BNP Paribas Financial Markets Cuts Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

BNP Paribas Financial Markets lowered its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 48.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,574 shares of the real estate investment trust’s stock after selling 17,760 shares during the quarter. BNP Paribas Financial Markets’ holdings in Hudson Pacific Properties were worth $56,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brown University acquired a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $1,832,000. Helix Partners Management LP acquired a new position in Hudson Pacific Properties during the fourth quarter worth $579,000. Sanctuary Advisors LLC acquired a new position in shares of Hudson Pacific Properties in the fourth quarter worth $45,000. Renaissance Technologies LLC raised its holdings in shares of Hudson Pacific Properties by 9.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,390,009 shares of the real estate investment trust’s stock worth $4,212,000 after acquiring an additional 117,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 acquiring an additional 458,783 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on HPP. Wells Fargo & Company dropped their target price on Hudson Pacific Properties from $4.00 to $3.40 and set an “overweight” rating for the company in a research note on Monday, May 19th. Morgan Stanley reaffirmed an “underweight” rating and issued a $1.75 target price on shares of Hudson Pacific Properties in a research report on Tuesday, April 15th. BTIG Research set a $8.00 price target on Hudson Pacific Properties and gave the company a “buy” rating in a report on Tuesday, May 6th. Wedbush restated a “neutral” rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Finally, Piper Sandler set a $2.00 price target on Hudson Pacific Properties and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.52.

Hudson Pacific Properties Stock Up 0.8%

HPP opened at $1.88 on Tuesday. The stock’s 50 day moving average price is $2.25 and its 200 day moving average price is $2.80. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $265.11 million, a P/E ratio of -0.73 and a beta of 1.48. Hudson Pacific Properties, Inc. has a 12 month low of $1.78 and a 12 month high of $6.29.

Hudson Pacific Properties (NYSE:HPP) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $198.46 million for the quarter, compared to analysts’ expectations of $199.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. As a group, research analysts predict 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.