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

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

Analysts Set New Price Targets

Several research firms have recently weighed in on HPP. Bank of America dropped 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. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $5.50 to $5.00 in a research note on Tuesday. Piper Sandler downgraded Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $6.00 in a research note on Thursday, August 8th. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. Finally, Scotiabank reduced their price objective on 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. Two equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.30.

Hudson Pacific Properties Stock Down 5.7 %

The firm has a market cap of $560.68 million, a price-to-earnings ratio of -1.90 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 stock’s 50 day moving average is $4.62 and its 200 day moving average is $4.96.

Insider Buying and Selling at Hudson Pacific Properties

In other 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 value of $48,292.40. Following the sale, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This represents a 71.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at approximately $322,439.04. This represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Large investors have recently modified their holdings of the business. Fourthstone LLC acquired a new position in Hudson Pacific Properties during the third quarter valued at approximately $1,049,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hudson Pacific Properties by 450.9% in the 3rd 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 buying an additional 872,538 shares in the last quarter. Public Sector Pension Investment Board increased its position in Hudson Pacific Properties by 6.2% during the third quarter. Public Sector Pension Investment Board now owns 299,207 shares of the real estate investment trust’s stock worth $1,430,000 after acquiring an additional 17,527 shares during the period. Bridgewater Associates LP raised its position in shares of Hudson Pacific Properties by 56.2% in the third quarter. Bridgewater Associates LP now owns 24,590 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 8,844 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Hudson Pacific Properties by 16.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 6,704 shares during the period. 97.58% of the stock is currently owned by institutional investors.

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.