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

Hudson Pacific Properties, Inc. (NYSE:HPP) was the target of unusually large options trading on Thursday. Stock traders bought 5,334 call options on the company. This represents an increase of 460% compared to the typical daily volume of 953 call options.

Insider Buying and Selling

In related news, CEO Victor J. Coleman bought 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $3.53 per share, with a total value of $176,500.00. Following the completion of the purchase, the chief executive officer now owns 437,451 shares in the company, valued at approximately $1,544,202.03. The trade was a 12.90 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Hudson Pacific Properties by 549.1% during the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 5,013 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Hudson Pacific Properties during the 3rd quarter valued at $44,000. Stifel Financial Corp acquired a new stake in Hudson Pacific Properties in the third quarter worth $48,000. MQS Management LLC bought a new position in shares of Hudson Pacific Properties during the 3rd quarter worth about $58,000. Finally, Metis Global Partners LLC acquired a new position in Hudson Pacific Properties during the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Trading Down 6.2 %

Shares of HPP stock traded down $0.16 on Thursday, hitting $2.44. The company had a trading volume of 1,243,314 shares, compared to its average volume of 2,569,826. The stock’s 50-day moving average is $4.00 and its two-hundred day moving average is $4.67. 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 $344.61 million, a P/E ratio of -1.17 and a beta of 1.27. Hudson Pacific Properties has a twelve month low of $2.44 and a twelve month high of $9.85.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HPP. Piper Sandler reduced 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 note on Friday, November 15th. 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. Bank of America cut 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. Wells Fargo & Company lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and cut their price objective for the company from $5.50 to $5.00 in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average 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.