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

Hudson Pacific Properties, Inc. (NYSE:HPP) CEO Victor J. Coleman bought 50,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $2.87 per share, with a total value of $143,500.00. Following the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hudson Pacific Properties Stock Up 12.3 %

Hudson Pacific Properties stock opened at $2.93 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. Hudson Pacific Properties, Inc. has a one year low of $2.39 and a one year high of $9.85. The company has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $4.63. The firm has a market capitalization of $413.81 million, a P/E ratio of -1.40 and a beta of 1.27.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group lowered 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 report on Tuesday, November 12th. Piper Sandler lowered their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Wells Fargo & Company reduced their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Finally, Scotiabank lowered 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.17.

Institutional Investors Weigh In On Hudson Pacific Properties

Several large investors have recently made changes to their positions in HPP. Van ECK Associates Corp boosted its position in shares of Hudson Pacific Properties by 9.9% during the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 2,399 shares during the period. The Manufacturers Life Insurance Company boosted its position in Hudson Pacific Properties by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock worth $402,000 after acquiring an additional 2,408 shares during the period. abrdn plc grew its stake in shares of Hudson Pacific Properties by 10.5% in the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 2,710 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Hudson Pacific Properties by 10.0% during the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 3,802 shares during the period. Finally, Everence Capital Management Inc. raised its stake in shares of Hudson Pacific Properties by 17.4% during the third quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 4,070 shares in the last quarter. Institutional investors and hedge funds 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.