Jennison Associates LLC Buys 20,589 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Jennison Associates LLC raised its stake in Hudson Pacific Properties, Inc. (NYSE:HPPFree Report) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,425 shares of the real estate investment trust’s stock after acquiring an additional 20,589 shares during the quarter. Jennison Associates LLC owned approximately 0.10% of Hudson Pacific Properties worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Penserra Capital Management LLC grew its holdings in Hudson Pacific Properties by 14.4% during the 3rd quarter. Penserra Capital Management LLC now owns 100,822 shares of the real estate investment trust’s stock valued at $670,000 after buying an additional 12,720 shares in the last quarter. Deutsche Bank AG increased its holdings in Hudson Pacific Properties by 2,367.6% during the 3rd quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock worth $28,469,000 after acquiring an additional 4,107,498 shares during the period. American Century Companies Inc. purchased a new stake in Hudson Pacific Properties in the 3rd quarter worth approximately $9,313,000. Wellington Management Group LLP bought a new position in Hudson Pacific Properties in the 3rd quarter valued at $1,103,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of Hudson Pacific Properties by 7.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 190,070 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 13,097 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Trading Up 2.7 %

NYSE HPP opened at $5.16 on Wednesday. The firm has a market capitalization of $727.63 million, a PE ratio of -3.22, a P/E/G ratio of 0.64 and a beta of 1.32. The stock’s 50 day moving average is $5.02 and its 200 day moving average is $6.48. Hudson Pacific Properties, Inc. has a twelve month low of $4.26 and a twelve month high of $9.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38.

Hudson Pacific Properties (NYSE:HPPGet Free Report) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.53). The business had revenue of $214.02 million during the quarter, compared to analysts’ expectations of $220.61 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. Research analysts forecast that Hudson Pacific Properties, Inc. will post 0.86 earnings per share for the current fiscal year.

Hudson Pacific Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Monday, June 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.88%. The ex-dividend date was Monday, June 17th. Hudson Pacific Properties’s dividend payout ratio (DPR) is -12.50%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HPP. Piper Sandler reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Hudson Pacific Properties in a report on Thursday, June 27th. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $6.00 to $4.25 in a research report on Wednesday. Wolfe Research upgraded Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price for the company in a research report on Monday, March 18th. Finally, The Goldman Sachs Group reduced their target price on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.32.

View Our Latest Stock Analysis on HPP

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the transaction, the chief executive officer now directly owns 387,451 shares of the company’s stock, valued at $2,006,996.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders bought 13,420 shares of company stock worth $59,912. 3.92% of the stock is owned by corporate insiders.

About Hudson Pacific Properties

(Free Report)

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.

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Institutional Ownership by Quarter for Hudson Pacific Properties (NYSE:HPP)

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