Hudson Pacific Properties (NYSE:HPP) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.67 and traded as high as $2.77. Hudson Pacific Properties shares last traded at $2.69, with a volume of 19,030,862 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on HPP. Wedbush reaffirmed a "neutral" rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Piper Sandler set a $2.00 price target on Hudson Pacific Properties and gave the company a "neutral" rating in a report on Friday, May 23rd. Jefferies Financial Group began coverage on Hudson Pacific Properties in a research note on Monday, March 17th. They issued a "hold" rating and a $2.70 price objective on the stock. Odeon Capital Group began coverage on Hudson Pacific Properties in a report on Monday, June 16th. They issued a "buy" rating and a $5.00 target price for the company. Finally, Wells Fargo & Company decreased their price objective on Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating for the company in a report on Monday, May 19th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $3.22.

Hudson Pacific Properties Stock Performance

The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $380.34 million, a PE ratio of -0.99 and a beta of 1.56. The firm has a fifty day moving average price of $2.31 and a 200 day moving average price of $2.67.

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

Insider Buying and Selling

In related news, CEO Victor J. Coleman acquired 224,215 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were purchased at an average cost of $2.23 per share, with a total value of $499,999.45. Following the completion of the acquisition, the chief executive officer directly owned 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur X. Suazo bought 22,421 shares of Hudson Pacific Properties stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average price of $2.23 per share, with a total value of $49,998.83. Following the purchase, the executive vice president directly owned 115,123 shares in the company, valued at $256,724.29. The trade was a 24.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 1,139,007 shares of company stock worth $2,539,986 over the last ninety days. Company insiders own 4.92% of the company's stock.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPP. Resona Asset Management Co. Ltd. raised its stake in shares of Hudson Pacific Properties by 8.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 62,503 shares of the real estate investment trust's stock worth $186,000 after purchasing an additional 5,051 shares during the last quarter. Winslow Asset Management Inc. boosted its position in Hudson Pacific Properties by 15.8% in the first quarter. Winslow Asset Management Inc. now owns 49,030 shares of the real estate investment trust's stock valued at $145,000 after buying an additional 6,685 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Hudson Pacific Properties by 71.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 18,674 shares of the real estate investment trust's stock worth $57,000 after buying an additional 7,807 shares during the period. DekaBank Deutsche Girozentrale raised its position in Hudson Pacific Properties by 25.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 41,563 shares of the real estate investment trust's stock worth $122,000 after buying an additional 8,430 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Hudson Pacific Properties by 15.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 65,672 shares of the real estate investment trust's stock worth $199,000 after buying an additional 8,775 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company's stock.

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.

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