Hudson Pacific Properties (NYSE:HPP) Shares Pass Above 200-Day Moving Average - Here's Why

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) shares 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 traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating for the company in a research report on Monday, May 19th. Odeon Capital Group started coverage on Hudson Pacific Properties in a research report on Monday, June 16th. They set a "buy" rating and a $5.00 target price for the company. BMO Capital Markets lowered their target price on shares of Hudson Pacific Properties from $4.00 to $3.50 and set an "outperform" rating for the company in a research note on Friday, June 13th. Morgan Stanley reissued an "underweight" rating and set a $1.75 target price on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. Finally, 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 for the company in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $3.22.

Hudson Pacific Properties Price Performance

The company has a debt-to-equity ratio of 1.62, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a fifty day moving average of $2.33 and a two-hundred day moving average of $2.66. The stock has a market capitalization of $384.58 million, a P/E ratio of -1.00 and a beta of 1.56.

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

Insider Transactions at Hudson Pacific Properties

In other news, Director Ted R. Antenucci acquired 89,686 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average cost of $2.23 per share, for a total transaction of $199,999.78. Following the completion of the acquisition, the director directly owned 254,934 shares of the company's stock, valued at $568,502.82. The trade was a 54.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barry A. Sholem bought 224,215 shares of Hudson Pacific Properties stock in a transaction on Thursday, June 12th. The stock was purchased at an average price of $2.23 per share, with a total value of $499,999.45. Following the completion of the acquisition, the director directly owned 400,743 shares of the company's stock, valued at $893,656.89. This represents a 127.01% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 1,139,007 shares of company stock valued at $2,539,986 over the last three months. 4.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Large investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC bought a new position in Hudson Pacific Properties in the fourth quarter worth about $27,000. US Bancorp DE grew its stake 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 acquiring an additional 8,925 shares during the last quarter. Xponance Inc. purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $30,000. Cibc World Markets Corp purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $39,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $40,000. 97.58% of the stock is currently owned by 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.