Hudson Pacific Properties, Inc. (NYSE:HPP) Short Interest Up 8.1% in August

Hudson Pacific Properties, Inc. (NYSE:HPP) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 24,380,000 shares, an increase of 8.1% from the July 31st total of 22,560,000 shares. Currently, 17.8% of the company’s shares are short sold. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is presently 10.6 days.

Institutional Investors Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in Hudson Pacific Properties by 225.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock worth $1,123,000 after acquiring an additional 116,945 shares during the period. GRS Advisors LLC acquired a new stake in shares of Hudson Pacific Properties during the 4th quarter worth approximately $18,489,000. GSA Capital Partners LLP lifted its holdings in shares of Hudson Pacific Properties by 167.2% in the 1st quarter. GSA Capital Partners LLP now owns 302,179 shares of the real estate investment trust’s stock worth $1,949,000 after purchasing an additional 189,104 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Hudson Pacific Properties by 405.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock valued at $1,995,000 after purchasing an additional 248,117 shares during the period. Finally, Checchi Capital Advisers LLC bought a new position in Hudson Pacific Properties during the 4th quarter worth $2,969,000. 97.58% of the stock is owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Performance

NYSE:HPP opened at $5.02 on Wednesday. The firm has a 50-day moving average of $5.20 and a two-hundred day moving average of $5.57. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $708.55 million, a P/E ratio of -3.14, a PEG ratio of 0.90 and a beta of 1.32. Hudson Pacific Properties has a 1-year low of $4.26 and a 1-year high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.50). The business had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $216.08 million. Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. On average, research analysts expect that Hudson Pacific Properties will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HPP. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Morgan Stanley cut shares of Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $6.00 to $4.25 in a research report on Wednesday, July 10th. Finally, Scotiabank cut their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and a consensus price target of $7.17.

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.