Insider Buying: Hudson Pacific Properties, Inc. (NYSE:HPP) VP Purchases 11,210 Shares of Stock

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) VP Kay Lee Tidwell purchased 11,210 shares of the stock in a transaction on Thursday, June 12th. The shares were purchased at an average cost of $2.23 per share, for a total transaction of $24,998.30. Following the acquisition, the vice president now directly owns 68,211 shares of the company's stock, valued at approximately $152,110.53. This represents a 19.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP traded up $0.02 during midday trading on Monday, hitting $2.76. The company's stock had a trading volume of 49,901,946 shares, compared to its average volume of 3,452,839. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The business's 50 day simple moving average is $2.18 and its 200 day simple moving average is $2.73. The company has a market cap of $389.53 million, a P/E ratio of -1.07 and a beta of 1.43. 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 released its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $198.46 million during the quarter, compared to analyst estimates of $199.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. On average, analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on HPP shares. The Goldman Sachs Group decreased their price objective on Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. BTIG Research set a $8.00 target price on shares of Hudson Pacific Properties and gave the stock a "buy" rating in a report on Tuesday, May 6th. Piper Sandler set a $2.00 target price on shares of Hudson Pacific Properties and gave the company a "neutral" rating in a research report on Friday, May 23rd. BMO Capital Markets cut their price target on shares of Hudson Pacific Properties from $4.00 to $3.50 and set an "outperform" rating on the stock in a research note on Friday. Finally, Wells Fargo & Company dropped their target price on Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $3.51.

Institutional Trading of Hudson Pacific Properties

Institutional investors have recently modified their holdings of the stock. GeoWealth Management LLC purchased a new stake in Hudson Pacific Properties during the 4th quarter valued at approximately $27,000. US Bancorp DE raised its position in 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 in the fourth quarter valued at $30,000. Cibc World Markets Corp acquired a new position in shares of Hudson Pacific Properties in the fourth quarter valued at approximately $39,000. Finally, Boothbay Fund Management LLC purchased a new position in Hudson Pacific Properties during the fourth quarter worth about $40,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.