Principal Financial Group Inc. Has $3.18 Million Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Principal Financial Group Inc. decreased its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 17.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 664,598 shares of the real estate investment trust’s stock after selling 137,685 shares during the period. Principal Financial Group Inc.’s holdings in Hudson Pacific Properties were worth $3,177,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NorthRock Partners LLC bought a new stake in Hudson Pacific Properties during the third quarter worth $259,000. Amalgamated Bank increased its stake in shares of Hudson Pacific Properties by 10.0% in the 3rd quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 3,802 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Hudson Pacific Properties by 9.9% during the 3rd quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 2,399 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Hudson Pacific Properties during the 3rd quarter worth $223,000. Finally, abrdn plc boosted its stake in Hudson Pacific Properties by 10.5% in the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 2,710 shares in the last quarter. 97.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on HPP shares. The Goldman Sachs Group lowered 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. Bank of America lowered their price objective on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Wolfe Research lowered shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and decreased their target price for the stock from $5.50 to $5.00 in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price target on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Stock Performance

Shares of Hudson Pacific Properties stock opened at $3.33 on Friday. The stock has a market cap of $470.30 million, a price-to-earnings ratio of -1.57 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties, Inc. has a twelve month low of $3.01 and a twelve month high of $9.85. The company’s fifty day moving average is $4.48 and its 200 day moving average is $4.88.

Insider Activity

In related news, 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 value of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares in the company, valued at $322,439.04. The trade was a 13.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the company’s 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 sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. This trade represents a 71.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

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.