Insider Buying: Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Buys 50,000 Shares of Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Victor J. Coleman acquired 50,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the purchase, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hudson Pacific Properties Trading Up 0.4 %

HPP stock traded up $0.01 during midday trading on Thursday, reaching $2.61. The stock had a trading volume of 9,921,131 shares, compared to its average volume of 2,595,495. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties, Inc. has a twelve month low of $2.39 and a twelve month high of $9.85. The firm has a market cap of $368.62 million, a price-to-earnings ratio of -1.25 and a beta of 1.27. The business has a fifty day simple moving average of $4.00 and a two-hundred day simple moving average of $4.67.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of institutional investors and hedge funds have recently modified their holdings of HPP. Blue Trust Inc. boosted its holdings 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 buying an additional 5,013 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Hudson Pacific Properties during the 3rd quarter worth approximately $44,000. Stifel Financial Corp bought a new stake in Hudson Pacific Properties in the third quarter valued at approximately $48,000. MQS Management LLC bought a new position in shares of Hudson Pacific Properties during the third quarter worth $58,000. Finally, Metis Global Partners LLC acquired a new position in shares of Hudson Pacific Properties in the 3rd quarter valued at $66,000. 97.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HPP has been the topic of a number of research reports. Bank of America dropped their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Scotiabank dropped their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Piper Sandler reduced their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company cut their target price on 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. Finally, Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and reduced their target price for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.17.

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.