Short Interest in Hudson Pacific Properties, Inc. (NYSE:HPP) Drops By 21.9%

Hudson Pacific Properties, Inc. (NYSE:HPP) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 21,200,000 shares, a decline of 21.9% from the December 31st total of 27,140,000 shares. Currently, 15.5% of the company’s shares are short sold. Based on an average daily trading volume, of 3,940,000 shares, the days-to-cover ratio is presently 5.4 days.

Insider Transactions at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman acquired 50,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $2.87 per share, with a total value of $143,500.00. Following the completion of the transaction, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Hudson Pacific Properties by 549.1% during the third 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. Opinicus Capital Inc. bought a new position in Hudson Pacific Properties during the 4th quarter valued at $32,000. Venturi Wealth Management LLC acquired a new position in Hudson Pacific Properties during the 3rd quarter worth $44,000. Mutual Advisors LLC bought a new stake in shares of Hudson Pacific Properties in the 4th quarter worth about $44,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Hudson Pacific Properties during the fourth quarter worth about $45,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPP has been the subject of several recent analyst reports. Mizuho lowered their price target on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Piper Sandler lowered their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Jefferies Financial Group decreased their price target on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and an average price target of $5.08.

Hudson Pacific Properties Stock Up 1.0 %

NYSE HPP traded up $0.03 on Friday, reaching $3.13. The company had a trading volume of 2,275,777 shares, compared to its average volume of 2,652,195. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. Hudson Pacific Properties has a 1 year low of $2.39 and a 1 year high of $8.71. The firm has a 50-day moving average of $3.14 and a 200-day moving average of $4.22. The firm has a market capitalization of $442.05 million, a PE ratio of -1.50 and a beta of 1.30.

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.