Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) Director Erinn Burnough purchased 8,968 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were acquired at an average price of $2.23 per share, with a total value of $19,998.64. Following the purchase, the director now directly owns 109,051 shares in the company, valued at $243,183.73. This represents a 8.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hudson Pacific Properties Stock Performance
NYSE:HPP traded up $0.07 during trading hours 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. The stock has a market cap of $400.56 million, a P/E ratio of -1.04 and a beta of 1.43. The stock has a 50 day simple moving average of $2.21 and a 200 day simple moving average of $2.72. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.79 and a current ratio of 1.79. 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 data on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, hitting 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 company had revenue of $198.46 million during the quarter, compared to analyst estimates of $199.95 million. On average, research analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current fiscal year.
Hedge Funds Weigh In On Hudson Pacific Properties
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPP. Millennium Management LLC lifted its stake in shares of Hudson Pacific Properties by 303.5% during the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust's stock valued at $22,374,000 after buying an additional 5,554,444 shares in the last quarter. Bank of America Corp DE grew its stake in Hudson Pacific Properties by 113.8% in the 4th quarter. Bank of America Corp DE now owns 1,129,267 shares of the real estate investment trust's stock valued at $3,422,000 after buying an additional 601,074 shares in the last quarter. Brown University bought a new stake in Hudson Pacific Properties during the 4th quarter valued at $1,832,000. Helix Partners Management LP purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth $579,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth $45,000. Institutional investors own 97.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price 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. Wedbush reissued a "neutral" rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. BTIG Research set a $8.00 target price on Hudson Pacific Properties and gave the company a "buy" rating in a research report on Tuesday, May 6th. Piper Sandler set a $2.00 price target on Hudson Pacific Properties and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, Morgan Stanley restated an "underweight" rating and set a $1.75 price objective on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $3.51.
Read Our Latest Analysis on Hudson Pacific Properties
Hudson Pacific Properties Company Profile
(
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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