Hudson Pacific Properties (NYSE:HPP) Reaches New 52-Week Low – Time to Sell?

Hudson Pacific Properties, Inc. (NYSE:HPP)’s share price hit a new 52-week low on Tuesday . The company traded as low as $4.09 and last traded at $4.14, with a volume of 1838464 shares trading hands. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Scotiabank cut 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 note on Monday, August 26th. The Goldman Sachs Group cut 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, Bank of America decreased their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.30.

Hudson Pacific Properties Stock Performance

The business’s 50-day moving average price is $4.62 and its 200-day moving average price is $4.96. The stock has a market cap of $560.68 million, a P/E ratio of -1.90 and a beta of 1.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the transaction, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after acquiring an additional 630,932 shares during the period. Millennium Management LLC increased its stake in shares of 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 valued at $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. B&I Capital AG increased its position in shares of Hudson Pacific Properties by 23.4% in the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock valued at $8,174,000 after buying an additional 322,033 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hudson Pacific Properties by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock valued at $6,209,000 after buying an additional 43,728 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its position in shares of Hudson Pacific Properties by 50.6% during the 1st quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock worth $8,000,000 after purchasing an additional 416,591 shares during the last quarter. 97.58% of the stock is owned by hedge funds and other 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.