NorthRock Partners LLC Boosts Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

NorthRock Partners LLC lifted its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 58.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,688 shares of the real estate investment trust’s stock after buying an additional 33,068 shares during the quarter. NorthRock Partners LLC owned about 0.06% of Hudson Pacific Properties worth $266,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HPP. Balyasny Asset Management L.P. grew its holdings in Hudson Pacific Properties by 265.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust’s stock valued at $30,464,000 after buying an additional 7,303,472 shares in the last quarter. Millennium Management LLC boosted its position in shares of Hudson Pacific Properties by 303.5% in the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock valued at $22,374,000 after acquiring an additional 5,554,444 shares during the period. Legal & General Group Plc grew its stake in Hudson Pacific Properties by 0.5% during the fourth quarter. Legal & General Group Plc now owns 4,008,936 shares of the real estate investment trust’s stock valued at $12,147,000 after acquiring an additional 21,320 shares in the last quarter. Geode Capital Management LLC grew its stake in Hudson Pacific Properties by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,488,285 shares of the real estate investment trust’s stock valued at $10,572,000 after acquiring an additional 61,868 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Hudson Pacific Properties by 95.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust’s stock worth $7,895,000 after acquiring an additional 1,275,236 shares during the period. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Pacific Properties Trading Down 1.6%

Shares of HPP opened at $2.41 on Friday. Hudson Pacific Properties, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $5.69. The firm has a market cap of $913.75 million, a price-to-earnings ratio of -0.88 and a beta of 1.59. The firm has a 50 day moving average price of $2.52 and a 200-day moving average price of $2.63. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.79 and a current ratio of 1.79.

Hudson Pacific Properties (NYSE:HPP) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $198.46 million for the quarter, compared to analysts’ expectations of $199.95 million. Hudson Pacific Properties had a negative net margin of 47.56% and a negative return on equity of 14.12%. As a group, equities research analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

Insider Transactions at Hudson Pacific Properties

In related news, Director Barry A. Sholem acquired 224,215 shares of the stock in a transaction on Thursday, June 12th. The stock was purchased at an average price of $2.23 per share, for a total transaction of $499,999.45. Following the completion of the transaction, the director owned 400,743 shares of the company’s stock, valued at $893,656.89. This trade represents a 127.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Victor J. Coleman acquired 224,215 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were bought at an average cost of $2.23 per share, with a total value of $499,999.45. Following the purchase, the chief executive officer owned 711,666 shares of the company’s stock, valued at approximately $1,587,015.18. This trade represents a 46.00% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,139,007 shares of company stock valued at $2,539,986. 4.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HPP shares. BTIG Research cut their price target on shares of Hudson Pacific Properties from $8.00 to $4.75 and set a “buy” rating for the company in a report on Wednesday, June 25th. Wedbush reaffirmed a “neutral” rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Odeon Capital Group began coverage on Hudson Pacific Properties in a report on Monday, June 16th. They set a “buy” rating and a $5.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of Hudson Pacific Properties from $4.00 to $3.40 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Finally, Piper Sandler set a $2.00 price target on shares of Hudson Pacific Properties and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.22.

Hudson Pacific Properties Profile

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.