Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund lowered its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,999 shares of the real estate investment trust’s stock after selling 6,528 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of Hudson Pacific Properties worth $837,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of Hudson Pacific Properties during the second quarter valued at approximately $33,000. Point72 Hong Kong Ltd acquired a new stake in shares of Hudson Pacific Properties in the second quarter valued at approximately $35,000. CWM LLC increased its holdings in shares of Hudson Pacific Properties by 196.8% in the third quarter. CWM LLC now owns 3,520 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 2,334 shares during the last quarter. Ellevest Inc. increased its holdings in shares of Hudson Pacific Properties by 269.6% in the fourth quarter. Ellevest Inc. now owns 3,955 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 2,885 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Hudson Pacific Properties by 68.4% in the fourth quarter. Parallel Advisors LLC now owns 4,742 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,926 shares during the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.

Insider Buying and Selling

In related news, CIO Drew Gordon bought 25,000 shares of the stock in a transaction that occurred on Monday, March 27th. The stock was purchased at an average cost of $5.96 per share, with a total value of $149,000.00. Following the purchase, the executive now directly owns 116,958 shares of the company’s stock, valued at approximately $697,069.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hudson Pacific Properties news, CIO Drew Gordon purchased 25,000 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was bought at an average cost of $5.96 per share, with a total value of $149,000.00. Following the acquisition, the executive now directly owns 116,958 shares of the company’s stock, valued at $697,069.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur X. Suazo purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, March 28th. The shares were acquired at an average cost of $5.86 per share, with a total value of $58,600.00. Following the completion of the acquisition, the executive vice president now directly owns 87,102 shares in the company, valued at $510,417.72. The disclosure for this purchase can be found here. Insiders purchased 38,975 shares of company stock valued at $232,523 in the last three months. 2.95% of the stock is owned by corporate insiders.

Hudson Pacific Properties Trading Down 0.9 %

HPP opened at $4.34 on Tuesday. Hudson Pacific Properties, Inc. has a 12 month low of $4.30 and a 12 month high of $21.08. The stock has a market capitalization of $611.50 million, a price-to-earnings ratio of -10.85 and a beta of 1.09. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.21 and a quick ratio of 2.21. The business has a fifty day moving average price of $6.08 and a 200 day moving average price of $8.87.

Hudson Pacific Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Monday, March 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 17th. This represents a $1.00 annualized dividend and a yield of 23.04%. Hudson Pacific Properties’s payout ratio is -250.00%.

Analyst Ratings Changes

Several equities research analysts recently commented on HPP shares. Piper Sandler cut their price target on Hudson Pacific Properties from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, March 21st. Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, March 16th. StockNews.com raised Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. The Goldman Sachs Group began coverage on Hudson Pacific Properties in a research note on Tuesday, March 21st. They set a “sell” rating and a $5.50 target price for the company. Finally, Morgan Stanley cut their target price on Hudson Pacific Properties from $10.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, March 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.63.

Hudson Pacific Properties Company Profile

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Hudson Pacific Properties, Inc is a real estate company, which acquires, repositions, develops, and operates sustainable office and state of-the-art studio properties in high-barrier-to-entry submarkets in California, the Pacific Northwest, Western Canada, and Greater London, United Kingdom. It operates through the Office Properties and Studio Properties segments.