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

Hudson Pacific Properties, Inc. (NYSE:HPP)’s stock price gapped up prior to trading on Wednesday following insider buying activity. 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 traded.

Specifically, CEO Victor J. Coleman acquired 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $3.53 per share, with a total value of $176,500.00. Following the purchase, the chief executive officer now owns 437,451 shares in the company, valued at $1,544,202.03. This trade represents a 12.90 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

Several research analysts recently commented on HPP shares. Wells Fargo & Company reduced 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. Jefferies Financial Group cut Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price target for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, Piper Sandler lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Stock Up 3.6 %

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 company has a market cap of $529.61 million, a price-to-earnings ratio of -1.73 and a beta of 1.31. The business has a 50-day simple moving average of $4.38 and a 200-day simple moving average of $4.84.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in Hudson Pacific Properties by 549.1% during the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 5,013 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Hudson Pacific Properties during the third quarter worth approximately $44,000. Stifel Financial Corp purchased a new stake in Hudson Pacific Properties during the third quarter worth approximately $48,000. Key Client Fiduciary Advisors LLC purchased a new stake in Hudson Pacific Properties during the second quarter worth approximately $53,000. Finally, MQS Management LLC purchased a new stake in Hudson Pacific Properties in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

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.