Hudson Pacific Properties Sees Unusually High Options Volume (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) was the recipient of some unusual options trading on Wednesday. Investors purchased 10,565 put options on the company. This represents an increase of approximately 337% compared to the average daily volume of 2,420 put options.

Insider Transactions at Hudson Pacific Properties

In other news, Director Robert L. Harris II purchased 44,843 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were purchased at an average price of $2.23 per share, with a total value of $99,999.89. Following the transaction, the director directly owned 174,731 shares of the company's stock, valued at approximately $389,650.13. This represents a 34.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Sholem purchased 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, for a total transaction of $499,999.45. Following the transaction, the director directly owned 400,743 shares in the company, valued at approximately $893,656.89. The trade was a 127.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,139,007 shares of company stock worth $2,539,986. Company insiders own 4.92% of the company's stock.

Institutional Trading of Hudson Pacific Properties

A number of institutional investors have recently made changes to their positions in the business. GC Wealth Management RIA LLC acquired a new stake in shares of Hudson Pacific Properties in the 2nd quarter worth $44,000. State of Alaska Department of Revenue raised its stake in Hudson Pacific Properties by 136.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 155,100 shares of the real estate investment trust's stock worth $424,000 after acquiring an additional 89,494 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Hudson Pacific Properties by 133.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 500,928 shares of the real estate investment trust's stock worth $1,373,000 after acquiring an additional 286,477 shares during the last quarter. Ballentine Partners LLC raised its stake in Hudson Pacific Properties by 52.0% in the 2nd quarter. Ballentine Partners LLC now owns 22,492 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 7,690 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in Hudson Pacific Properties in the 2nd quarter worth $131,000. Institutional investors and hedge funds own 97.58% of the company's stock.

Hudson Pacific Properties Trading Down 2.1%

HPP stock traded down $0.06 during midday trading on Friday, reaching $2.54. 2,438,810 shares of the company traded hands, compared to its average volume of 4,946,915. 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 business has a 50 day moving average of $2.44 and a 200-day moving average of $2.65. Hudson Pacific Properties has a 52-week low of $1.78 and a 52-week high of $6.28. The firm has a market capitalization of $358.42 million, a price-to-earnings ratio of -0.93 and a beta of 1.56.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $198.46 million for 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%. As a group, sell-side analysts expect that Hudson Pacific Properties will post 0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HPP. Piper Sandler set a $2.00 price target on Hudson Pacific Properties and gave the company a "neutral" rating in a research report on Friday, May 23rd. Wedbush reaffirmed a "neutral" rating on shares of Hudson Pacific Properties in a research report on Monday, May 5th. Morgan Stanley reaffirmed an "underweight" rating and set a $1.75 price target on shares of Hudson Pacific Properties in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their price objective on Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, The Goldman Sachs Group dropped 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of "Hold" and an average price target of $3.22.

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.