Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Victor J. Coleman Buys 50,000 Shares

Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Victor J. Coleman bought 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $3.53 per share, with a total value of $176,500.00. Following the acquisition, the chief executive officer now owns 437,451 shares of the company’s stock, valued at $1,544,202.03. The trade was a 12.90 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Hudson Pacific Properties Stock Up 0.8 %

HPP stock opened at $3.62 on Wednesday. The stock has a market capitalization of $511.25 million, a P/E ratio of -1.73 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 52 week low of $3.01 and a 52 week high of $9.85. The firm has a 50-day simple moving average of $4.41 and a 200-day simple moving average of $4.85. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler cut their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Scotiabank reduced their price target 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. Jefferies Financial Group downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating and decreased their price target for the company from $5.50 to $5.00 in a report on Tuesday, November 12th. The Goldman Sachs Group decreased their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company dropped their target price 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.17.

Institutional Investors Weigh In On Hudson Pacific Properties

Several large investors have recently bought and sold shares of HPP. Anthracite Investment Company Inc. acquired a new stake in shares of Hudson Pacific Properties in the third quarter worth approximately $1,320,000. Wolverine Asset Management LLC lifted its holdings in Hudson Pacific Properties by 42.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock valued at $2,755,000 after purchasing an additional 171,424 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Hudson Pacific Properties during the 3rd quarter worth $1,332,000. Millennium Management LLC grew its holdings in shares of Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares in the last quarter. Finally, Scion Asset Management LLC purchased a new stake in shares of Hudson Pacific Properties during the second quarter worth $5,505,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

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.