Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Purchased by Algert Global LLC

Algert Global LLC lifted its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 0.7% in the second quarter, Holdings Channel reports. The firm owned 954,042 shares of the real estate investment trust’s stock after acquiring an additional 7,047 shares during the period. Algert Global LLC’s holdings in Hudson Pacific Properties were worth $4,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC acquired a new stake in shares of Hudson Pacific Properties in the 2nd quarter valued at about $53,000. Chicago Partners Investment Group LLC acquired a new stake in Hudson Pacific Properties during the 4th quarter worth approximately $125,000. NorthRock Partners LLC acquired a new stake in Hudson Pacific Properties during the 1st quarter worth approximately $104,000. Shell Asset Management Co. acquired a new stake in Hudson Pacific Properties during the 1st quarter worth approximately $107,000. Finally, GAMMA Investing LLC lifted its position in Hudson Pacific Properties by 62.4% during the 1st quarter. GAMMA Investing LLC now owns 17,864 shares of the real estate investment trust’s stock worth $115,000 after acquiring an additional 6,862 shares during the period. 97.58% of the stock is owned by institutional investors and hedge funds.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $4.69 on Monday. The company’s fifty day moving average is $5.14 and its two-hundred day moving average is $5.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties, Inc. has a 12-month low of $4.26 and a 12-month high of $9.85. The company has a market cap of $661.97 million, a P/E ratio of -2.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The business had revenue of $218.00 million during the quarter, compared to the consensus estimate of $216.08 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities analysts expect that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HPP. Wells Fargo & Company decreased their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Piper Sandler downgraded Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group cut their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.95.

Hudson Pacific Properties Company 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.