Public Sector Pension Investment Board Buys 17,527 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Public Sector Pension Investment Board grew its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 6.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 299,207 shares of the real estate investment trust’s stock after buying an additional 17,527 shares during the period. Public Sector Pension Investment Board’s holdings in Hudson Pacific Properties were worth $1,430,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Anthracite Investment Company Inc. acquired a new stake in Hudson Pacific Properties during the 3rd quarter worth about $1,320,000. Wolverine Asset Management LLC grew its stake in Hudson Pacific Properties by 42.3% during the third quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock worth $2,755,000 after purchasing an additional 171,424 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Hudson Pacific Properties during the third quarter worth approximately $1,332,000. Millennium Management LLC increased its holdings in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. Finally, Scion Asset Management LLC bought a new position in shares of Hudson Pacific Properties during the 2nd quarter worth approximately $5,505,000. 97.58% of the stock is currently owned by institutional investors.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $3.56 on Friday. Hudson Pacific Properties, Inc. has a 1 year low of $3.01 and a 1 year high of $9.85. The company has a market capitalization of $502.79 million, a PE ratio of -1.70 and a beta of 1.27. The business has a fifty day moving average price of $4.19 and a two-hundred day moving average price of $4.75. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Analysts Set New Price Targets

A number of equities research analysts have commented on HPP shares. The Goldman Sachs Group reduced their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Piper Sandler cut their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report 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 note on Wednesday, September 11th. Finally, Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price objective for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.17.

Insider Buying and Selling

In related news, COO Andy Wattula sold 9,356 shares of the company’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 value of $49,399.68. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Victor J. Coleman bought 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 437,451 shares of the company’s stock, valued at approximately $1,544,202.03. The trade was a 12.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.95% of the stock is owned by insiders.

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.