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

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

Analyst Ratings Changes

A number of equities analysts have commented on HPP shares. BMO Capital Markets lifted their target price on shares of Hudson Pacific Properties from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. The Goldman Sachs Group upped their price target on Hudson Pacific Properties from $7.10 to $10.60 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Wolfe Research raised shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price on the stock in a research report on Monday, March 18th. Morgan Stanley decreased their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Finally, Wedbush cut shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $7.50 in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.05.

Hudson Pacific Properties Stock Performance

The stock’s fifty day simple moving average is $6.28 and its 200-day simple moving average is $6.86. The company has a market capitalization of $770.68 million, a price-to-earnings ratio of -3.77, a price-to-earnings-growth ratio of 0.49 and a beta of 1.31. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.31.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. Hudson Pacific Properties had a negative return on equity of 5.74% and a negative net margin of 19.20%. The business had revenue of $223.42 million for the quarter, compared to analysts’ expectations of $223.93 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. Analysts predict that Hudson Pacific Properties, Inc. will post 1.05 EPS for the current year.

Hudson Pacific Properties Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were given a dividend of $0.05 per share. The ex-dividend date was Friday, March 15th. Hudson Pacific Properties’s dividend payout ratio is presently -14.60%.

Insider Activity at Hudson Pacific Properties

In other 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 value of $71,100.00. Following the sale, the executive now directly owns 116,694 shares in the company, valued at approximately $829,694.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CIO Drew Gordon sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barry A. Sholem acquired 40,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the acquisition, the director now owns 70,176 shares in the company, valued at approximately $469,477.44. The disclosure for this purchase can be found here. 2.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. increased its position in Hudson Pacific Properties by 103,925.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 4,157 shares during the period. Quantbot Technologies LP acquired a new position in shares of Hudson Pacific Properties in the 3rd quarter valued at $58,000. Optas LLC purchased a new position in Hudson Pacific Properties during the 3rd quarter worth $67,000. Sage Rhino Capital LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at $67,000. Finally, Paces Ferry Wealth Advisors LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at $71,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

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.