Geode Capital Management LLC Purchases 154,101 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Geode Capital Management LLC raised its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,426,417 shares of the real estate investment trust’s stock after purchasing an additional 154,101 shares during the quarter. Geode Capital Management LLC’s holdings in Hudson Pacific Properties were worth $16,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake 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 worth $29,000 after purchasing an additional 5,013 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Hudson Pacific Properties during the 3rd quarter valued at about $44,000. Stifel Financial Corp bought a new position in shares of Hudson Pacific Properties during the 3rd quarter valued at approximately $48,000. MQS Management LLC purchased a new stake in Hudson Pacific Properties in the 3rd quarter worth approximately $58,000. Finally, Metis Global Partners LLC bought a new stake in Hudson Pacific Properties during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Wall Street Analysts Forecast Growth

HPP has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their target price for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 11th. Finally, Piper Sandler cut their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.49.

Insider Activity at Hudson Pacific Properties

In related news, CEO Victor J. Coleman bought 50,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the acquisition, the chief executive officer now owns 487,451 shares in the company, valued at $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.95% of the stock is owned by insiders.

Hudson Pacific Properties Stock Down 2.0 %

Shares of HPP opened at $2.97 on Monday. The business’s 50 day simple moving average is $3.73 and its 200-day simple moving average is $4.57. Hudson Pacific Properties, Inc. has a 1 year low of $2.39 and a 1 year high of $9.85. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $419.46 million, a price-to-earnings ratio of -1.42 and a beta of 1.27.

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.