MetLife Investment Management LLC Reduces Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

MetLife Investment Management LLC trimmed its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,180 shares of the real estate investment trust’s stock after selling 17,791 shares during the quarter. MetLife Investment Management LLC’s holdings in Hudson Pacific Properties were worth $158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HPP. Green Alpha Advisors LLC increased its stake in Hudson Pacific Properties by 77.7% in the fourth quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock valued at $1,580,000 after purchasing an additional 228,079 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Hudson Pacific Properties in the 4th quarter valued at about $436,000. Brown University purchased a new stake in Hudson Pacific Properties during the 4th quarter valued at approximately $1,832,000. Helix Partners Management LP acquired a new stake in Hudson Pacific Properties during the 4th quarter worth approximately $579,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Hudson Pacific Properties in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Analysts Set New Price Targets

HPP has been the topic of several recent research reports. 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 research note on Friday, March 28th. The Goldman Sachs Group cut their price target on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Scotiabank lowered their price objective on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company raised Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 target price for the company in a research note on Monday, March 10th. Finally, Wedbush restated a “neutral” rating on shares of Hudson Pacific Properties in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Hudson Pacific Properties currently has an average rating of “Hold” and an average target price of $3.63.

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP opened at $2.27 on Friday. Hudson Pacific Properties, Inc. has a 52-week low of $1.88 and a 52-week high of $6.29. The stock has a market capitalization of $320.39 million, a P/E ratio of -0.88 and a beta of 1.48. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm’s 50-day moving average price is $2.56 and its two-hundred day moving average price is $3.09.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. 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 $198.46 million during the quarter, compared to the consensus estimate of $199.95 million. As a group, sell-side analysts forecast 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.