Vanguard Group Inc. Sells 4,984,908 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Vanguard Group Inc. trimmed its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 23.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,537,002 shares of the real estate investment trust’s stock after selling 4,984,908 shares during the period. Vanguard Group Inc. owned 11.71% of Hudson Pacific Properties worth $50,107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HPP. Charles Schwab Investment Management Inc. increased its holdings in shares of Hudson Pacific Properties by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock worth $17,175,000 after purchasing an additional 458,783 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Hudson Pacific Properties by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock valued at $16,381,000 after acquiring an additional 154,101 shares during the period. Presima Securities ULC lifted its stake in Hudson Pacific Properties by 8.0% in the fourth quarter. Presima Securities ULC now owns 2,504,983 shares of the real estate investment trust’s stock worth $7,590,000 after purchasing an additional 185,699 shares during the last quarter. Davis Selected Advisers boosted its holdings in Hudson Pacific Properties by 88.0% during the 4th quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock valued at $6,911,000 after acquiring an additional 1,067,940 shares during the period. Finally, Brown University bought a new position in shares of Hudson Pacific Properties in the fourth quarter worth about $1,832,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Piper Sandler dropped their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Mizuho reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group decreased their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. BMO Capital Markets raised shares of Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $4.00 to $5.00 in a report on Friday, March 28th. Finally, Jefferies Financial Group initiated coverage on Hudson Pacific Properties in a research report on Monday, March 17th. They issued a “hold” rating and a $2.70 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.43.

Hudson Pacific Properties Stock Performance

HPP opened at $2.17 on Friday. The firm has a fifty day moving average price of $2.87 and a 200 day moving average price of $3.39. Hudson Pacific Properties, Inc. has a 1 year low of $2.00 and a 1 year high of $6.33. The stock has a market cap of $306.17 million, a P/E ratio of -0.84 and a beta of 1.30. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The business had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Equities research analysts anticipate that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

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.