Hudson Pacific Properties (NYSE:HPP) Stock Price Down 4.1% on Insider Selling

Hudson Pacific Properties, Inc. (NYSE:HPP) traded down 4.1% during trading on Wednesday following insider selling activity. The company traded as low as $4.65 and last traded at $4.68. 735,486 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 2,413,142 shares. The stock had previously closed at $4.88.

Specifically, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. 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 cut 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. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Morgan Stanley lowered 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, The Goldman Sachs Group cut their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.95.

Hudson Pacific Properties Price Performance

The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $5.40.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.50). The business had revenue of $218.00 million during the quarter, compared to analyst estimates 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 company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. As a group, sell-side analysts expect that Hudson Pacific Properties, Inc. will post 0.62 EPS for the current year.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH grew its holdings in Hudson Pacific Properties by 114.3% during the fourth quarter. Allianz Asset Management GmbH now owns 2,107,500 shares of the real estate investment trust’s stock valued at $19,621,000 after purchasing an additional 1,124,100 shares during the period. Presima Securities ULC grew its holdings in shares of Hudson Pacific Properties by 7.2% in the 4th quarter. Presima Securities ULC now owns 2,066,415 shares of the real estate investment trust’s stock valued at $19,238,000 after buying an additional 139,619 shares during the period. GRS Advisors LLC bought a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at $18,489,000. Millennium Management LLC raised its stake in Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares during the period. Finally, B&I Capital AG lifted its holdings in Hudson Pacific Properties by 23.4% during the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after acquiring an additional 322,033 shares in 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.