Insider Buying: Hudson Pacific Properties, Inc. (NYSE:HPP) Director Acquires 89,686 Shares of Stock

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) Director Ted R. Antenucci acquired 89,686 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average cost of $2.23 per share, with a total value of $199,999.78. Following the purchase, the director now directly owns 254,934 shares of the company's stock, valued at $568,502.82. This trade represents a 54.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Hudson Pacific Properties Trading Up 2.6%

Shares of NYSE HPP traded up $0.07 during mid-day trading on Thursday, hitting $2.83. The stock had a trading volume of 13,775,753 shares, compared to its average volume of 3,556,805. The business has a 50 day moving average price of $2.21 and a two-hundred day moving average price of $2.72. Hudson Pacific Properties, Inc. has a 1 year low of $1.78 and a 1 year high of $6.29. 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 firm has a market cap of $400.56 million, a P/E ratio of -1.04 and a beta of 1.43.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced 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. The business had revenue of $198.46 million for the quarter, compared to analyst estimates of $199.95 million. Hudson Pacific Properties had a negative net margin of 47.56% and a negative return on equity of 14.12%. On average, equities analysts anticipate that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on HPP. Wedbush restated a "neutral" rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. BTIG Research set a $8.00 price objective on Hudson Pacific Properties and gave the stock a "buy" rating in a report on Tuesday, May 6th. Odeon Capital Group started coverage on shares of Hudson Pacific Properties in a research note on Monday. They issued a "buy" rating and a $5.00 target price on the stock. 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. Finally, 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 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $3.51.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently made changes to their positions in HPP. Millennium Management LLC raised its holdings in shares of Hudson Pacific Properties by 303.5% during the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust's stock valued at $22,374,000 after acquiring an additional 5,554,444 shares in the last quarter. Bank of America Corp DE increased its position in Hudson Pacific Properties by 113.8% during the 4th quarter. Bank of America Corp DE now owns 1,129,267 shares of the real estate investment trust's stock valued at $3,422,000 after purchasing an additional 601,074 shares during the period. Brown University bought a new position in Hudson Pacific Properties in the 4th quarter worth $1,832,000. Helix Partners Management LP bought a new position in Hudson Pacific Properties in the 4th quarter worth $579,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter worth about $45,000. 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.