Amalgamated Bank Trims Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Amalgamated Bank reduced its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,936 shares of the real estate investment trust’s stock after selling 3,689 shares during the quarter. Amalgamated Bank’s holdings in Hudson Pacific Properties were worth $182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. B&I Capital AG lifted its position in shares of Hudson Pacific Properties by 23.4% in the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock valued at $8,174,000 after acquiring an additional 322,033 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Hudson Pacific Properties by 28.8% during the second quarter. Texas Permanent School Fund Corp now owns 142,802 shares of the real estate investment trust’s stock worth $687,000 after buying an additional 31,939 shares during the period. Davis Selected Advisers lifted its position in Hudson Pacific Properties by 78.0% during the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock worth $5,890,000 after buying an additional 536,540 shares during the period. Victory Capital Management Inc. lifted its position in Hudson Pacific Properties by 37.3% during the second quarter. Victory Capital Management Inc. now owns 110,566 shares of the real estate investment trust’s stock worth $532,000 after buying an additional 30,058 shares during the period. Finally, Wolverine Asset Management LLC lifted its position in Hudson Pacific Properties by 6.4% during the second quarter. Wolverine Asset Management LLC now owns 404,949 shares of the real estate investment trust’s stock worth $1,948,000 after buying an additional 24,235 shares during the period. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Pacific Properties Price Performance

HPP stock opened at $4.78 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. Hudson Pacific Properties, Inc. has a 1 year low of $4.26 and a 1 year high of $9.85. The firm has a market cap of $674.67 million, a P/E ratio of -2.99, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31. The stock has a 50-day simple moving average of $5.12 and a 200-day simple moving average of $5.34.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The company had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.08 million. During the same quarter last year, the business posted $0.24 EPS. Hudson Pacific Properties’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities analysts predict that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now owns 3,713 shares in the company, valued at approximately $19,307.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now owns 3,713 shares in the company, valued at approximately $19,307.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on 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 owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HPP shares. Bank of America reduced their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $6.00 to $4.25 in a research report on Wednesday, July 10th. Piper Sandler downgraded Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $6.00 in a research report on Thursday, August 8th. BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. Finally, Scotiabank dropped their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.95.

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.