Hudson Pacific Properties (NYSE:HPP) Trading Down 7.4%

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) shares fell 7.4% on Thursday . The company traded as low as $5.15 and last traded at $5.27. 618,587 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 2,568,317 shares. The stock had previously closed at $5.69.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HPP. The Goldman Sachs Group boosted their price target on shares of Hudson Pacific Properties from $7.10 to $10.60 and gave the company a "neutral" rating in a research report on Thursday, January 11th. BMO Capital Markets boosted their price target on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the company an "outperform" rating in a research report on Thursday, January 4th. Wedbush cut shares of Hudson Pacific Properties from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $11.00 to $7.50 in a research report on Tuesday, February 20th. Morgan Stanley reduced their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Thursday, March 28th. Finally, Piper Sandler reduced their target price on shares of Hudson Pacific Properties from $11.00 to $9.00 and set an "overweight" rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties has an average rating of "Hold" and a consensus target price of $9.05.

Hudson Pacific Properties Stock Performance

The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.31. The company has a market cap of $770.68 million, a PE ratio of -3.99, a P/E/G ratio of 0.49 and a beta of 1.31. The stock's 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $6.86.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last released its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $223.42 million during the quarter, compared to analyst estimates of $223.93 million. Hudson Pacific Properties had a negative net margin of 19.20% and a negative return on equity of 5.74%. The business's quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, research analysts anticipate that Hudson Pacific Properties, Inc. will post 1.05 earnings per share for the current year.

Hudson Pacific Properties Announces Dividend

The company also recently declared a -- dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties's payout ratio is -14.60%.

Insider Activity at Hudson Pacific Properties

In related news, CIO Drew Gordon sold 10,000 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $7.11, for a total transaction of $71,100.00. Following the completion of the sale, the executive now directly owns 116,694 shares of the company's stock, valued at approximately $829,694.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $7.11, for a total transaction of $71,100.00. Following the completion of the transaction, the executive now directly owns 116,694 shares of the company's stock, valued at approximately $829,694.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barry A. Sholem acquired 40,000 shares of the firm's stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $6.69 per share, with a total value of $267,600.00. Following the completion of the acquisition, the director now owns 70,176 shares in the company, valued at $469,477.44. The disclosure for this purchase can be found here. Company insiders own 2.95% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its holdings in Hudson Pacific Properties by 17.0% during the 1st quarter. Jennison Associates LLC now owns 141,425 shares of the real estate investment trust's stock worth $912,000 after acquiring an additional 20,589 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Hudson Pacific Properties by 8.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 41,396 shares of the real estate investment trust's stock worth $267,000 after buying an additional 3,081 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Hudson Pacific Properties in the 1st quarter worth about $510,000. BNP Paribas Financial Markets lifted its position in shares of Hudson Pacific Properties by 95.7% in the 1st quarter. BNP Paribas Financial Markets now owns 158,549 shares of the real estate investment trust's stock worth $1,023,000 after buying an additional 77,553 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Hudson Pacific Properties by 21.3% in the 1st quarter. Principal Financial Group Inc. now owns 803,693 shares of the real estate investment trust's stock worth $5,184,000 after buying an additional 141,045 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

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.