Hudson Pacific Properties (NYSE:HPP) Shares Gap Down to $5.15

Hudson Pacific Properties, Inc. (NYSE:HPP)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $5.15, but opened at $4.96. Hudson Pacific Properties shares last traded at $4.85, with a volume of 666,814 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on HPP shares. Morgan Stanley lowered Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $6.00 to $4.25 in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Piper Sandler reaffirmed an “overweight” rating and set a $7.00 target price on shares of Hudson Pacific Properties in a research note on Thursday, June 27th. Finally, Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price on the stock in a report on Monday, March 18th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.32.

Hudson Pacific Properties Price Performance

The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.85 and a current ratio of 1.85. The stock’s 50-day moving average is $5.02 and its two-hundred day moving average is $6.48. The stock has a market cap of $661.99 million, a PE ratio of -3.03, a PEG ratio of 0.64 and a beta of 1.32.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.53). The firm had revenue of $214.02 million for the quarter, compared to analysts’ expectations of $220.61 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. On average, equities analysts predict that Hudson Pacific Properties, Inc. will post 0.86 earnings per share for the current year.

Hudson Pacific Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 4.26%. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently -12.50%.

Insider Activity

In related news, CEO Victor J. Coleman sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total transaction of $518,000.00. Following the sale, the chief executive officer now directly owns 387,451 shares of the company’s stock, valued at approximately $2,006,996.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders acquired 13,420 shares of company stock valued at $59,912. 3.92% of the stock is currently owned by company insiders.

Institutional Trading of Hudson Pacific Properties

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 2,286 shares in the last quarter. Versor Investments LP acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth about $99,000. Spirit of America Management Corp NY purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth approximately $102,000. GAMMA Investing LLC acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $102,000. Finally, First Trust Direct Indexing L.P. purchased a new position in Hudson Pacific Properties in the fourth quarter worth approximately $102,000. Hedge funds and other institutional investors 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.