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Hudson Pacific Properties, Inc. (NYSE:HPP) CIO Acquires $24,998.30 in Stock

Hudson Pacific Properties logo with Finance background

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) CIO Drew Gordon acquired 11,210 shares of the stock in a transaction dated Thursday, June 12th. The stock was acquired at an average cost of $2.23 per share, with a total value of $24,998.30. Following the transaction, the executive now owns 119,988 shares of the company's stock, valued at approximately $267,573.24. This trade represents a 10.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hudson Pacific Properties Trading Up 2.6%

Shares of HPP stock traded up $0.07 during mid-day trading on Thursday, reaching $2.83. The company's stock had a trading volume of 13,775,753 shares, compared to its average volume of 3,556,805. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $400.56 million, a PE ratio of -1.04 and a beta of 1.43. The company's 50 day simple moving average is $2.21 and its 200-day simple moving average is $2.72. Hudson Pacific Properties, Inc. has a 12-month low of $1.78 and a 12-month high of $6.29.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on HPP. Wedbush reiterated a "neutral" rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Piper Sandler set a $2.00 price target on shares of Hudson Pacific Properties and gave the stock a "neutral" rating in a research note on Friday, May 23rd. The Goldman Sachs Group decreased their price target on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Odeon Capital Group started coverage on Hudson Pacific Properties in a report on Monday. They set a "buy" rating and a $5.00 price objective for the company. Finally, BMO Capital Markets cut their target price on Hudson Pacific Properties from $4.00 to $3.50 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $3.51.

Check Out Our Latest Stock Analysis on HPP

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently modified their holdings of the stock. GeoWealth Management LLC acquired a new position in Hudson Pacific Properties during the 4th quarter worth approximately $27,000. US Bancorp DE grew its position in Hudson Pacific Properties by 1,053.7% in the first quarter. US Bancorp DE now owns 9,772 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 8,925 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter valued at approximately $30,000. Cibc World Markets Corp acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth $39,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Hudson Pacific Properties in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 97.58% of the company's stock.

About Hudson Pacific Properties

(Get Free Report)

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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