The Manufacturers Life Insurance Company Raises Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

The Manufacturers Life Insurance Company grew its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 3.0% during the second quarter, HoldingsChannel reports. The fund owned 83,572 shares of the real estate investment trust’s stock after purchasing an additional 2,408 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hudson Pacific Properties were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC acquired a new stake in Hudson Pacific Properties during the 2nd quarter worth approximately $53,000. Chicago Partners Investment Group LLC acquired a new position in Hudson Pacific Properties in the fourth quarter valued at $125,000. NorthRock Partners LLC acquired a new position in shares of Hudson Pacific Properties during the first quarter worth about $104,000. Shell Asset Management Co. acquired a new position in shares of Hudson Pacific Properties during the first quarter worth about $107,000. Finally, GAMMA Investing LLC lifted its stake in shares of Hudson Pacific Properties by 62.4% in the first 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 in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Trading Up 1.7 %

Hudson Pacific Properties stock opened at $4.67 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market capitalization of $659.15 million, a price-to-earnings ratio of -2.92 and a beta of 1.31. Hudson Pacific Properties, Inc. has a one year low of $4.26 and a one year high of $9.85. The company’s fifty day moving average price is $4.87 and its two-hundred day moving average price is $5.19.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results 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 net margin of 25.42% and a negative return on equity of 7.41%. The firm had revenue of $218.00 million for the quarter, compared to the consensus estimate of $216.08 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue was down 11.1% on a year-over-year basis. On average, analysts forecast that Hudson Pacific Properties, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the transaction, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares of the company’s stock, valued at $19,307.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $6.00 in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $6.00 to $4.25 in a research report on Wednesday, July 10th. Scotiabank cut their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Finally, Bank of America cut their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and a consensus price target of $6.95.

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.