Intech Investment Management LLC Boosts Stock Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Intech Investment Management LLC lifted its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 88.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,267 shares of the real estate investment trust’s stock after acquiring an additional 42,276 shares during the quarter. Intech Investment Management LLC’s holdings in Hudson Pacific Properties were worth $431,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp increased 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 valued at $123,000 after purchasing an additional 2,399 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Hudson Pacific Properties by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock worth $402,000 after purchasing an additional 2,408 shares during the last quarter. abrdn plc lifted its position in shares of 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 acquiring an additional 2,710 shares in the last quarter. Amalgamated Bank lifted its holdings in 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 in the last quarter. Finally, Everence Capital Management Inc. lifted its stake 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 buying an additional 4,070 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Insider Buying and Selling

In other Hudson Pacific Properties news, CEO Victor J. Coleman acquired 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $3.53 per share, with a total value of $176,500.00. Following the purchase, the chief executive officer now owns 437,451 shares in the company, valued at approximately $1,544,202.03. The trade was a 12.90 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andy Wattula sold 9,356 shares of the company’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 transaction, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. This represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HPP shares. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price target for the company from $5.50 to $5.00 in a research report on Tuesday, November 12th. Piper Sandler decreased their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company decreased their price target on shares of 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. Scotiabank lowered 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, Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and a consensus price target of $6.17.

Hudson Pacific Properties Price Performance

Shares of HPP opened at $3.79 on Tuesday. The firm has a market capitalization of $534.56 million, a price-to-earnings ratio of -1.81 and a beta of 1.31. The stock’s fifty day moving average is $4.28 and its 200-day moving average is $4.78. Hudson Pacific Properties, Inc. has a one year low of $3.01 and a one year high of $9.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26.

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.