Barry A. Sholem Purchases 224,215 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) Stock

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) Director Barry A. Sholem acquired 224,215 shares of the business's stock in a transaction dated 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 acquisition, the director now owns 400,743 shares of the company's stock, valued at approximately $893,656.89. This trade represents a 127.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hudson Pacific Properties Stock Up 2.6%

Hudson Pacific Properties stock traded up $0.07 during mid-day trading on Wednesday, hitting $2.83. The company's stock had a trading volume of 13,775,671 shares, compared to its average volume of 3,547,600. Hudson Pacific Properties, Inc. has a 52-week low of $1.78 and a 52-week high of $6.29. The company has a market cap of $400.56 million, a PE 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. The firm's 50 day moving average is $2.20 and its 200 day moving average is $2.72.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HPP shares. Piper Sandler set a $2.00 price objective 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 research report on Tuesday, April 22nd. Jefferies Financial Group began coverage on Hudson Pacific Properties in a research report on Monday, March 17th. They set a "hold" rating and a $2.70 price objective for the company. Scotiabank reduced their price objective on Hudson Pacific Properties from $4.00 to $3.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. Finally, BTIG Research set a $8.00 target price on Hudson Pacific Properties and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Two equities research 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.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of institutional investors have recently modified their holdings of HPP. GeoWealth Management LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth $27,000. US Bancorp DE increased its position in Hudson Pacific Properties by 1,053.7% in the 1st 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 during the last quarter. Xponance Inc. purchased a new stake in shares of Hudson Pacific Properties during the 4th quarter worth about $30,000. Cibc World Markets Corp acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at about $39,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 97.58% of the company's stock.

Hudson Pacific Properties Company Profile

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.