GAMMA Investing LLC Cuts Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

GAMMA Investing LLC lowered its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 26.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,303 shares of the real estate investment trust’s stock after selling 2,259 shares during the period. GAMMA Investing LLC’s holdings in Hudson Pacific Properties were worth $30,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Hudson Pacific Properties by 21.3% during the first quarter. Principal Financial Group Inc. now owns 803,693 shares of the real estate investment trust’s stock valued at $5,184,000 after purchasing an additional 141,045 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Hudson Pacific Properties by 95.7% during the 1st quarter. BNP Paribas Financial Markets now owns 158,549 shares of the real estate investment trust’s stock valued at $1,023,000 after buying an additional 77,553 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Hudson Pacific Properties in the 1st quarter worth approximately $510,000. Daiwa Securities Group Inc. lifted its position in Hudson Pacific Properties by 8.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 41,396 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 3,081 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Hudson Pacific Properties by 17.0% in the first quarter. Jennison Associates LLC now owns 141,425 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 20,589 shares in the last quarter. 97.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Hudson Pacific Properties 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 transaction 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the transaction, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HPP. Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. Scotiabank lowered their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Wells Fargo & Company reduced 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 note on Wednesday, September 11th. Bank of America lowered their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Finally, BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and an average target price of $6.94.

Hudson Pacific Properties Trading Up 7.6 %

HPP opened at $4.98 on Friday. Hudson Pacific Properties, Inc. has a one year low of $4.26 and a one year high of $9.85. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.47 and a quick ratio of 1.47. The business has a 50 day simple moving average of $4.87 and a two-hundred day simple moving average of $5.19. The firm has a market capitalization of $702.90 million, a price-to-earnings ratio of -3.11 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The business had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $216.08 million. During the same period last year, the firm posted $0.24 earnings per share. Hudson Pacific Properties’s quarterly revenue was down 11.1% on a year-over-year basis. Analysts predict that Hudson Pacific Properties, Inc. will post 0.57 EPS for the current year.

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.