Public Sector Pension Investment Board Boosts Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Public Sector Pension Investment Board increased its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,680 shares of the real estate investment trust’s stock after buying an additional 18,459 shares during the period. Public Sector Pension Investment Board owned about 0.20% of Hudson Pacific Properties worth $1,355,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC purchased a new position in shares of Hudson Pacific Properties in the 2nd quarter valued at about $53,000. Chicago Partners Investment Group LLC acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $125,000. NorthRock Partners LLC purchased a new position in Hudson Pacific Properties in the first quarter worth approximately $104,000. Shell Asset Management Co. acquired a new position in Hudson Pacific Properties during the 1st quarter worth approximately $107,000. Finally, GAMMA Investing LLC increased its position in shares of Hudson Pacific Properties by 62.4% in the 1st quarter. GAMMA Investing LLC now owns 17,864 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 6,862 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Performance

Shares of HPP stock opened at $4.68 on Wednesday. The stock’s 50-day moving average price is $5.12 and its 200 day moving average price is $5.34. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $660.56 million, a PE ratio of -2.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 52-week low of $4.26 and a 52-week high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last released 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 period in the previous year, the firm posted $0.24 EPS. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Hudson Pacific Properties, Inc. will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated 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 $322,439.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the sale, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on HPP shares. Wells Fargo & Company lowered their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $6.00 in a research report on Thursday, August 8th. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. BMO Capital Markets cut shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Finally, Morgan Stanley cut shares of Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $6.00 to $4.25 in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.