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 purchased 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hudson Pacific Properties Stock Up 0.4 %

Hudson Pacific Properties stock opened at $2.61 on Friday. The company’s 50-day moving average price is $3.96 and its two-hundred day moving average price is $4.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a market cap of $368.62 million, a P/E ratio of -1.25 and a beta of 1.27. Hudson Pacific Properties, Inc. has a twelve month low of $2.39 and a twelve month high of $9.85.

Hedge Funds Weigh In On Hudson Pacific Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in Hudson Pacific Properties by 282.7% in the 2nd 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 period. Scion Asset Management LLC bought a new position in Hudson Pacific Properties during the 2nd quarter worth $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $5,096,000 after buying an additional 872,538 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Hudson Pacific Properties by 1,822.5% in 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 acquiring an additional 720,549 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Hudson Pacific Properties by 13.8% in 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 acquiring an additional 630,932 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Analyst Ratings Changes

HPP has been the subject of several analyst reports. Scotiabank decreased 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 note on Monday, August 26th. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and cut their price target for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Piper Sandler lowered their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Bank of America dropped their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lowered their price target on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.