Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Buys $143,500.00 in Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Victor J. Coleman purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the chief executive officer now directly owns 487,451 shares in the company, valued at $1,398,984.37. The trade was a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hudson Pacific Properties Stock Up 12.3 %

Shares of NYSE:HPP opened at $2.93 on Friday. The company has a market capitalization of $413.81 million, a price-to-earnings ratio of -1.40 and a beta of 1.27. The company has a 50 day moving average of $3.90 and a two-hundred day moving average of $4.63. Hudson Pacific Properties, Inc. has a 52-week low of $2.39 and a 52-week high of $9.85. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings 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 worth $8,594,000 after buying an additional 1,319,869 shares in the last quarter. Scion Asset Management LLC purchased a new stake in shares of Hudson Pacific Properties during the second quarter worth about $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Hudson Pacific Properties by 450.9% in 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 acquiring an additional 872,538 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in 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 purchasing an additional 720,549 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Hudson Pacific Properties by 13.8% during the 3rd 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 purchasing an additional 630,932 shares in the last quarter. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HPP. Piper Sandler decreased their target price on shares of 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. Wells Fargo & Company decreased their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th. Jefferies Financial Group downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price objective for the company from $5.50 to $5.00 in a research report on Tuesday, November 12th. Finally, Scotiabank reduced their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Two investment 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, Hudson Pacific Properties has a consensus rating of “Hold” and an average 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.