Hudson Pacific Properties Sees Unusually High Options Volume (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) saw unusually large options trading activity on Friday. Traders acquired 2,404 call options on the company. This is an increase of 50% compared to the typical daily volume of 1,600 call options.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HPP. Balyasny Asset Management L.P. raised its holdings in Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock worth $30,464,000 after purchasing an additional 7,303,472 shares in the last quarter. Millennium Management LLC grew its position in shares of Hudson Pacific Properties by 303.5% in the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after buying an additional 5,554,444 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Hudson Pacific Properties by 853.2% during the 4th quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust’s stock worth $5,590,000 after acquiring an additional 1,651,382 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Hudson Pacific Properties by 95.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust’s stock worth $7,895,000 after acquiring an additional 1,275,236 shares in the last quarter. Finally, Davis Selected Advisers lifted its position in Hudson Pacific Properties by 88.0% during the fourth quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock valued at $6,911,000 after acquiring an additional 1,067,940 shares during the last quarter. 97.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price for the company in a research report on Monday, March 10th. Piper Sandler dropped their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, February 24th. Morgan Stanley cut their price objective on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating on the stock in a research report on Tuesday, March 18th. The Goldman Sachs Group decreased their target price on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, BMO Capital Markets upgraded shares of Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $4.00 to $5.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.43.

Hudson Pacific Properties Stock Up 1.5 %

NYSE HPP traded up $0.05 during trading on Friday, reaching $3.06. 1,195,522 shares of the company’s stock traded hands, compared to its average volume of 2,774,942. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $6.69. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $431.83 million, a price-to-earnings ratio of -1.19 and a beta of 1.31. The company’s 50 day simple moving average is $3.03 and its two-hundred day simple moving average is $3.61.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. As a group, sell-side analysts forecast that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

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.