Hudson Pacific Properties, Inc. (NYSE:HPP) Short Interest Update

Hudson Pacific Properties, Inc. (NYSE:HPP) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 27,140,000 shares, an increase of 8.8% from the November 30th total of 24,950,000 shares. Currently, 19.8% of the shares of the stock are short sold. Based on an average trading volume of 3,810,000 shares, the days-to-cover ratio is presently 7.1 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HPP. Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price target for the company from $5.50 to $5.00 in a report on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Finally, Piper Sandler cut their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, Hudson Pacific Properties has an average rating of “Hold” and an average target price of $5.49.

Insiders Place Their Bets

In other Hudson Pacific Properties news, CEO Victor J. Coleman acquired 50,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.95% of the company’s stock.

Hedge Funds Weigh In On Hudson Pacific Properties

Several hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Hudson Pacific Properties by 13.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after buying an additional 630,932 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Hudson Pacific Properties by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock valued at $16,381,000 after purchasing an additional 154,101 shares during the period. Millennium Management LLC grew its stake in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. B&I Capital AG increased its holdings in Hudson Pacific Properties by 23.4% during the 2nd quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after purchasing an additional 322,033 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Hudson Pacific Properties by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock valued at $6,209,000 after purchasing an additional 43,728 shares in the last quarter. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Trading Up 4.8 %

HPP opened at $3.03 on Thursday. Hudson Pacific Properties has a one year low of $2.39 and a one year high of $9.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $427.93 million, a price-to-earnings ratio of -1.45 and a beta of 1.27. The stock’s 50 day moving average price is $3.63 and its 200-day moving average price is $4.53.

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.