Traders Purchase Large Volume of Put Options on Hudson Pacific Properties (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) saw some unusual options trading on Tuesday. Stock investors purchased 5,834 put options on the stock. This represents an increase of approximately 600% compared to the typical daily volume of 834 put options.

Insider Activity

In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. This represents a 71.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.28, for a total value 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. The trade was a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised 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 purchasing an additional 5,013 shares during the period. Venturi Wealth Management LLC acquired a new stake in Hudson Pacific Properties in the 3rd quarter valued at $44,000. Stifel Financial Corp bought a new stake in Hudson Pacific Properties during the 3rd quarter valued at $48,000. Key Client Fiduciary Advisors LLC acquired a new position in Hudson Pacific Properties during the second quarter worth $53,000. Finally, MQS Management LLC bought a new position in shares of Hudson Pacific Properties in the third quarter valued at $58,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HPP. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price target for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of 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. BMO Capital Markets cut shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Scotiabank dropped their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. Two investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.17.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $3.85 on Thursday. Hudson Pacific Properties has a one year low of $3.01 and a one year high of $9.85. The company has a market cap of $543.74 million, a PE ratio of -1.84 and a beta of 1.31. The stock has a 50-day moving average of $4.38 and a 200-day moving average of $4.84. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

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.