abrdn plc Boosts Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

abrdn plc raised its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 10.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,406 shares of the real estate investment trust’s stock after purchasing an additional 2,710 shares during the quarter. abrdn plc’s holdings in Hudson Pacific Properties were worth $136,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Hudson Pacific Properties by 549.1% in the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 5,013 shares during the period. Key Client Fiduciary Advisors LLC purchased a new stake in Hudson Pacific Properties during the second quarter worth about $53,000. NorthRock Partners LLC acquired a new stake in shares of Hudson Pacific Properties during the first quarter worth about $104,000. Shell Asset Management Co. purchased a new position in shares of Hudson Pacific Properties in the first quarter valued at approximately $107,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in shares of Hudson Pacific Properties in the third quarter valued at approximately $85,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Andy Wattula sold 9,356 shares of the 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 owns 61,068 shares in the company, valued at $322,439.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction 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 in the company, valued at approximately $19,307.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.92% of the company’s stock.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $4.41 on Wednesday. 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 52-week low of $4.11 and a 52-week high of $9.85. The stock has a 50 day moving average price of $4.75 and a 200 day moving average price of $5.03. The company has a market capitalization of $622.82 million, a price-to-earnings ratio of -2.64 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). The company had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $216.08 million. Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. Hudson Pacific Properties’s revenue was down 11.1% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. Research analysts predict that Hudson Pacific Properties, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HPP has been the topic of a number of research reports. Scotiabank reduced their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Wells Fargo & Company decreased their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Piper Sandler lowered Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $6.00 in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Hudson Pacific Properties presently has an average rating of “Hold” and a consensus price target of $6.94.

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.