Victor J. Coleman Purchases 224,215 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) Stock

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) CEO Victor J. Coleman purchased 224,215 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were purchased at an average price of $2.23 per share, for a total transaction of $499,999.45. Following the completion of the purchase, the chief executive officer now directly owns 711,666 shares of the company's stock, valued at $1,587,015.18. This represents a 46.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Hudson Pacific Properties Stock Up 2.6%

Shares of HPP traded up $0.07 during midday trading on Thursday, reaching $2.83. The stock had a trading volume of 13,775,753 shares, compared to its average volume of 3,556,805. Hudson Pacific Properties, Inc. has a 1-year low of $1.78 and a 1-year high of $6.29. The company's fifty day simple moving average is $2.21 and its two-hundred day simple moving average is $2.72. The company has a market cap of $400.56 million, a price-to-earnings ratio of -1.04 and a beta of 1.43. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.79 and a quick ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $198.46 million for the quarter, compared to analyst estimates of $199.95 million. Hudson Pacific Properties had a negative return on equity of 14.12% and a negative net margin of 47.56%. Equities research analysts expect that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on HPP. The Goldman Sachs Group dropped their target price on Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler set a $2.00 price objective on shares of Hudson Pacific Properties and gave the company a "neutral" rating in a report on Friday, May 23rd. Odeon Capital Group initiated coverage on shares of Hudson Pacific Properties in a research note on Monday. They set a "buy" rating and a $5.00 target price on the stock. Wedbush reiterated a "neutral" rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Finally, Wells Fargo & Company dropped their price target on shares of Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of "Hold" and a consensus price target of $3.51.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds have recently added to or reduced their stakes in the stock. GeoWealth Management LLC purchased a new stake in Hudson Pacific Properties in the fourth quarter valued at $27,000. US Bancorp DE increased its position in shares of Hudson Pacific Properties by 1,053.7% during the first quarter. US Bancorp DE now owns 9,772 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 8,925 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $30,000. Cibc World Markets Corp purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $39,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $40,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

About Hudson Pacific Properties

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.