Hudson Pacific Properties (NYSE:HPP) Hits New 52-Week Low – Here’s Why

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) hit a new 52-week low during trading on Tuesday . The company traded as low as $4.09 and last traded at $4.14, with a volume of 1838464 shares trading hands. The stock had previously closed at $4.44.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HPP. Wells Fargo & Company decreased 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 note on Wednesday, September 11th. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $6.00 in a research report on Thursday, August 8th. Bank of America decreased their price target on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. Finally, BMO Capital Markets cut shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and a consensus target price of $6.30.

Hudson Pacific Properties Stock Down 9.0 %

The stock has a market cap of $570.58 million, a P/E ratio of -2.42 and a beta of 1.31. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. The business has a 50-day simple moving average of $4.68 and a 200-day simple moving average of $4.99.

Insiders Place Their Bets

In other news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the transaction, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the sale, the director now owns 3,713 shares in the company, valued at $19,307.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Institutional Trading of Hudson Pacific Properties

Large investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 5,013 shares during the period. Venturi Wealth Management LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at about $44,000. Key Client Fiduciary Advisors LLC acquired a new position in Hudson Pacific Properties in the second quarter valued at about $53,000. MQS Management LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at about $58,000. Finally, Metis Global Partners LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at about $66,000. Institutional investors own 97.58% of the company’s stock.

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.