Hudson Pacific Properties (NYSE:HPP) Shares Gap Up After Insider Buying Activity

Hudson Pacific Properties, Inc. (NYSE:HPP)’s share price gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $3.62, but opened at $3.82. Hudson Pacific Properties shares last traded at $3.77, with a volume of 135,241 shares changing hands.

Specifically, CEO Victor J. Coleman purchased 50,000 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $3.53 per share, with a total value of $176,500.00. Following the acquisition, the chief executive officer now directly owns 437,451 shares of the company’s stock, valued at $1,544,202.03. This represents a 12.90 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price objective for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Bank of America cut their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Finally, Piper Sandler dropped their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.17.

Hudson Pacific Properties Price Performance

The stock has a fifty day moving average of $4.38 and a 200-day moving average of $4.84. The firm has a market capitalization of $543.74 million, a P/E ratio of -1.84 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HPP. Barclays PLC raised its holdings in Hudson Pacific Properties by 120.9% during the 3rd quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust’s stock worth $1,168,000 after purchasing an additional 133,673 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Hudson Pacific Properties by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock worth $16,381,000 after buying an additional 154,101 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Hudson Pacific Properties by 11.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 212,406 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 22,167 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Hudson Pacific Properties by 13.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 185,000 shares of the real estate investment trust’s stock worth $884,000 after buying an additional 22,300 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Hudson Pacific Properties in the third quarter valued at approximately $592,000. Institutional investors 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.