Hudson Pacific Properties, Inc. (NYSE:HPP – Get Free Report) 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.
View Our Latest Analysis on HPP
Hudson Pacific Properties Price Performance
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.
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