Pacific Properties (NYSE:HPP) Trading 8.9% Higher – Time to Buy?

Hudson Pacific Properties, Inc. (NYSE:HPP) traded up 8.9% on Wednesday . The stock traded as high as $4.51 and last traded at $4.40. 641,225 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,371,872 shares. The stock had previously closed at $4.04.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $6.00 in a report on Thursday, August 8th. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and cut their price objective for the company from $5.50 to $5.00 in a report on Tuesday. Scotiabank cut their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, Bank of America cut their target price on shares of 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.30.

Hudson Pacific Properties Price Performance

The company’s 50-day moving average price is $4.62 and its 200-day moving average price is $4.96. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $560.68 million, a P/E ratio of -1.90 and a beta of 1.31.

Insider Transactions at Hudson Pacific Properties

In related news, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated 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 transaction, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Institutional Trading of Hudson Pacific Properties

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in Hudson Pacific Properties by 549.1% in the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 5,013 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Hudson Pacific Properties in the 3rd quarter worth about $44,000. Key Client Fiduciary Advisors LLC acquired a new stake in Hudson Pacific Properties in the 2nd quarter worth about $53,000. MQS Management LLC acquired a new stake in Hudson Pacific Properties in the 3rd quarter worth about $58,000. Finally, Metis Global Partners LLC acquired a new stake in Hudson Pacific Properties in the 3rd quarter worth about $66,000. Institutional investors and hedge funds 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.