Short Interest in Hudson Pacific Properties Inc (HPP) Expands By 101.0%
Hudson Pacific Properties Inc (NYSE:HPP) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,041,267 shares, a growth of 101.0% from the November 15th total of 1,015,500 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 1,345,889 shares, the short-interest ratio is currently 1.5 days.
Shares of Hudson Pacific Properties (NYSE:HPP) opened at $34.33 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $5,357.57, a PE ratio of 17.88, a PEG ratio of 2.89 and a beta of 0.78. Hudson Pacific Properties has a 1 year low of $31.52 and a 1 year high of $36.75.
Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $190.02 million for the quarter, compared to analysts’ expectations of $183.37 million. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS. sell-side analysts anticipate that Hudson Pacific Properties will post 1.96 earnings per share for the current fiscal year.
HPP has been the subject of several research reports. KeyCorp reissued a “buy” rating and set a $39.00 price objective on shares of Hudson Pacific Properties in a report on Friday, August 25th. Goldman Sachs Group started coverage on shares of Hudson Pacific Properties in a research report on Tuesday, September 19th. They set a “buy” rating and a $39.00 target price on the stock. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Morgan Stanley decreased their target price on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Hudson Pacific Properties presently has an average rating of “Hold” and a consensus price target of $38.33.
In other Hudson Pacific Properties news, insider Richard B. Fried sold 17,417 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $34.66, for a total transaction of $603,673.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sanford Dale Shimoda sold 2,800 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $35.68, for a total transaction of $99,904.00. Following the transaction, the executive vice president now directly owns 83,072 shares of the company’s stock, valued at approximately $2,964,008.96. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in Hudson Pacific Properties by 4.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 118,636 shares of the real estate investment trust’s stock worth $3,978,000 after purchasing an additional 4,740 shares during the period. Honeywell International Inc. raised its position in Hudson Pacific Properties by 27.8% in the 3rd quarter. Honeywell International Inc. now owns 64,220 shares of the real estate investment trust’s stock worth $2,153,000 after purchasing an additional 13,950 shares during the period. Schwab Charles Investment Management Inc. raised its position in Hudson Pacific Properties by 9.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,599,938 shares of the real estate investment trust’s stock worth $53,646,000 after purchasing an additional 133,990 shares during the period. State of Wisconsin Investment Board purchased a new stake in Hudson Pacific Properties in the 2nd quarter worth about $1,064,000. Finally, Commonwealth Bank of Australia raised its position in Hudson Pacific Properties by 3.1% in the 3rd quarter. Commonwealth Bank of Australia now owns 1,330,204 shares of the real estate investment trust’s stock worth $44,599,000 after purchasing an additional 40,288 shares during the period. 99.66% of the stock is currently owned by institutional investors.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.
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