Hudson Pacific Properties (NYSE:HPP) Trading 8.9% Higher – Time to Buy?

Hudson Pacific Properties, Inc. (NYSE:HPP) was up 8.9% on Wednesday . The stock traded as high as $4.51 and last traded at $4.40. Approximately 641,225 shares traded hands during trading, a decline of 73% from the average daily volume of 2,371,872 shares. The stock had previously closed at $4.04.

Analysts Set New Price Targets

Several equities analysts have weighed in on HPP shares. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $5.50 to $5.00 in a research report on Tuesday. Wells Fargo & Company cut their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Bank of America cut their target price on shares of 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. Scotiabank cut their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Finally, The Goldman Sachs Group cut their target price on shares of 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.30.

Hudson Pacific Properties Stock Performance

The firm has a market cap of $560.68 million, a P/E ratio of -1.90 and a beta of 1.31. The stock’s 50 day moving average is $4.62 and its two-hundred day moving average is $4.96. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the sale, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This represents a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Institutional Trading of Hudson Pacific Properties

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC bought a new stake in shares of Hudson Pacific Properties during the second quarter valued at approximately $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Hudson Pacific Properties by 450.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock valued at $5,096,000 after purchasing an additional 872,538 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after purchasing an additional 720,549 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Hudson Pacific Properties by 13.8% during the third 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 purchasing an additional 630,932 shares during the last quarter. 97.58% of the stock is owned by institutional investors.

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.