Hudson Pacific Properties Sees Unusually Large Options Volume (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) saw some unusual options trading on Wednesday. Traders acquired 10,565 put options on the company. This represents an increase of approximately 337% compared to the typical daily volume of 2,420 put options.

Analysts Set New Price Targets

HPP has been the topic of a number of recent research reports. Morgan Stanley reissued an “underweight” rating and issued a $1.75 target price on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. The Goldman Sachs Group cut their target price on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets decreased their target price on shares of Hudson Pacific Properties from $4.00 to $3.50 and set an “outperform” rating on the stock in a research note on Friday, June 13th. Odeon Capital Group initiated coverage on Hudson Pacific Properties in a research note on Monday, June 16th. They issued a “buy” rating and a $5.00 price target for the company. Finally, BTIG Research decreased their price target on shares of Hudson Pacific Properties from $8.00 to $4.75 and set a “buy” rating on the stock in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.22.

Insider Buying and Selling

In other Hudson Pacific Properties news, Director Jonathan M. Glaser purchased 448,430 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were bought at an average cost of $2.23 per share, for a total transaction of $999,998.90. Following the purchase, the director owned 668,699 shares of the company’s stock, valued at $1,491,198.77. This represents a 203.58% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Sholem purchased 224,215 shares of the stock in a transaction on Thursday, June 12th. The shares were purchased at an average price of $2.23 per share, for a total transaction of $499,999.45. Following the transaction, the director directly owned 400,743 shares of the company’s stock, valued at approximately $893,656.89. This represents a 127.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,139,007 shares of company stock valued at $2,539,986. 4.92% of the stock is currently owned by company insiders.

Institutional Trading of Hudson Pacific Properties

Several large investors have recently added to or reduced their stakes in HPP. GeoWealth Management LLC acquired a new position in shares of Hudson Pacific Properties during the fourth quarter worth about $27,000. US Bancorp DE boosted its stake in shares of Hudson Pacific Properties by 1,053.7% during the first quarter. US Bancorp DE now owns 9,772 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 8,925 shares during the period. Xponance Inc. purchased a new position in shares of Hudson Pacific Properties in the 4th quarter valued at approximately $30,000. Cibc World Markets Corp purchased a new position in Hudson Pacific Properties during the 4th quarter worth $39,000. Finally, Boothbay Fund Management LLC acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at about $40,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Pacific Properties Stock Performance

HPP opened at $2.74 on Thursday. The firm has a 50 day moving average of $2.43 and a two-hundred day moving average of $2.66. The firm has a market capitalization of $386.84 million, a PE ratio of -1.00 and a beta of 1.56. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.62. Hudson Pacific Properties has a 12-month low of $1.78 and a 12-month high of $6.29.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Hudson Pacific Properties had a negative net margin of 47.56% and a negative return on equity of 14.12%. The firm had revenue of $198.46 million during the quarter, compared to analysts’ expectations of $199.95 million. On average, analysts anticipate that Hudson Pacific Properties will post 0.45 EPS for the current year.

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.