Hudson Pacific Properties (NYSE:HPP) Shares Gap Down to $6.69

Hudson Pacific Properties, Inc. (NYSE:HPP) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.69, but opened at $6.28. Hudson Pacific Properties shares last traded at $6.19, with a volume of 416,116 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HPP shares. Jefferies Financial Group upgraded Hudson Pacific Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $12.00 in a research note on Tuesday, January 2nd. Wedbush lowered shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $11.00 to $7.50 in a report on Tuesday, February 20th. Wolfe Research raised Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target for the company in a research report on Monday, March 18th. BMO Capital Markets increased their price objective on Hudson Pacific Properties from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, BTIG Research lifted their target price on Hudson Pacific Properties from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, December 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Hudson Pacific Properties presently has an average rating of “Hold” and a consensus target price of $9.05.

Hudson Pacific Properties Stock Performance

The company has a market capitalization of $892.77 million, a PE ratio of -4.62, a PEG ratio of 0.54 and a beta of 1.30. The firm has a 50-day moving average of $6.69 and a two-hundred day moving average of $6.89. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.31.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results 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 net margin of 19.20% and a negative return on equity of 5.74%. The firm had revenue of $223.42 million during the quarter, compared to analysts’ expectations of $223.93 million. The business’s revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Research analysts anticipate that Hudson Pacific Properties, Inc. will post 1.05 EPS for the current year.

Hudson Pacific Properties Announces Dividend

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

Insider Activity

In other Hudson Pacific Properties news, Director Barry A. Sholem purchased 40,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the transaction, the director now owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CIO Drew Gordon sold 10,000 shares of the business’s stock in a transaction dated 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 owns 116,694 shares of the company’s stock, valued at $829,694.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry A. Sholem purchased 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the purchase, the director now directly owns 70,176 shares in the company, valued at approximately $469,477.44. The disclosure for this purchase can be found here. Insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

A number of hedge funds have recently made changes to their positions in HPP. BlackRock Inc. increased its position in shares of Hudson Pacific Properties by 0.6% during the second quarter. BlackRock Inc. now owns 24,343,532 shares of the real estate investment trust’s stock worth $102,730,000 after purchasing an additional 148,537 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hudson Pacific Properties by 0.7% during the first quarter. Vanguard Group Inc. now owns 22,183,249 shares of the real estate investment trust’s stock worth $615,584,000 after buying an additional 160,204 shares in the last quarter. Norges Bank acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at about $101,242,000. State Street Corp lifted its stake in shares of Hudson Pacific Properties by 10.6% in the second quarter. State Street Corp now owns 9,164,405 shares of the real estate investment trust’s stock worth $38,674,000 after buying an additional 875,483 shares in the last quarter. Finally, FMR LLC boosted its position in Hudson Pacific Properties by 6,191.3% during the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock worth $35,869,000 after acquiring an additional 5,308,032 shares during the last quarter. Institutional investors and hedge funds 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.