Hudson Pacific Properties Target of Unusually Large Options Trading (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) saw some unusual options trading on Friday. Investors purchased 2,404 call options on the stock. This is an increase of 50% compared to the average volume of 1,600 call options.

Analyst Upgrades and Downgrades

HPP has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company upgraded shares of Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price for the company in a research note on Monday, March 10th. The Goldman Sachs Group cut their price target on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Mizuho lowered their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group began coverage on shares of Hudson Pacific Properties in a report on Monday, March 17th. They set a “hold” rating and a $2.70 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Hudson Pacific Properties has an average rating of “Hold” and an average price target of $3.43.

Hudson Pacific Properties Stock Performance

NYSE HPP traded up $0.05 on Friday, reaching $3.06. 1,195,522 shares of the company’s stock traded hands, compared to its average volume of 2,774,942. Hudson Pacific Properties has a fifty-two week low of $2.39 and a fifty-two week high of $6.69. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $431.83 million, a price-to-earnings ratio of -1.19 and a beta of 1.31. The stock has a 50 day moving average price of $3.03 and a 200-day moving average price of $3.61.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $209.67 million during the quarter, compared to analysts’ expectations of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. Equities research analysts predict that Hudson Pacific Properties will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Hudson Pacific Properties

Several hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. lifted its stake in shares of Hudson Pacific Properties by 265.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after purchasing an additional 7,303,472 shares during the period. Millennium Management LLC increased its holdings in Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after buying an additional 5,554,444 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Hudson Pacific Properties by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after acquiring an additional 458,783 shares during the period. Legal & General Group Plc raised its position in shares of Hudson Pacific Properties by 0.5% in the fourth quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock worth $12,147,000 after acquiring an additional 21,320 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Hudson Pacific Properties by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock worth $10,572,000 after acquiring an additional 61,868 shares in the last quarter. Hedge funds and other institutional investors 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.