Van ECK Associates Corp Purchases 2,399 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Van ECK Associates Corp lifted its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,718 shares of the real estate investment trust’s stock after purchasing an additional 2,399 shares during the quarter. Van ECK Associates Corp’s holdings in Hudson Pacific Properties were worth $123,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 5,013 shares during the period. Key Client Fiduciary Advisors LLC bought a new position in shares of Hudson Pacific Properties in the second quarter worth $53,000. Regent Peak Wealth Advisors LLC bought a new position in shares of Hudson Pacific Properties in the third quarter worth $85,000. Shell Asset Management Co. bought a new position in shares of Hudson Pacific Properties in the first quarter worth $107,000. Finally, Everence Capital Management Inc. increased its holdings in shares of Hudson Pacific Properties by 17.4% in the third quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 4,070 shares during the period. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Performance

NYSE HPP opened at $4.23 on Thursday. The company has a 50-day simple moving average of $4.64 and a two-hundred day simple moving average of $4.97. 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 $4.04 and a 12-month high of $9.85. The firm has a market cap of $596.70 million, a price-to-earnings ratio of -2.02 and a beta of 1.31.

Insider Buying and Selling at Hudson Pacific Properties

In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction dated 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 sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction dated 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 sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Analyst Ratings Changes

HPP has been the topic of a number of research analyst reports. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $8.00 to $6.00 in a research note on Thursday, August 8th. The Goldman Sachs Group reduced their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Piper Sandler cut Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $6.00 in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.30.

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.