Hudson Pacific Properties, Inc. (NYSE:HPP) Sees Significant Decline in Short Interest

Hudson Pacific Properties, Inc. (NYSE:HPP) was the recipient 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. Based on an average trading volume of 3,940,000 shares, the short-interest ratio is currently 5.4 days. Currently, 15.5% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Mizuho cut their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Piper Sandler cut their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Jefferies Financial Group decreased their price objective on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties has a consensus rating of “Hold” and an average target price of $5.08.

Insider Activity

In other Hudson Pacific Properties news, CEO Victor J. Coleman bought 50,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of $2.87 per share, with a total value of $143,500.00. Following the transaction, the chief executive officer now owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Institutional investors and hedge funds have recently modified their holdings of the company. Public Sector Pension Investment Board boosted its holdings in Hudson Pacific Properties by 7.0% in the second quarter. Public Sector Pension Investment Board now owns 281,680 shares of the real estate investment trust’s stock valued at $1,355,000 after purchasing an additional 18,459 shares during the last quarter. Marshall Wace LLP boosted its holdings in Hudson Pacific Properties by 1,132.6% during the second quarter. Marshall Wace LLP now owns 363,048 shares of the real estate investment trust’s stock worth $1,746,000 after buying an additional 333,594 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Hudson Pacific Properties by 168.5% in the second quarter. Squarepoint Ops LLC now owns 71,299 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 44,740 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Hudson Pacific Properties by 15.8% in the second quarter. AQR Capital Management LLC now owns 979,442 shares of the real estate investment trust’s stock worth $4,633,000 after acquiring an additional 133,629 shares during the period. Finally, Millennium Management LLC boosted its position in Hudson Pacific Properties by 282.7% during the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Performance

HPP stock traded up $0.22 during midday trading on Thursday, reaching $3.09. The stock had a trading volume of 258,501 shares, compared to its average volume of 2,802,309. The firm has a fifty day simple moving average of $3.14 and a two-hundred day simple moving average of $4.25. Hudson Pacific Properties has a 52-week low of $2.39 and a 52-week high of $8.71. 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 stock has a market cap of $435.98 million, a PE ratio of -1.48 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.