Park Avenue Securities LLC boosted its position in Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) by 32.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,296 shares of the real estate investment trust’s stock after acquiring an additional 4,007 shares during the quarter. Park Avenue Securities LLC’s holdings in Hudson Pacific Properties were worth $452,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the company. Private Capital Group LLC boosted its position in Hudson Pacific Properties by 240.1% in the first quarter. Private Capital Group LLC now owns 942 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 665 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Hudson Pacific Properties by 779.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,019 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 7,107 shares in the last quarter. Schroder Investment Management Group boosted its position in Hudson Pacific Properties by 31.4% in the fourth quarter. Schroder Investment Management Group now owns 9,397 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 2,245 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $279,000. Finally, Van ECK Associates Corp boosted its position in Hudson Pacific Properties by 66.9% in the fourth quarter. Van ECK Associates Corp now owns 11,610 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 4,654 shares in the last quarter. 96.48% of the stock is owned by institutional investors.
Hudson Pacific Properties Price Performance
HPP stock opened at $14.58 on Tuesday. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -121.49, a PEG ratio of 2.60 and a beta of 0.99. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.18. Hudson Pacific Properties, Inc. has a 12-month low of $13.92 and a 12-month high of $28.66. The company’s fifty day simple moving average is $16.93 and its 200 day simple moving average is $22.26.
Hudson Pacific Properties (NYSE:HPP – Get Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.63). The firm had revenue of $244.51 million during the quarter, compared to analyst estimates of $241.98 million. Hudson Pacific Properties had a negative net margin of 1.08% and a negative return on equity of 0.27%. During the same quarter in the previous year, the firm earned $0.48 EPS. On average, analysts expect that Hudson Pacific Properties, Inc. will post 2.02 earnings per share for the current year.
Hudson Pacific Properties Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.86%. The ex-dividend date of this dividend was Thursday, June 16th. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently -833.26%.
Analysts Set New Price Targets
A number of analysts have weighed in on HPP shares. Bank of America lowered shares of Hudson Pacific Properties from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $20.00 in a research report on Wednesday, June 22nd. The Goldman Sachs Group cut their price target on shares of Hudson Pacific Properties from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Piper Sandler cut their price target on shares of Hudson Pacific Properties to $18.00 in a report on Monday, July 4th. Wells Fargo & Company cut their price target on shares of Hudson Pacific Properties from $30.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, July 1st. Finally, StockNews.com began coverage on shares of Hudson Pacific Properties in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.18.
Hudson Pacific Properties Company Profile
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Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.
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