Fifth Third Bancorp Sells 1,723 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Fifth Third Bancorp trimmed its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 28.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,439 shares of the real estate investment trust’s stock after selling 1,723 shares during the quarter. Fifth Third Bancorp’s holdings in Hudson Pacific Properties were worth $41,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Hudson Pacific Properties by 0.6% in the second quarter. BlackRock Inc. now owns 24,343,532 shares of the real estate investment trust’s stock worth $102,730,000 after purchasing an additional 148,537 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Hudson Pacific Properties by 0.7% in the first quarter. Vanguard Group Inc. now owns 22,183,249 shares of the real estate investment trust’s stock valued at $615,584,000 after purchasing an additional 160,204 shares during the period. Norges Bank acquired a new position in shares of Hudson Pacific Properties in the fourth quarter valued at about $101,242,000. State Street Corp grew its stake in shares of Hudson Pacific Properties by 10.6% in the second quarter. State Street Corp now owns 9,164,405 shares of the real estate investment trust’s stock valued at $38,674,000 after acquiring an additional 875,483 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Hudson Pacific Properties by 6,191.3% in the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock valued at $35,869,000 after acquiring an additional 5,308,032 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Performance

NYSE HPP opened at $6.33 on Friday. The company has a fifty day simple moving average of $6.69 and a 200 day simple moving average of $6.89. Hudson Pacific Properties, Inc. has a 12-month low of $4.05 and a 12-month high of $9.85. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.31. The company has a market cap of $892.77 million, a P/E ratio of -4.62, a PEG ratio of 0.54 and a beta of 1.30.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The firm had revenue of $223.42 million for the quarter, compared to the consensus estimate of $223.93 million. Hudson Pacific Properties had a negative net margin of 19.20% and a negative return on equity of 5.74%. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. Sell-side analysts predict that Hudson Pacific Properties, Inc. will post 1.05 earnings per share for the current fiscal year.

Hudson Pacific Properties Dividend Announcement

The firm also recently announced a — dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, March 15th. Hudson Pacific Properties’s payout ratio is -14.60%.

Insider Transactions at Hudson Pacific Properties

In other news, Director Barry A. Sholem acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the purchase, the director now owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the sale, the executive now owns 116,694 shares of the company’s stock, valued at $829,694.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barry A. Sholem bought 40,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $6.69 per share, with a total value of $267,600.00. Following the purchase, the director now owns 70,176 shares of the company’s stock, valued at $469,477.44. The disclosure for this purchase can be found here. Company insiders own 3.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $7.50 in a research note on Tuesday, February 20th. Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price objective for the company in a report on Monday, March 18th. Piper Sandler dropped their price objective on shares of Hudson Pacific Properties from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Jefferies Financial Group upgraded shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $12.00 in a report on Tuesday, January 2nd. Finally, Morgan Stanley lowered their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.05.

Hudson Pacific Properties Company Profile

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.