Hudson Pacific Properties, Inc. (HPP) Director Sells $40,807,270.00 in Stock

Hudson Pacific Properties, Inc. (NYSE:HPP) Director Richard B. Fried sold 1,165,922 shares of the business’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $35.00, for a total transaction of $40,807,270.00. Following the sale, the director now owns 20,559 shares of the company’s stock, valued at approximately $719,565. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) traded down 0.28% during trading on Wednesday, hitting $35.07. 2,604,318 shares of the company were exchanged. The company has a 50 day moving average of $34.40 and a 200-day moving average of $32.95. Hudson Pacific Properties, Inc. has a 1-year low of $22.77 and a 1-year high of $35.89. The stock’s market capitalization is $4.04 billion.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, November 3rd. The real estate investment trust reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business earned $164.60 million during the quarter, compared to analyst estimates of $17.50 million. Hudson Pacific Properties had a return on equity of 0.25% and a net margin of 1.51%. On average, analysts forecast that Hudson Pacific Properties, Inc. will post $0.04 earnings per share for the current year.

Insider Buying and Selling by Quarter for Hudson Pacific Properties (NYSE:HPP)

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Monday, December 19th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, December 15th. Hudson Pacific Properties’s dividend payout ratio is currently -7,992.01%.

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A number of institutional investors have recently made changes to their positions in HPP. Victory Capital Management Inc. purchased a new position in shares of Hudson Pacific Properties during the third quarter valued at approximately $116,000. BlackRock Japan Co. Ltd increased its position in shares of Hudson Pacific Properties by 14.3% in the second quarter. BlackRock Japan Co. Ltd now owns 4,444 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 557 shares during the last quarter. Bank of Montreal Can increased its position in shares of Hudson Pacific Properties by 0.8% in the third quarter. Bank of Montreal Can now owns 6,733 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 51 shares during the last quarter. Aperio Group LLC increased its position in shares of Hudson Pacific Properties by 2.0% in the third quarter. Aperio Group LLC now owns 7,993 shares of the real estate investment trust’s stock valued at $263,000 after buying an additional 154 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Hudson Pacific Properties during the third quarter valued at $266,000. 92.09% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on HPP. BTIG Research restated a “buy” rating and set a $40.00 price target (up previously from $39.00) on shares of Hudson Pacific Properties in a research note on Saturday. Mizuho upgraded shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating in a research note on Monday, November 7th. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, October 5th. Wells Fargo & Company reiterated a “hold” rating and issued a $34.50 target price on shares of Hudson Pacific Properties in a research note on Thursday, December 1st. Finally, DA Davidson set a $40.00 target price on shares of Hudson Pacific Properties and gave the stock a “buy” rating in a research note on Monday, October 10th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Hudson Pacific Properties presently has an average rating of “Buy” and a consensus target price of $36.25.

About Hudson Pacific Properties

Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.

5 Day Chart for NYSE:HPP

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